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JP Morgan: Gold Could Now Face 'Unlimited' Demand Vincent Fernando, CFA May. 13, 2010, 6:42 AM JP Morgan's John Bridges believes the latest breakout for gold was a huge positive sign for the metal. Euro weakness fears, coupled with dollar weakness fears, could lead to an enormous amount of demand: JP Morgan: A German banker once told us that gold normally trades like a commodity. However, when investors lose confidence in currencies, because the pool of gold is so much smaller than the pool of currencies, demand for gold can effectively become unlimited. We believe the European version of “QE”...

Gold Investing: Protection Against Inflation By Bill Bonner 05/12/10 Paris, France – People don’t realize it, but these macro economic issues have real, personal consequences, said our French MoneyWeek editor. Simone calculated that keeping the debt under control, at 2009 levels, would cost the average Greek nearly $2,500 per year. That’s just the cost, per capita, of keeping up with the interest, while holding other expenses even with government revenues. Not many Greeks want to pay that amount. Not many will be able to. And more than a few will think they’re being treated like chumps. They’ll imagine that it’s...

Record-High Gold Prices Continue Alix Steel 05/12/10 - 04:18 PM EDT NEW YORK (TheStreet ) -- Gold prices Wednesday were hitting record highs as gold's appeal as a safe haven asset exploded. Next Step for Gold Prices Gold for June delivery was popping $19.70 to $1,240 an ounce at the Comex division of the New York Mercantile Exchange. The gold price today has traded as high as $1,249.20 and as low as $1,227.20. The U.S. dollar index was rising 0.44% to $84.84 while the euro reversed earlier gains and was falling 0.38% to $1.26 against the dollar. The spot gold...

Gold surged to a record high on Wednesday as investors piled in, seeking safety from turmoil in government bond markets and the risks of Greece's debt crisis spreading to other countries. Spot gold hit $1,243.55 an ounce, a gain of nearly 20 percent since early February. It was bid at $1,240.75 an ounce at 1006 GMT (6:04 a.m. EDT) from $1,232.05 late in New York on Tuesday. U.S. gold futures hit a record $1,244.80 an ounce. Investor buying this week was triggered by doubts that a $1 trillion rescue package to contain an escalating debt crisis in Europe would be...

Panic Buying Of Physical Gold In Europe Threatens Depletion Of Austrian Mint Submitted by Tyler Durden on 05/12/2010 09:07 -0500 When global governments refuse to act responsibly toward their currency, the people will create their own currency. Welcome gold. ( NAW ) 05/12 08:57AM AUSTRIAN MINT SAYS SOLD 243,500 OZ GOLD IN COINS AND BARS IN LAST 2 WEEKS, MORE THAN IN ENTIRE Q1 ( NAW ) 05/12 08:58AM AUSTRIAN MINT SAYS GOLD ORDERS COMING ENTIRELY FROM EUROPE IN LAST FEW WEEKS, SIGNS OF "PANIC BUYS"

As per Lt Col Ajay Jain of www.astromoneyguru.com, May 11, 2010 is represented by planet called Moon and year 2010 is represented by Jupiter. Combinations of Jupiter and Moon create “Gajkesari” yoga may bring cool opening but trend is positive in Indian stock market. Today Rahu is in Dhanu Rashi, Mars is in Karak, and Jupiter is in Meen Rashi. Today Jupiter and Saturn are at “Kendra” to each other. Rahu and Jupiter are at “Kendra”, Jupiter and Ketu also at Kendra to each other. Venus is in Varashab Rashi.... Today as per financial astrology gold may show weakness in...

Some of us like to gamble. Americans bet a hundred million dollars every day, and that's just at legal places like Las Vegas and Indian reservations. Much more is bet illegally. So authorities crack down. They raided a VFW branch that ran a poker game for charity. They ban lotteries, political futures markets and sports betting. They raid truck stops to confiscate video poker machines. Why? On my Fox Business News show tomorrow night, Chad Hills of Focus on the Family (www.focusonthefamily.com/) says: "These machines have been shown to be extremely addictive. That's a huge concern, primarily for kids, because...

After trading rather flatly Monday, the price of silver roared past $19 an ounce Tuesday morning charging through to a high of $19.42 an ounce later in the day. Silver hasn’t reached these heights since early December. The precious metals are riding a mixture of fear and hope over Europe’s ongoing debt saga and the prospective road to global economic recovery. Friday, silver posted a gain of 5.3 percent following gold up as fears in the euro zone overheated. Monday saw little movement as the metal gained about a dime to close at $18.55 an ounce in New York. Tuesday,...

Gold Just Went Nuts, Surging To A Record Above $1230 Joe Weisenthal May. 11, 2010, 3:22 PM Interesting developments in gold today. It's been higher all day, but really has gone nuts in the last hour.[snip]

Not only has the gold price sailed past the volatility of the last week in global financial markets, gold has positively benefited from the chaos and today put on $15 and at the time of writing is less than $10 short of its $1,226 an ounce all-time high reached last December. The question then is whether gold consolidates around the new $200 step-up at $1,200, when only recently passing the $1,000 goal-post was such a struggle and only achieved on the third heave, or heads much higher. Parabolic price rise? It maybe that this is the point at which gold...

Gold Is On Fire, As Market Sneers At Euro Bailout Joe Weisenthal May. 11, 2010, 8:14 AM Along with the overall market malaise, the other big warning sign right now is the gold surge. The metal is now nearly $1220/oz. As Stacy Herbert puts it: The gold vigilantes are in a shootout with the ECB and the Fed.

Federal agents have launched parallel criminal and civil probes of JPMorgan Chase and its trading activity in the precious metals market, The Post has learned. The probes are centering on whether or not JPMorgan, a top derivatives holder in precious metals, acted improperly to depress the price of silver, sources said. Read more: http://www.nypost.com/p/news/business/feds_probing_jpmorgan_trades_in_gZzMvWBqOJpB55M7Rh9vwM#ixzz0nTWmTvMl

Gold Shortage Rumors Abound By Addison Wiggin 05/06/10 Baltimore, Maryland – “When you hear of wars and rumors of wars, don’t be alarmed!” reads the Gospel according to Mark. “These things must happen, but they don’t mean that the end has come.” We seldom cite the Bible, but the passage came to mind this morning as we reflected on an e-mail chain among several of our business partners and acquaintances. Only instead of “wars,” the word that came to mind was “fraud.” Fraud and rumors of fraud abound in the gold market. “I’ve heard these rumors for a while,” says...

Investors Run to Gold and Silver ...World Economy Going Nowhere For Many Years Commodities / Gold and Silver 2010 May 06, 2010 - 06:41 AM By: Hubert Moolman The worst part of the world’s current financial crisis is still on its way. The enormous debt levels present in our financial system is central to this crisis. This huge debt levels could cause the world’s monetary system to collapse, starting with the weaker currencies and quickly making its way to the major ones. Day by day the premier signal (gold price) of this collapse is getting clearer and should encourage more...

gold up big, the contagion has lit the spark. Precious metals only safe port in the storm.

"-- The notional value of derivatives held by U.S. commercial banks increased $8.5 trillion in the fourth quarter, or 4.2 percent, to $212.8 trillion." "-- Derivative contracts remain concentrated in interest rate products, which comprise 84 percent of total derivative notional values. The notional value of credit derivative contracts, at $14 trillion, represents 7 percent of total notionals. Credit derivatives notional totals increased by 8 percent during the quarter." Imagine: an increase of $8.5 trillion in notional value of derivatives in just three months."

The collapse of the dollar to less than a 1,200th of an ounce of gold is emerging as one of the astonishing stories of our time. Yet even more astonishing is the lack of focus on that story by the intelligentsia in our press and politics. It is a silence on which these columns have remarked a number of times of late, including on March 14, 2008, right after the value of the greenback toppled below a thousandth of an ounce of gold. At the time we suggested that, once the Democrats had their nominee, it would be up to...

Amid all the turmoil with the decline in the value of the Euro, falling global stock markets, a temporarily strong US dollar, civil unrest in Greece, gold and silver prices have been extremely volatile. Just during COMEX hours today, the spot price of silver traded anywhere from $17.48 to $18.65, a 6.6% range. Gold moved around in a $20 range and closed within 1% of setting a new all-time high close! As dramatic as was today’s news coming out of the COMEX, the news from Europe is even more exciting. Worried Europeans are flocking to buy physical gold. Dealers across...

Silver rises on spill-over effect from gold's run; gold ETF breaks asset record Gold ended higher Friday, resuming its march upward as investors continued to be spooked by a potential European debt crisis, with silver riding on its coattails and vaulting more than 5%. Gold for June delivery, the most active contract, settled $13.10 higher, or 1.1%, at $1,210.40 an ounce, a five-month high for the metal and closing in on its Dec. 3 all-time settlement record of $1,217.40 an ounce. "The only place traders feel comfortable parking their money for the weekend is gold," said Adam Klopfenstein, a trader...

n Part I of this series, I introduced readers to the idea that the price of silver could soar to levels which would even surprise most silver-bulls. In Part II of this series, I pointed out that when our “paper inventories” of silver are exposed that this, alone, sets up the silver market for an enormous price-shock. In Part III of this series, I will discuss how silver has perhaps the most-bullish demand fundamentals of any commodity in history. As I stated at the beginning of this series, a “three-digit price” for silver is assured, while over the long term,...