WARNING: This is Version 1 of my old archive, so Photos will NOT work and many links will NOT work. But you can find articles by searching on the Titles. There is a lot of information in this archive. Use the SEARCH BAR at the top right. Prior to December 2012; I was a pro-Christian type of Conservative. I was unaware of the mass of Jewish lies in history, especially the lies regarding WW2 and Hitler. So in here you will find pro-Jewish and pro-Israel material. I was definitely WRONG about the Boeremag and Janusz Walus. They were for real.
Original Post Date: 2008-03-13 Time: 00:00:00 Posted By: Jan
[Beautiful! Folks, even this high oil price is good for those who own Gold. The high oil price is going to kick off inflation in the USA. The Americans barely know what real inflation is – like we know it in Africa. In South Africa, with our completely stupid Rand, our inflation is going to go nuts. Basically, as I see it, we have SEVERAL FACTORS driving up Gold, and Inflation. For those with Gold, this is just too sweet. We have several different things pushing all the prices and exhchange rates in the directions that will work in our favour all the way. Those with Gold will be laughing all the way to the bank! Jan]
Most-active April gold futures hit the much-anticipated $1,000-per-ounce level on the Comex division of the New York Mercantile Exchange Thursday.
April gold recently traded at $995.40 an ounce, a gain of $14.90.
The metal has climbed steadily since 2001 after falling as far as $250s a number of times during the period from 1999 to 2001.
The several-year bull market accelerated rapidly since August after the Federal Reserve signaled it was easing monetary policy to shore up the economy amid worries about the credit markets due to sub-prime problems. In fact, to hit $1,000, April gold futures soared 50% since the Aug. 16 low of $666.40.
With the Fed in rate-cutting mode, U.S. dollar weakness accelerated, plus increasing money supply heightened worries about potential inflation at a time when many commodities — such as crude oil — are already at historically lofty prices, analysts frequently said. Investors often buy gold as a hedge against both dollar weakness and inflation.
Additionally, there was “safe-haven” buying of gold due to the uncertainties in the financial markets and because of ongoing global tensions such as in the Middle East. As gold climbed, momentum-based buying was often triggered, and the funds’ net long position on Comex climbed to historically high levels.
Going into 2008, the all-time record for spot gold was $850 and for spot-month Comex futures $875, both hit back in January 1980. Gold remains far below levels that are adjusted for inflation, however, with several analysts in recent months saying this figure would be closer to $2,400 an ounce.
Crude-oil futures, meanwhile, hovered Thursday near a new record high of $110.70, made earlier in the session, as U.S. dollar weakness continues to underpin oil prices.
Crude oil for April delivery gained 36 cents to $110.28 a barrel on the New York Mercantile Exchange. On Wednesday, crude ended at a new closing high of $109.92 a barrel after earlier topping $110 a barrel for the first time.
“Judging from yesterday’s action in a variety of commodities, the thinking is that the Fed is going to jettison both the dollar and its concern about keeping inflation contained, and opt instead for lowering rates aggressively in an attempt to keep growth from collapsing altogether,” said Edward Meir, an analyst at MF Global, in a research note.
Renewed fears of financial turmoil on Thursday sent the U.S. dollar plunging, with the greenback temporarily falling through the psychologically key 100-yen level.
Also on the Nymex, April reformulated gasoline dropped 4 cents to $2.69 a gallon and April heating oil was flat at $3.03 a gallon.
April natural gas gained 1 cent at $10.02 per million British thermal units.
Source: http://www.moneyweb.co.za/mw/view/mw/en/page94?oid=198886&sn=Detail