Seeking Alpha

Gold winning streak ends at 9

  • The 9-day run higher for gold (GLD -0.4%) is the longest since July 2011, and - while it might be attributed to a hawkish vibe from the FOMC - the metal was lower going into the minutes.
  • BTIG's Dan Greenhaus cautions against reading too much into "few" suggested rate hikes "relatively soon." A "few" may indeed want that given the move higher in equilibrium rates, says Greenhaus, but others on the FOMC argued (and won) that standard policy tools don't apply now. "Focusing on the former without the context of the latter makes for an incorrect analysis."
  • Gold -0.6% to $1,316 per ounce.
  • ETFs: GLD, IAU, PHYS, SGOL, UGL, DGP, GLL, DZZ, UGLD, DGL, DGZ, GLDI, AGOL, DGLD, TBAR, UBG, GLDE, GYEN, GEUR, GGBP
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Comments (10)
  • mstrong1
    , contributor
    Comments (83) | Send Message
     
    Did we stop printing money, borrowing from our great, great grandchildren, or destroying the dollar ? I no longer trade paper gold and have come to see physical as actual money. I was asked why I didn't sell my $1,200 physical for a profit at $1,300 ? I replied and put it into what ? Dollar denominated investments ?
    19 Feb 2014, 03:13 PM Reply Like
  • David at Imperial Beach
    , contributor
    Comments (4318) | Send Message
     
    No, we didn't stop doing any of that. But Congress did give the Treasury department permission to borrow without limit until March 16, 2015. Must be party time in WDC! Meanwhile Germany gets backhanded when they ask to even look at their gold on deposit in NYC. Central banks around the world are quietly buying up as much yellow metal as they can to use as ammunition in the upcoming currency war against the Fed, and have been since 2005. Better back the truck up to the loading dock. These prices won't last!
    19 Feb 2014, 04:56 PM Reply Like
  • evan.prospect
    , contributor
    Comments (695) | Send Message
     
    Has anyone seen gold bars or gold coins selling at or near spot prices in gold shops?
    19 Feb 2014, 06:26 PM Reply Like
  • Doug Eberhardt
    , contributor
    Comments (3174) | Send Message
     
    I'll sell you Kilo's at $5 over spot plus 1% commission. That's about as low as you're going to find. You won't find that at gold shops because of their overhead (more than likely anyway).

     

    As far as the 9 day streak coming to an end, along with what mstrong1 had to say above, how long is that National Debt streak?
    19 Feb 2014, 06:57 PM Reply Like
  • matthewismyname
    , contributor
    Comments (8) | Send Message
     
    If gold is so "undervalued" and there is a disparity between "paper gold" and physical gold...why not buy a gold futures and take physical delivery. ..then resell in the non paper market... oh that's because there is not a disparity as these efficient markets don't have arbitrage to that extent. I do agree gold is good to hedge against inflation and that is why central banks own it...but please stop saying that paper gold is not fairly valued in the market.
    23 Feb 2014, 08:58 AM Reply Like
  • nooseah
    , contributor
    Comments (506) | Send Message
     
    Oh no!! It's a bear market!!

     

    How long before the naysayers crawl out from under their stones to declare a $600 target, I wonder ....
    19 Feb 2014, 06:55 PM Reply Like
  • Budavar
    , contributor
    Comments (1387) | Send Message
     
    In my half a century investment experience I don't remember a 9 day streak =
    quite remarkable, don't you think?

     

    Nothing IMO goes up in an uninterrupted straight line.

     

    To borrow from a memorable ad line =
    It's good for us to take a silver and golden pause that refreshes.
    19 Feb 2014, 11:46 PM Reply Like
  • nooseah
    , contributor
    Comments (506) | Send Message
     
    Well said.
    20 Feb 2014, 08:23 AM Reply Like
  • nooseah
    , contributor
    Comments (506) | Send Message
     
    WTF. No naysayers or click-bait merchants on tonite? Who knew ..
    20 Feb 2014, 08:23 AM Reply Like
  • fred1724
    , contributor
    Comments (67) | Send Message
     
    Gold doesn't care about all the Fed's BS. It just sits there with real value.
    20 Feb 2014, 09:15 AM Reply Like
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