|
Click here for
your Free Gold Futures/Options e Guide
5/15/08 Gold futures prices look as if they
have found a bottom for now. South Africa gold production is
down 10.1% in the first quarter of 2008 form a year ago. Gold
option premiums are high.
5/9/08 Gold futures prices rallied this week
based on resumed weakness in the US Dollar. The world's largest
gold mining company, Barrick Gold, expects to produce 7.8
million ounces this year and is profitable at $400 an ounce.
Gold option premiums are high.
5/1/08 Gold futures prices sold off again
this week to the $850 level based on the strength in the US
Dollar and the potential for a cessation of interest rate cuts
by the Fed. Gold option premiums are high.
4/25/08 Gold futures prices sold off again
this week to break the $900 mark based on the US Dollar rally
and lack of speculative buying. The US Dollar rally is hurting
all of the metals because of the direct inverse relationship
between futures prices and the movement of the US currency. Gold
option premiums are high.
4/18/08 Gold futures prices are still
trading sideways in a $50 range. A few bad US reports helped
push the metal higher but the US Dollar began to rally killing
the increase in gold futures prices as it did. Gold option
premiums are high.
4/11/08 Gold futures prices are still
languishing around $930 after bouncing some after the weak US
employment figures and Barrick gold (the world's largest
producer) estimated that its gold production will fall by
250,000 ounces in 2008. Gold option premiums are high.
4/4/08 Gold futures prices are holding near
the $900 level after selling off over $100 an ounce over the
last couple of weeks. The rally in the US Dollar and the flight
to cash by many investors helped pull gold futures prices down.
Also helping the decline is end of quarter liquidation by large
commodity and hedge funds. Gold option premiums are high.
3/28/08 Gold futures prices kept within a
roughly $50 range this week. There is still uncertainty in the
markets and the US Dollar bounced a bit. Gold option premiums
are high.
3/21/08 Gold futures prices kept falling
this week as Wall Street hedge funds and commodity funds
liquidated futures positions to cover margin calls in stocks and
to pay back borrowed money. The Bear Stearns issue took the
confidence from investors. The Fed's 75 basis point cut
surprised investors because a full 100 basis point cut was
expected. Gold option premiums are very high.
3/14/08 Gold futures prices hit an new all
time high this week and seem to be comfortable above $1,000 an
ounce. The main driver in gold futures prices seems to be the
weakening US Dollar and investors' perception that gold is a
good inflationary hedge. Famed commodity guru Jim Rogers is
predicting $3,500 an ounce gold before this commodity bull
market is done. Gold option premiums are very high.
3/7/08 Gold futures prices broke $1,000/oz.
this week only to sell off $30 a contract. Gold futures prices
had been held up by lack of electricity in many South African
mines and the falling dollar. The inflation adjusted 1980 high
would be around $2,239/oz. Gold option premiums are very high.
2/29/08 Gold futures prices hit another
record high this week based on record oil prices and more
potential rate cuts by the Fed. The US Dollar plummeted this
week based on poor economic reports and a probable interest rate
cut of 50 basis points at the next FOMC meeting. The IMF
reported that they would allow gold sales by certain countries
to pay debt. Gold option premiums are very high.
2/22/08 Gold futures prices hit a record
high this week because of record crude oil prices and a broad
based commodity rally. It was the largest weekly advance in gold
futures prices in 18
months. The weak dollar, stronger than expected CPI and more
problems in South African mines also buoyed gold prices. Gold
option premiums are very high.
2/15/08 Gold futures prices have been
volatile again this week. Talk on Wall Street that there may be
no recession or at worst a mild one has taken money away from
the perceived safety of gold back into the stock markets. In
2007 global demand for gold hit an all time high of $79.2
billion dollars. Allowing Chinese citizens to own gold was
probably a decent portion of this number. Gold futures prices
are around $917 an ounce. Gold option premiums are very high.
2/8/08 Gold futures prices have been
extremely volatile this week. Gold futures prices sold off below
$900 and rallied the very next day and are currently near $920
basis June. Barrick Gold Corp. (the world's largest producer of
gold) sees gold spot prices at $1000 an ounce this year because
of lower global spending by mining companies, slow mine
permitting procedures, longer production times, a lack of
skilled workers and higher capital costs. Gold option premiums
are very high.
2/1/08 Gold futures prices rallied through
the $940 level this week. The rally occurred because of the continued rate cuts, the weakening
dollar combined with European Central Banks agreeing to
limit
gold sales to 500 tons per year until September 2008 and the South Africa Chamber of Mines
said that the nation's gold production was down by 7.6% in the
first quarter from a year ago. Gold option premiums are very
high.
-T & K Futures and Options Inc. |
