iShares COMEX Gold Trust (IAU)

All Comments on IAU

  • commenter
    Smarty_Pants
    Oct 06 10:33 AM
    My Website
    Long Gold and Silver: A Lifeline for Struggling Hedge Funds? [view article]
    Recent FED bailout amounts:

    Temporary Bank Swaps: $620 Billion
    Term Auction Facility: $450 Billion
    Wachovia Sale: $270 Billion
    Discount Window: $262 Billion
    Fannie/Freddie: $200 Billion
    FED Balance Sheet Fix: $100 Billion
    AIG Loan: $85 Billion
    Money Market Guarantee: $50 Billion
    Bear Stearns Guarantee: $29 Billion
    Ford/GM Loans: $25 Billion
    -----------------
    Total: $2.091 Trillion

    Hey, what's another $2+ Trillion when you're already $10 Trillion in debt? I'm sure it won't be inflationary in the least. The dollar will certainly hold its value and foreigners won't EVER begin to rethink their use of the dollar as the bulk of their reserves.     Reply
  • commenter
    GMiki
    Oct 06 10:13 AM
    Long Gold and Silver: A Lifeline for Struggling Hedge Funds? [view article]
    The dollar play isn't a flight to safety. Institutions have to pay off debts and such in dollars and are selling euros and buying dollars to do so. After this temporary period, the dollar will resume its fall. I have to admit I'm astonished at how far the dollar has risen. But today it has fallen drastically against the yen, and gold and silver have risen significantly as well (despite oil's fall). Everything is volatile in this market. One ought to avert his/her eyes and do nothing. Reply
  • commenter
    philmore
    pinocha
    Oct 06 09:51 AM
    Investment Ideas For Hard Times To Come [view article]
    Thomas Smicklas for president! Reply
  • commenter
    recentgldfan
    Oct 05 03:24 PM
    Gold Bulls: Beware [view article]
    Hello Mark, Thanks for your quick response.
    I think the 'decoupling' of Gold from Dollar should be a process affecting gold here. Looks good to buy now yes, but still depends on the $. Would have loved to see Gold rallying after the bailout was approved. Lets see this week.     Reply
  • commenter
    Managing
    Editor
    Oct 05 02:39 PM
    My Website
    Gold (and Gartman) Haunting Some Investors [view article]
    An at-the-money option would have a delta around .50 unless you're on the eve of expiration (when delta would be zero). Delta DOES matter. Greeks DON'T disappear at expiration. An in-the-money option at expiration would have, for example, a delta of 1.

    Time premium is predicated upon volatility assumptions. All of the other inputs in an option price model could be similarly perceived by all market participants; the one variable that's unique to each trader is the forecast for the asset's volatility over the option's life.

    There were no other time frames to consider for DZZ's performance when the hedge presentation was made. What you saw in the example was performance from inception. An update on DZZ's post-conference performance can be found on the Hard Assets Investors site at "Did You Hedge Your Gold Stocks? (www.hardassetsinvestor...) .

    The purpose of a hedge is just that ... to hedge against an unacceptable risk. If one didn't anticipate rough sailing ahead, or if one wasn't facing some other circumstance that precluded sale of an asset, one would remain unhedged. But there are times when assets must be held in tempestuous markets . An investor, for example, who's already taken a full complement of short term losses for the year might want to hold gold mining shares until they qualify for long-term capital gain/loss treatment.

    There's no presumption in the presentation that alpha is positive. Excess returns can be, and as we've seen often, ARE negative. In this case, a negative alpha would be symptomatic of management's failure to beat the performance of the gold market. Beta's a matter of perspective. There are, in fact, TWO betas associated with gold mining stocks: equity risk, which can be hedged with a stock index product AND gold risk, which is addressed by DZZ. There's still plenty of beta in Hecla even after hedging with DZZ.

    As for taking a "married" position (gold mining issues plus DZZ) at the outset, that's purely an alpha play. You'd be treating the mining issue as you would ANY equity issue. If you were looking for gold performance, buying gold itself would be more efficient.     Reply
  • commenter
    silver-bulle
    t
    Oct 04 10:17 AM
    Gold Bulls: Beware [view article]
    If you were China or Saudi Arabia, you would think seriously about divesting from the US dollar. Oil is increasing traded outside the US, and new cars are at an increase in China while declining in America.

    Divesting has already begun in these countries. I wouldn't bet against a tsunami of dollars coming into our economy.

    Dollar cost average into Gold, no one knows the bottom, but the top looks a lot more attractive. The PPT is loosing its power, and the real market will prevail.     Reply
  • commenter
    maclean.anna
    Oct 03 02:34 PM
    Gold Bulls: Beware [view article]
    Bearfund- you're absolutely right- I've been trying to get some and it's just not there.
    But considering the huge sell off of commodities yesterday, have people started hedging their gold with anything?
    Read an interesting article which explains why it's absolutely necessary.
    www.greenfaucet.com/co...
    Good luck. And make sure you hedge!     Reply
  • commenter
    Shiv
    Oct 03 12:02 PM
    My Website
    Gold Price and Gold Volatility [view article]
    Gosh Muzie, you really take things literally. I said I buy xyz. I did not say I do not sell them when the valuations are ripe. As of now, I have a healthy health care portfolio and have recently I have started accumalating positions in IT. I am also accumalating positions in materials though I expect further falls. I am keeping an eye on energy to start building positions and also on industrials. I think the investment case for gold is sound. It is just an area I do not invest in on principal. I also do not invest in booze and cigs, despite the yield and defensive characteristics because I smoke and drink and I see them both as bad habits. My last I will never invest in space is Energy MLP's. Not sure why I got onto a gold board. Reply
  • commenter
    short gold
    Oct 03 10:19 AM
    Gold Bulls: Beware [view article]
    gold - if you lived in the 1600's and had gold, you would be rich, since your living in the new mileniumim you own paper ETF (Eltronically Traded Fools Gold).....the only gold I want is a gold safe w/ a golden gun and golden bullets..... Reply
  • commenter
    bearfund
    Oct 03 01:11 AM
    Gold Bulls: Beware [view article]
    Good luck getting physical metal. You can probably get 400 oz bars on COMEX; anything smaller is either unavailable or priced at a ruinous premium to spot. Silver, same thing only moreso. Nothing other than 1000 oz bars is available at any price. Reply
  • commenter
    Cesato
    Oct 02 11:31 PM
    Gold Bulls: Beware [view article]
    Play paper Gold, even if you have to scalp for the next 3 months. As for the short term I 've been saying that shorting is the right bet for Gold. There hasn't been a better time me for bears and speculators than when everyone (read as, little money individual investors like us) is bullish to crush longs in the paper Gold business. If you own bullion overseas and are willing to keep it for 10 years without expecting any profit then stick to it otherwise play the market and the market play is shorting when all of us are bullish, have you read about Hedge Funds getting hit? Well they have good cash in the Gold market that they need to liquidate in order to raise cash!! Got it? There is no manipulation in the paper Gold market, it's all about hedging the USD and inflation expectacions plus a flurry of specualtive liquidity in the market (which is over). I wonder what the target was back in the 1980 when Gold reached USD 850. Was it USD 1.000? not sure but let the big money drive the limo and you just jump in when the ride slows down, don't be so bullish nor bearish that you loose perspective and don't get mad when it moves against your bet, just surf the wave the wave is going down now, but it will go 30 ft tall next year, so think about it! is it that confusing, just think about it! Reply
  • commenter
    EricH
    Oct 02 07:23 PM
    Gold Bulls: Beware [view article]
    Gentlemen, it just hit me like a ton of bricks... Yes, 100% there is gold price manipulation. The price will contiinue to be suppressed, and just before the fiat dollar finally collapses... Wallah, the gold price will be driven down to its lowest level yet (maybe around $500-600 per oz.), and just then, the US Government will declair it illegal to own gold (just like they did back in the 30's). After they take everyones gold, they'll re-price it between $5,000-$6,000 per oz... We've seen this sham before... Lube up and get ready, doensn't matter how much we try to prepare, we'll get screwed one way or the other. Remember this... Reply
  • commenter
    mlyn
    Oct 02 06:00 PM
    Gold Bulls: Beware [view article]
    Central Fund of Canada (CEF) is an investment holding company of both gold and silver. It has the metals in a vault. Look it up and the SA articles citing it. Reply
  • commenter
    sieraromero
    Oct 02 05:11 PM
    Gold Bulls: Beware [view article]
    Try to buy physical to hold silver. If you can get it, it is nowhere near the published listed spot price. Gold still seems available. Reply
  • commenter
    mark mchugh
    Oct 02 04:18 PM
    Gold Bulls: Beware [view article]
    recentgldfan,

    This article was actually written on Monday (and yes, I'm a little irritated that it took this long to publish). So, I'd have seemed smarter on Tuesday.

    The Ouija board tells me that $830 is a low-risk entry price right enow. I did not expect that target to be hit so quickly. So, I would expect an over-shoot to the downside, before the next advance.

    The Ouija board expects to see the low after the tenth of the month. So, I'd wait and see for now, which means no new money (not sell), unless, prices go below $775 (which I see as unlikely).

    The omen that I'm looking for is, what will appear to be, a convincing bounce in stocks. Hope this helps.
     Reply
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