{"id":12,"date":"2008-01-21T16:52:29","date_gmt":"2008-01-21T21:52:29","guid":{"rendered":"http:\/\/www.howtoinvestingoldnow.com\/blog\/investing-in-gold\/gold-%e2%80%a6-the-market-never-sleeps-even-on-a-us-holiday-12\/"},"modified":"2020-01-19T15:19:51","modified_gmt":"2020-01-19T20:19:51","slug":"gold-the-market-never-sleeps-even-on-a-us-holiday","status":"publish","type":"post","link":"https:\/\/www.howtoinvestingoldnow.com\/blog\/12\/gold-the-market-never-sleeps-even-on-a-us-holiday\/","title":{"rendered":"Gold \u00e2\u20ac\u00a6 the market never sleeps … even on a U.S. holiday"},"content":{"rendered":"
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With the U.S. markets closed for the Martin Luther King Day holiday, this Monday stock markets around the world got the jitters after (perceived)? bad news on Friday and dropped their \u00e2\u20ac\u00a6 well, their prices.<\/p>\n

Everyone is unsure if the U.S. really is going to go into recession and just what that means for them.<\/p>\n

Unusually, this was not reflected in an equal and opposite move upwards in the price of gold.<\/p>\n

According to the Kitco live trading chart I mentioned a few posts back, the spot gold price ended the day in London at $866.00, having \u00e2\u20ac\u0153stood at $868.60\/869.80 (U.S.) per troy ounce by 11:56 (GMT), compared with $881.90\/882.60 in New York quoted late in New York on Friday\u00e2\u20ac\u009d, as Canada\u00e2\u20ac\u2122s \u00e2\u20ac\u0153Globe and Mail\u00e2\u20ac\u009d points out.<\/p>\n

In this regard, the \u00e2\u20ac\u0153Globe and Mail\u00e2\u20ac\u009d says in a report today that \u00e2\u20ac\u0153Dealers said that gold’s fall from the record highs was partly driven by investors and funds seeking to cover margin calls from losses in stock markets due to the recession fears.\u00e2\u20ac\u009d<\/p>\n

To put things in perspective, the paper precedes this with a quote from James Moore of TheBullionDesk. com:<\/p>\n

\u00e2\u20ac\u0153Commodities opened the year spectacularly, it’s only natural really that we see some profit-taking as the gold market was very long. The currencies have been the main factor this morning,\u00e2\u20ac\u009d analyst James Moore of TheBullionDesk.com said.<\/p>\n

\u00e2\u20ac\u0153We’re seeing a period of consolidation. I don’t see this as a reason for panic, given that there are concerns about the U.S. economy and the potential for recession plus the fact that interest rates there are expected to be cut,\u00e2\u20ac\u009d he added.<\/p>\n

A couple of days ago in a post we had some comments of analysts on what gold was doing and what investors in gold – whether in the precious metal itself\u00c2\u00a0in the form of\u00c2\u00a0gold bars, gold coins<\/a> or gold\u00c2\u00a0jewelry, or else in gold stocks and shares or alternatively gold ETFs – should or should not be doing right now.<\/p>\n

As was pointed out, sometimes the question is really, are the analysts giving it to us like it is, or do they have some other agenda.<\/p>\n

In this regard I came across an interesting downloadable audiobook<\/strong> on gold called \u00e2\u20ac\u0153Gold, Hard Money, and Financial Gurus<\/a>\u00e2\u20ac\u009d.<\/p>\n

As the synopsis says, after covering the question \u00e2\u20ac\u0153To what degree should investors seek security in gold, or in other kinds of hard money\u00e2\u20ac\u009d, in the second part of the presentation the audiobook discusses \u00e2\u20ac\u0153the financial writers and gurus whose analysis and comments reflect, and sometimes influence, the world of finance and economics.\u00e2\u20ac\u009d<\/p>\n

\u00e2\u20ac\u0153Gold, Hard Money, and Financial Gurus<\/a>\u00e2\u20ac\u009d is one of a series of 12 called \u00e2\u20ac\u0153Secrets of the Great Investors\u00e2\u20ac\u009d \u00e2\u20ac\u201c if you type that into the search box on the page as I did \u00e2\u20ac\u201c without the \u00e2\u20ac\u0153quotes\u00e2\u20ac\u009d \u00e2\u20ac\u201c you get an overview of the whole series.<\/p>\n

If you do a lot of commuting by car, train, subway or whatever you might find this an interesting way of filling in the time, or you can just listen on your computer straight after downloading. Silence may be golden, but good information is worth it\u00e2\u20ac\u2122s weight in gold<\/strong>!<\/p>\n

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