Gold Above 370.00 per Oz...Hits High of 373.90 [6 Year High]

Kitco ^ | 1/27/03 | mixed

[antaresequity]

Gold Cracks 370.00...equity futures off, Euro edging up in overnight trading...

SPOT MARKET IS OPEN closes in 10 hrs. 9 mins.
Jan 27, 2003 03:21 NY Time
Bid	372.10
Ask	372.60
Change	+4.40
	+1.20%
High	373.90
Low	368.80

6 Year High in Gold

[antaresequity]

Gold poised to test 400 now...could see a rapid move on short covering.

If you want off this ping list let me know

[College Repub]

Out of curiosity, what is the 6 year return of the DJIA/S&P and the 6 year return on gold. Avg annual please.

[dennisw]

OK. How many billions is the gold market worth and how much tangible gold is above ground? Can't be more than 200 billion. You tell me!

[dennisw]

I remember ~1983 with the Iran/Iraq war and gold topped out at ~$650.

[antaresequity]

With all due respects their is no corralation nor reason to compare them.

And if something is testing a six year high...then its six year return is Zero...

But you already knew that.

[College Repub]

I did. I was trying to make a point about which is a safer investment long term. I could have asked for 10 yr, 20yr, 30yr returns too.

[antaresequity]

Six year on the SP cash 9.57%, or a simple annualized return of 1.6%

[College Repub]

And the Dow? What about 10 yrs of dow/s&p/gold

[antaresequity]

6 Year return on Dow = 2.82%

[antaresequity]

This is going to be ugly today me thinks...

The SP futures are off 6.00 pts

The Dow futures are off 57

The Naz 100 futures are off 6.50

[Mike K]

There are other investments besides long term. Those who began their long term investing in March of 2000 will wait 20 years before breaking even. Just like those who bought gold att he top in '87.

Those who went long in bull markets (gold) and short in bear markets (Dow, Naz, Sox et al) are very nicely in the money during that intermediate term.

[imawit]

So you're up watching this too.

[College Repub]

Fair enough.

[antaresequity]

Yes...these are momentous times..I wouldn't miss this for the world

Watch the rates too...Ten year contract is on the move and points higher to around 119.00...now up '015 [March large] @ 114'235

Euro contracts up 27 pips [March mini]

[College Repub]

What about 10 yrs on dow/s&p/gold?

[antaresequity]

Those who went long in bull markets (gold) and short in bear markets (Dow, Naz, Sox et al) are very nicely in the money during that intermediate term.

Yep...buy and hold is losing strategy for todays investor. It always will be. Every single trade should have stop, or reversal...

[imawit]

Earlier, arete, Richard said all would be well again for a while after the state of the union.

I wrote him back and said there was no bandaid big enough.

What part of the country are you in ?

[Mike K]

The FTSE looks to have gapped down 3.5% this morning. Stay tuned for more fireworks in New York.

[SAJ]

Don't fall in love with US and TY, the bulk of this is safe-haven stuff. When we tee off against Dirtbag, long-term i-r mkts will have a **very** difficult time. Who wants 4.xx % for 10 years, except of course the Japs?