I see as of yesterday the USD gold price has climbed above its 200 day MA.
Edit: Silver as well.
Must be about time for the US monetary authorities to organize a slap down.

Naysayers and fans of fiat "money" parked on paper notwithstanding, now seems to be a fine time to buy the yellow metal, for those who fancy the stuff. There's no telling exactly what the US FED's rate hike will do, but the price of gold hasn't been this low since more than 5 years ago.

Gold Price

Raiffeisen

Gold has been an unfortunate speculative trade for 5 years, what makes you think it will do better over the next 5?

The Fed's hike will make the $ stronger, so all things being equal gold will become less attractive to speculators & the price will fall.

Inflation is not our of control, deflation seems more of a risk from where I am sitting, so little point in holding gold.

Gold may have a long term correlation however I think it's more a once a generation cycle , rather than short term due to speculators. The need to get bored after being wrong for 10/15/20/25 years so throw in the trowel.

Agreed. Just because gold is at a 5 year low, doesn't mean it will not reach a 10 year one as well. Hitting lows or highs are indicators of nothing.

Apparently, in the US the 'Big Banks' are net LONG for the first time in ages. This basically is bullish for gold.
It will be confirmed exactly how LONG they are when the next COT figures are published (which when updated are - by design - 3 days out-of-date). But still it's better than a kick in the goolies.

PS I think the next data release will be today.

So when did bank traders on overage beat the market? I think the young kids just thought it looked cheap as they probably never looked at a graph longer than 10 years

Broken record.

An economy based on nothing but ever-increasing debt won't last forever. They never do. History says so. Manipulations may kick the can further down the road, but delaying the final reckoning only increases the cost. When paper inevitably returns to the price of paper, tangible commodities will be very much in fashion (and demand). History says so. And even if it happens to tarry beyond our lifetimes, our progeny will eventually either suffer or benefit from what we've passed on to them in the form of wealth.

Agreed! But the "bank traders" are the The Specs not the 'big banks', ie the bullion banks. The bank traders are invariably on the losing side of the trade and right now are - subject to COT confirmation - net SHORT.
BTW it's not 'young kids' but so-called 'algos' that do most of these trades.

Correction: It's the Specs. that are most probably net short, not the commercials. Getting my terms mixed

Yes. Assuming there won't be discovered any of these commodities in vast amounts that will devalue them. And also, it's not true if you hold something long enough it's always better then what you can do with a profit now and reinvested into something else. Problem is, is greed. Which gets people to take un necessary risks and therefore holding can outweigh risk taking, but there is no guarantee what anything that can be held is eternally valuable.

The thing with gold is it does not grow, it's totally unproductive.
All the gold in the world is worth more than all the farm land in the US, over time that land is likely to produce more in cash than the land depreciates. If your looking for a long time hedge, that farm land is likely to do better over time than gold.
If your Looking to make money (texaner is not), I think the S&P 500 will out perform both farm land or gold over time.

Eternally, no. But humanly speaking in the long term, gold has an historically unbeatable record versus fiat "money".

Which has to do with (greedy) profits, not stores of wealth. Your greed agenda isn't an automatic license to condemn those of us simply interested in an historically reliable store of wealth. A store of wealth, by definition, doesn't have to "produce" in order to do its job, your arbitrary presumption/demand to the contrary notwithstanding.

Gold is an important asset for diversification. Ray Dalio, one of the most successful hedge fund manager of all times, holds gold.

how do you buy gold? Don't want to have gold bars and worry about securing them.

You have to pay to keep it in a bank vault & for insurance so it had a negative return. Good luck with that over 50 years.

Then (may I suggest) don't buy them! If you buy something of value, it's not at all unreasonable to expect that you — the buyer and new owner of the commodity — accept responsibility for its security. There's insurance coverage as well (of course, this being Switzerland).

Or you could do this...
Not only safe place for storing, but also functional...

I bought one of those Rondo safes http://www.rondo.ch/front_en/home and I defy anybody to break into my basement and rob my gold bars.

Glenn Beck told me...

A challenge! and the address of your basement is?

Don't ask.

Suffice to say, I got to wondering a year or so ago what happened to all the 105 pupils in my Sixth Grade class 60+ years ago. So I got their names (published in the local paper, now long defunct but still archived) and spent some hours on line.

16 are deceased. Some are doctors, lawyers, etc. One is the spouse of a Christian publisher who sold his company for hundreds of millions. One is a felon convicted of murder.

We have no secrets. Not anymore. http://www.nytimes.com/2012/06/17/te...marketing.html

La vie privée est foutue.

All a safe does is takes the robbers a few more hours. The safe at work has a 1,000,000 overnight rating, it weighs 1 ton. It could be opened in under 12 hours if someone really wanted to.