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Gold mining names show early strength, as gold futures gain nearly $40/oz. following weak jobs...

Gold mining names show early strength, as gold futures gain nearly $40/oz. following weak jobs data: ABX +4.8%, AUY +5%, IAG +6.2%, NEM +5.3%, GFI +3.4%, GOLD +5.1%. For today at least, gold resumes its safe-haven status: Comex gold +2.4% to $1601.90.
Comments (6)
  • Well ... it looks like markets are facing the stark reality that economic policies of overspending, excessive regulation, american immorality (attack on DOMA, genderside, etc.) and greed have finally come to roost. It is not GOD bless America we should be saying, but rather GOD save America.


    2Ch 7:14 NKJV - "if My people who are called by My name will humble themselves, and pray and seek My face, and turn from their wicked ways, then I will hear from heaven, and will forgive their sin and heal their land.
    1 Jun 2012, 10:19 AM Reply Like
  • Gold weakness was from India buying weakness. As stimulus starts across the world it should rise back up.
    1 Jun 2012, 10:20 AM Reply Like
  • Ah men! Do everything and anything you can to make God's will happen as written in the Bible. As a part time Bible reader, abbreviations are not helpful. Please do not use any abbreviations.
    It is extremely difficult for most of us to check what you state with abbreviations. You only diminish your Biblical knowledge spread by using abbreviations.
    1 Jun 2012, 10:35 AM Reply Like
  • TDWelander ....


    Thanks for the kind words ... I assume you are asking what is meant by CH and NKJV. CH is short for Chronicles and NKJV is short for New King James Version.
    1 Jun 2012, 03:26 PM Reply Like
  • Gold seems to be the only safe bet right now. Personally, I think the gold price will go up but not overly so. However, it certainly wont get worse in my opinion which unfortunately makes it a better play than the rest of the economy right now in the current economic climate
    1 Jun 2012, 01:17 PM Reply Like
  • With the coming U.S. Government sequestration of funds starting in January 2013 to the amount of around $1 trillion yearly, we will have deflation. The only question is how much. Which also means the price of gold will drop. Best case is the price of gold remains stable. Worst case is the price of gold drops 20% to 60% starting in January 2013 and the gold price drop and other commodity price drops last 6 to 18 months or more. So talking of price stability in gold or anything else is a fools errand. Or the likely gold price drop will have a highly unpredictable ripple effect throughout the entire world economy on commodities. Save yourself a headache, look at government policies and what markets are doing on a macro level. You will have an above average idea of what is coming.
    3 Jun 2012, 11:47 AM Reply Like
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