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Comex gold rose 2.2% to $1,772.10/oz. to finish near seven-month highs on the Fed's QE3...

Comex gold rose 2.2% to $1,772.10/oz. to finish near seven-month highs on the Fed's QE3 announcement, and gold miners (GDX +4.3%) are performing even better: NEM +5.4%, ABX +3.5%, GFI +3.8%, GG +4.9%, FCX +3.9%. Silver spiked even more, and silver miners (SIL +6.8%) are soaring too: SLW +5.1%, HL +5.3%, PAAS +4.8%, CDE +6.2%.
Comments (12)
  • AYMERICK
    , contributor
    Comments (77) | Send Message
     
    And why do you not speak about USLV. Just before Bernanky speach I bougth 3500 USLV and believe me I was Lucky!!!
    13 Sep 2012, 03:31 PM Reply Like
  • williampike02
    , contributor
    Comments (5) | Send Message
     
    you got lucky
    my brother told me there was a good chance bernanke wouldn't cut so I held my DLSV (opposite of USLV) and lost 12% or so. I slept right thru the whole thing (I was up all night) so I got killed, but I'll try to make it up with some cheap options on something out there. I'm waiting for a pullback on banking stock like BAC I like the technical breakout and very cheap calls. Well, we have a big interest in a gold mine in Nevada so the gap up in gold prices really helps in the long run.
    13 Sep 2012, 06:13 PM Reply Like
  • kickshark
    , contributor
    Comments (28) | Send Message
     
    Will Gold touch $2000 this time around???
    13 Sep 2012, 04:30 PM Reply Like
  • Whitehawk
    , contributor
    Comments (3129) | Send Message
     
    Probably. Long gold.
    13 Sep 2012, 05:25 PM Reply Like
  • Ray Lopez
    , contributor
    Comments (1508) | Send Message
     
    All that glitters...is gold! Cash will soon be trash once QExyz fails. And Helicopter Ben is on the warpath. He will prove his Keynesian theory--or bust. Keynesianism or bust is Ben's California 49'er motto: and you know how gold rushes end: badly. But the analogy is imperfect: today's 'gold rush' is the love of the paper dollar, not the real metal. Long Au.
    14 Sep 2012, 12:22 AM Reply Like
  • hornet20
    , contributor
    Comments (4) | Send Message
     
    Wishful thinking kickshark, Don't count on it. I'm long gold but I don't wish for things. I just sit back and observe.
    14 Sep 2012, 04:19 AM Reply Like
  • thepragmaticinvestor
    , contributor
    Comment (1) | Send Message
     
    Gold US$2100
    14 Sep 2012, 04:25 AM Reply Like
  • williampike02
    , contributor
    Comments (5) | Send Message
     
    the new addiction is zero % interest rates. I've never seen anything like it...leave it to Obama to bring in all the same idiots in 2008 that led to this mess. Printing money is like passing out fake money to Monopoly players, it lets them get more aggressive because who cares? This has to be the most aggressively stupid policy in history. Not since the Fed was created in 1912, interest rates have only been under 1% for a few months or so. This is truly amazing and unusual. I still can't believe it...I believe that unemployment is permanently high with outsourcing and an aging population getting unhealthier and younger kids becoming more detached with lack of education. So Bernanke will keep rates at zero and his foot on the gas until unemployment improves? That means forever to me...There will never be another housing boom like that again, because the shadow financial system/giveaway credit has been gutted. And you see, rising inflation gives everyone COLA increases, nobody ever talks about that - food stamps just climbed, SS checks will climb, everyone is smiling even though their purchasing power is lessened.
    14 Sep 2012, 12:34 PM Reply Like
  • addisonsm
    , contributor
    Comments (46) | Send Message
     
    An interesting but factually deficient rant. The inflationary policies began 12 years ago and were buttressed by a willing Congress. The Fed has done a good job IMO in propping up the economy that was decimated by two wars and an unsound fiscal policy. For my money I would prefer to hear from economists on the failure or success of the Fed, but if you choose to rant, please do so with facts rather than an opinion developed outside of the informed circle of knowledge. Want to get rid of debt? Hold Congress accountable for the budget that they develop, the tax laws that they pass, and the trade agreements that they approve. When the politics end, fiscal sanity can return.
    15 Sep 2012, 09:34 AM Reply Like
  • AYMERICK
    , contributor
    Comments (77) | Send Message
     
    Williampike,as a European I see that the world is in a big crises and not the USA, nor Europe or China is able to pull themselves out of this mess. It's always easy from behind your computer to critisize decisions takenYou seems not to know that Bernanke is not the only person who takes the decisions that were taken.He is the man who is explaining the decisions taken by a majority in the commission.What we see in Europe is that the Republicans in the American congress are playng a very, very, dirty role to block decisions your president is wanting to take.It's incredible in a democraty to see such an hostility between a president and it's opposition.
    15 Sep 2012, 08:30 AM Reply Like
  • addisonsm
    , contributor
    Comments (46) | Send Message
     
    America is a Republic, rather than a Democracy, and the attributes of a Republic are what makes America what it is. In the Republic, the individual's rights are protected from the majority by virtue of the Constitution which defines those rights that are to be protected and a mechanism for protecting them. The political infighting, about which I think most Americans would agree with you, is almost a direct result of a large number of Americans trying to impose their will on minority groups (not race, but other classifications) of Americans and the mechanisms that are used to protect them from the assault on their rights. The fight takes many forms, but in the final analysis, it is all about one group trying to usurp the rights of another group by imposing their will and beliefs on that group. The minority group's rights would certainly be trampled were America a Democracy. America has seen this self-serving behavior before, and it eventually goes away as the American public historically takes about seven years to wise up to what is going on. Patience is required to be an American with the knowledge that there will never be a unanimous decision in Congress on anything of substance. Even after the attack on Pearl Harbor in 1941, Congress could not bring itself to unanimously vote on a declaration of war against Japan. It is just the form of government we have lived under for a relatively short time (236 years), as forms of government go. We accept it, and all its problems, comfortably knowing that the problems will correct themselves eventually through a series of small changes or corrective actions rather than a single major overhaul.
    15 Sep 2012, 10:00 AM Reply Like
  • jbassbia
    , contributor
    Comments (365) | Send Message
     
    Gold heading back to $ 2000 but the miners are only now seeing real volume . I am happy to see Guyana Gold ( GUY) recover with the new CEO link http://bit.ly/MWC1hH The sector is due for a relief rally at least .
    15 Sep 2012, 12:30 PM Reply Like
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