GOLD making a run for a record again....??

Which is OK by me. I DO wish silver would at least try to keep up... lol!

http://www.ft.com/cms/s/2/cf7e4434-d03d-11de-a8db-00144feabd...

Super-rich buy gold and sell hedge funds
By Steve Lodge
Published: November 13 2009 10:42 | Last updated: November 13 2009 10:42
The investment preferences of the world’s wealthiest families have shifted significantly in favour of gold and other commodities and away from hedge funds in the wake of the financial crisis, according to a survey of family offices and advisers of the super-rich.

Two-thirds of the 100 respondents to a survey by the Family Office Channel, a new website, said that super-rich families are now more likely to invest in gold and other commodities. They are also more interested in bond investments and in holding higher amounts of cash as part of an “instinctive retreat to ultra-safe asset classes”.

EDITOR’S CHOICE
Managers seek out specialist niches - Oct-16

Fees shake-up will result in extra sums - Oct-16

Retail investment products: heading for extinction - Oct-16

Investors set to pay more for advice - Oct-16

Asia’s rich hit hard by financial crisis - Oct-13

By contrast, two-thirds of respondents said the wealthiest families are less likely to invest in hedge funds and structured products – investments offering capital protection - with one in three reporting “greatly reduced” interest in these holdings.

Private equity and commercial property are also much less popular asset classes, while attitudes to residential property investment remain largely unchanged.

The findings confirm reports of a flight to safer asset classes, says the survey. Wealthy families’ risk appetites have suffered from frauds uncovered in the financial crisis as well as the poor performance of investments. More than nine out of 10 respondents said the level of trust in financial institutions and investment advisers has been hit by the Madoff and Stanford frauds.

“Madoff, Stanford and bank failures are not necessarily seen as one-offs – families clearly feel they cannot rule out the idea that the failings symbolised by these events are systemic,” according to the survey, which was conducted last month.

It also found that more than half of wealthy families have recently reviewed their tax position and structures as a result of increased scrutiny from tax authorities.

Two-thirds of respondents said their philanthropic activities have suffered in the downturn, but some wealthy families are said to be giving more to try to counteract the impact of recession on charities.

Copyright The Financial Times Limited 2009. You may share using our article tools. Please don't cut articles from FT.com and redistribute by email or post to the web.

It is trading up around $1131 at 2:24am EST

MG Financial Group
Forex Rates
EUR/USD
USD/JPY
GBP/USD
USD/CHF 1.4968
89.54
1.6717
1.0086

Shortened since link was available ... please do not post whole articles due to copyright infringement.
Thanks ever so ~ Mod Squad


Yra Harris Comments On This Week’s Market Action

Posted: Nov 15 2009 By: Yra Harris Post Edited: November 15, 2009 at 10:51 pm

Filed under: General Editorial
Jim Sinclair’s Commentary

Yra Harris shares his genius with us. I consider his summation all you need to know to be right up to the minute of what is real out there. All else is prattle, blather, and simple nonsense.

It is all here.

Dear CIGAS,

Not only can Geithner speak Mandarin and Japanese, but he can also evidently moonwalk as well as Michael Jackson.
It seemed on Thursday that Geithner was trumpeting the insertion of the phrase “market oriented exchange rates that reflect underlying economic fundamentals.”

Unfortunately for the Treasury Secretary, the Chinese had not let this desired phrase to be signed onto. Hu Jintao the Chinese president would not allow it to be entered into the final memorandum.

This was yet another slap at Geithner which will force him to do more back stepping than the late Michael Jackson. Not only did the US fail to get a discussion about currency floatation, but the USA was widely criticized for inflating asset bubbles with their low interest rate policies. The US was then hammered on the lack of a free trade policy. Even Mexico jumped on the US for its incipient protectionism.

This was not a successful meeting for the US and we can only hope that Obama comes off better on his trips to China and South Korea.

Continue ~

http://jsmineset.com/2009/11/15/yra-harris-comments-on-this-...

A prudent man foresees the difficulties ahead and prepares for them; the simpleton goes blindly on and suffers the consequences. Proverbs 22:3
Matthew 10:34 Think not that I am come to
send peace on earth: I came not to send peace,
but a sword.

use conventional wisdom and market dynamics to determine which direction gold is going to move. Gold has decoupled from the system...because everyone knows that the system is a ponzi scheme.....where bankers pyramid money with money. I would not be surprised to see gold hit $2500. an ounce by this time next year...or $400. and once....who knows? We are not in a reality based system...It's an Orwellian virtual marketplace and the central bankers (try) to control the virtual market...and they can change the rules at any time!

In the words of Ted Nugent..."It's a (explative) Free-for-All"

Another all-time high. Closed at $1118.50 !
Have a great weekend, Mr. Gold.

SWOOOOOOOSH !

Coaster today....It is almost to 1120.00 with one hour to go....if it closes anywhere near 1120....this will ring very loudly over the weekend as close to a new low resistance point of $1100. Heavy resistance now at $1100. Amazing. Such a narrow trading pattern...$1100 to $1120.

This is good in my opinion when it goes sideways like this....It looks like it is ready to go up through resistance again.

Silver is only affordable metal remaining to buy.

Metal Bid Ask
Gold $1,119.10 $1,120.10 up $12.50
Silver $17.38 $17.43 up $0.15
Platinum $1,389.50 $1,399.50 up $35.30
Palladium $354.00 $359.00 up $7.10

Updated:11/13/2009 2:46:01 PM CST

The debasing of the dollar (The beatings) will continue until it crashes (moral improves).

Dollar Falls as Global Economic Optimism Spurs Demand for Risk
By Ye Xie and Anna Rascouet

Nov. 13 (Bloomberg) -- The dollar declined against most of its 16 major counterparts tracked by Bloomberg as speculation the global economic recovery is gathering momentum encouraged demand for higher-yielding assets.

The U.S. currency dropped against the New Zealand dollar and Norwegian krone as a report showed the nations using the euro emerged in the third quarter from their worst recession since World War II. The yen was the biggest winner versus the greenback among the most-traded currencies as concern eased that Japan may have trouble financing its budget deficit.

“The world economy is picking up steam,” said Folker Hellmeyer, chief analyst in Bremen, Germany, at Bremer Landesbank, in an interview on Bloomberg Television. “Germany, in particular as an export nation, is benefiting.”

The dollar slid 0.3 percent to $1.4888 per euro at 11:57 a.m. in New York, from $1.4850 yesterday. The greenback was down by the same amount this week against Europe’s currency. “Going into the first quarter, I even see more room up toward $1.60, $1.65,” Hellmeyer said of the euro.

http://www.bloomberg.com/apps/news?pid=20602081&sid=asnl3gul...