Gold prices were driven to a record high Thursday as worries returned about sluggish economic growth. Gold for December delivery added $5.10 to settle at $1,273.80 an ounce, which was a record high. Earlier in the day, it traded as high as $1,279.50 an ounce. It was the second time this week gold has set a record high, and some analysts believe the price could top $1,300 an ounce.
Inside these posts: Gold
Visit our Filed page for categories. To browse by specific topic, see our Inside page. For a list of companies covered on this site, visit our Companies page.
Gold’s price could rise to new record in 2010
Gold could rally above $1,300 an ounce this year, setting successive all-time highs, as uncertainty about economic recovery and a sovereign debt crisis stoke investment interest, according to a closely watched industry report released Tuesday. Get the full story »
Commodities prices retreat on economic worries
Most commodities prices have closed lower as traders worry that global demand for raw materials will drop because of the slowing economy. Metals and energy prices are down while grains have closed mixed. Get the full story »
Northern Trust CIO: ‘We’re decidedly neutral’
Northern Trust Chief Investment Officer Bob Browne said in an interview with Steve Forbes that he’s still investing in high-yield bonds and anchoring investments with gold.
He said he’s surprised by people who have very strongly-held views about the direction of the market at this point in time. “We’re decisively neutral,” he said. “We think it can go either way and we’re placing a lot of value on liquidity and flexibility.”
Money man Grantham sees blue chips as gold standard
Jeremy Grantham, the renowned money manager who reluctantly bought gold while “officially scared” at the beginning of the financial crisis a couple of years ago, wants nothing to do with gold now.
Rather, Grantham says investors can be prepared to get through inflation or deflation with blue chip stocks. Grantham told professional investors gathered in Chicago for the CFA Institute’s annual seminar, that the market’s highest quality stocks are cheap now.
People worried about inflation, “are picking looney stuff like gold,” Grantham said. “It has no value and is totally speculative.”
Gold slips as stocks bounce
Gold erased early gains on Tuesday to tumble to a six-week low as selling precipitated by a sharp rebound in equities pushed the metal through key technical support levels near $1,200 an ounce. Get the full story »
July 2, 2010 at 11:06 a.m.
Comments Off
Filed under: Gold rises after weak U.S. payrolls data
Gold rose on Friday after data showed U.S. employment fell for the first time this year in June, with bargain hunting after the previous day’s price drop also helping lend support to the market. Get the full story »
Is gold likely to lose its luster?
If you are worried about a job, you want the reports about the economy to get better. If you want to make sure you don’t take a bath on the gold you just bought, you want the economic reports to make investors worry.
At least that’s the impression left by a recent report on gold by Barclays.
The firm’s commodities team concludes; “gold has benefited predominantly from safe-haven buying.” And with the firm’s economists retaining a positive view of the global economy for 2010 and 2011, “a less favorable environment for safe-haven assets could have investors turn lukewarm toward gold.”
Commodities see biggest monthly drop since 2008
Gold coins and bars at California Numismatic Investments in Inglewood, Calif. Gold rose about 3 percent on the month for its best showing since
February. (AP Photo/Nick Ut, file)
Reuters | Commodities in May had their steepest monthly decline in 18 months, with
a key sector index down more than 8 percent as the European crisis
roiled energy, metals and agricultural markets.
Crude oil fell 14 percent on the month, copper 7 percent and sugar 6
percent. Markets in May were focused on the euro zone debt crisis, which began with worries over Greece’s finances, and entered a new phase on
Friday with a credit ratings downgrade for Spain.
Gold rose about 3 percent on the month, for its best showing since
February. Risk-averse investors piled into the shiny metal, viewing it as a
safe haven during times of financial and political trouble.
