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Gold extends its now month-long rally, climbing 1.7% and pushing above $1,300/ounce for the...

Gold extends its now month-long rally, climbing 1.7% and pushing above $1,300/ounce for the first time since mid-June at $1,315. Gold's move has come alongside stocks and bonds (and silver) as the Fed has trotted out a series of officials to assure the taper is not a done deal and any real tightening remains years in the future. GLD +1.7%, SLV +2% premarket.
Comments (9)
  • Matthew Davis
    , contributor
    Comments (3828) | Send Message
     
    Not sure what is sustaining gold, the sky isn't falling and doesn't look like we will have a financial collapse like before.
    22 Jul 2013, 09:38 AM Reply Like
  • mickmars
    , contributor
    Comments (1323) | Send Message
     
    Buy low, sell high. Fundamentals don't matter on anything anymore. Gold got low.
    22 Jul 2013, 10:08 AM Reply Like
  • Jason Burack
    , contributor
    Comments (1730) | Send Message
     
    There is plenty of "pressure" under the surface and behind the scenes. EU, Japan, UK and China all have huge problems. US will add more debt and the market is only giving the US more rope (debt) to hang itself with over the long term. Also, a lot of the stuff behind the scenes are trade deals involving the G20 to negotiate an end to US Dollar hegemony as WRC, etc. WRC and Petro Dollar create huge artificial demand for US Dollars allowing US to inflate then export the inflation and spend the money stupidly.
    22 Jul 2013, 01:52 PM Reply Like
  • solarcircle
    , contributor
    Comments (292) | Send Message
     
    Are you fast asleep - world economies are screwed and their levels of debt which can never be paid are extraordinary. Money printing can never end without a collapse. I think the media and fed have a bridge they would like to sell you.
    22 Jul 2013, 04:04 PM Reply Like
  • BigSimes
    , contributor
    Comments (4) | Send Message
     
    Madav1138... It's not 'what is sustaining gold', but what kicked it's head under water in the first place?
    22 Jul 2013, 09:59 AM Reply Like
  • Matthew Davis
    , contributor
    Comments (3828) | Send Message
     
    It dropped because its a fear trade, there isn't any fear left. Therefore its still a sell until $900. Just my opinion.
    22 Jul 2013, 01:30 PM Reply Like
  • solarcircle
    , contributor
    Comments (292) | Send Message
     
    maadav, tell that to the Chinese
    22 Jul 2013, 04:06 PM Reply Like
  • Interesting Times
    , contributor
    Comments (10911) | Send Message
     
    No fear left ? Are you serious.

     

    I guess you watch MSNBC all day to get your financial info.. Go take a look at the real data and i think you will be shocked.

     

    Are the TBTF banks not net long or short on gold? They got the price down to cover their shorts and now went long...
    22 Jul 2013, 07:45 PM Reply Like
  • Matthew Davis
    , contributor
    Comments (3828) | Send Message
     
    Well I guess you must listen to Glen Beck all day long too then. I only watch MSNBC for a good laugh, but your emotional over reactions tell a lot of story.

     

    I sure hope the housing market hits a wall soon because I was planning on buying this year, but gold is a fear trade, and for the most part the fear is subsiding. EU did not fall apart, Japan while stagnant is still there, the US, is the strongest of all of them economically, so what are you afraid of? What points towards the next great depression that never happened?
    23 Jul 2013, 09:01 AM Reply Like
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