The Nasdaq has reached its highest point in eighteen months,since its loaded with technology shares ,it might be a good place look at shares for the future.
The gold price may be running out of steam,although there is still a small upward bias in the price.
The gold mines share prices have not picked up really since the start of this year and at best the ir prices are churning.
GOLD ETF's (EXCHANGE TRADED FUNDS) are holding up quite well .They were in part responsible for the price of gold taking off. Now there is worry that as it becomes obvious that the recession is behind us there will be a huge sell-off causing the GOLD PRICE TO TUMBLE.
South Africa - 1982 Krugerrand 1/10 Oz. Gold Coin
If you feel that you would like to hold something in gold,there are always coins that have an intrinsic value other than just being a metal hoarding exercise.Their specific history,condition and amount minted ,design also play a part.American Eagles Coins,South African Krugerrands Coins a re the best known and easiest to trade.
It seems as if Greece is not over its monetary problems yet,This is likely to keep supporting the GOLD price.The European Union also seems restless as the Greek situation is having a knock on effect.In America their government is at the moment seems able to manage their debt situation well, as the promise of things coming right is ,pushing the actual situation into the back ground so there is no likely hood of upward pressure on the yellow metal.Gold is like therefore to be range bound probably staying above $1080 per ounce for the month.Physical demand for the metal is picking up as well as various reserve banks through out the world replenish their stocks and ETF's are still in demand as nervous investors use gold as a backing currency.Industrial demand is also increasing.
The COPPER price has moved up over the last couple of months but seems now range bound.
Platinum prices are near their seventeen month highs.All the other PGM's that by the way ,are seperate metals but usually found in the same seam as Platinum prices are very high.
Now there seems to be talk of the market pulling back in America as it is believed it has overshot the conditions in the country.Every one from Motley Fool to CNN is trumpeting that there is going to be a massive pullback,almost willing it to happen.I am not certain what the motive is.Maybe just to sell their publications or genuine concern to tame the prices to make the recovery more sustainable over a longer period.I earnestly hope it is for the second reason that are suddenly taking such a negative veiw of things.This is not to say that things are alright on the ground ,by any means and yes there is likely to be a pullback soon,but i do not believe it will be massive!
They are mostly speaking about financial and commercial stocks.What will happen to resources is another subject entirely. Up to this point whenever their market has failed resource prices suddenly lurch upwards.Another point is that PLATINUM is nowhere near its highest high.About two years ago Platinum reached over $2200 per ounce in price.It is arounfd $1600 at the moment and recovering fast. PALLADIUM at one time in a spike reached over $1000 per ounce .It is now around $400 per ounce.
There is really a very small traded market for the PGM group metals and most of the major producers sell on contract.Some years ago Impala sold around 85% of their output on contract.I have no idea how much can be considered sold forward today as usually this is a well gaurded secret. It is difficult to find out who the buyers of the metals are as well as I think each group is afraid that another group might move in and try to steal their customers from under their noses.
