NEWNESS: SOMALIA ELEPHANT. GOLD 31.10 GS. 2010
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Historical record of gold

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Gold raises maximums for all time!

The historical record of gold dates from the 16-11-2009 to 1,143, 90 dollars the ounce.

The price of gold cash has touched Monday, 16-11-2009, historical maximums to 1,143, 90 dollars (intraday), and at the closing of the day of the market of Friday, 13-11-2009, it arrived at the 1,119, 30 dollars the ounce, due to the distrust to the American dollar and being driven by his character of investment refuge at time of crisis and stock-exchange falls, surpassing therefore the gold records of the previous days.

record gold

A quote record of gold is due to understand as a result of the uncertainty of the markets by the economic recession and the fear to a defendant rounds up inflationary in means term by the indirect effect of the plans of economic stimulus and the injections of liquidity.

The gold possession is considered as one of the few forms to conserve the wealth and to the own patrimony during the worse financial crisis from the Great Depression.

In particular, the ounce of gold, traditionally considered like a value refuge before the inflation, has reached its maximum record to 1,143, 90 dollars, because the investors fear that the enormous packages of economic stimulus and rescues banking of the United States debilitate to the dollar and possibly cause inflation. That causes that the people look for safe refuges, which is reflected in the gold entrance.

One hopes that the prices of gold touched to the year 2009 new maximums. The consensus is that in the long term all the rescues that we are seeing, are in the automotive industry, the banking industry or others will generate inflation and that would be positive for gold.

Why one is afraid to (to hiper) the inflation?
The demand of gold is increasing while the debt of the American Government headress levels record and Reserva Federal (FED) maintains the types of interest near 0%.
Experience of the past:
The USA in March of 1980: The inflation raised an annual rate of 14.8%, after a previous increase of gold throughout the 4 previous years and to have touched a record of 873 Dollars in January of 1980.
Present consequences:
They give Greenhaus, economic strategist head of Miller Tabak & Co in New York, said: “The gold foretells the inflation instead of to be a coincident indicator judging by its bullish gust of wind before 1980. At the moment there is nothing says that the inflation will raise historical maximums. But the gold can raise much more from here. If the growth returns, the inflation will do also it.?
“The Government of the USA will have to accept one more a higher inflation to reactivate the economy. ?, Frank McGhee, main operator of Integrated Brokerage Services LLC in Chicago said.
Francisco Lopez, X-Trade Brokers, assures and concludes on the increase of the monetary supply, on the part of main the economies worldwide, to reactivate the economy: “This has an effect boomerang. When an economic recovery is really stated, the inflation is going to raise with force, are going to be the raw materials those that become refuge and the gold is going to be one of the main assets.?
Marc Faber, president of the advising company/signature and management of bottoms Marc Faber Limited: “The inflation generated by the efforts of Reserva Federal (FED) to prop up the American economy will bring terrible consequences in the long term. The Government increases to the monetary mass as never he had done before it, which will reduce the foreign investments in the United States and will debilitate plus the quote of the dollar. When there is inflation in the system - defined by a growth of the supply of money and the credit the currencies are debilitated. If you have a problem that arose as a result of an excessive growth of the credit and the indebtedness in the system, cannot be solved still accumulating it more debt.?
Daniel Sack, manager of Global Investec GSF Gold in Citywire, says: “The price of gold record (in real terms) has only arrived in the middle of its previous maximum, after the rally lived in the last 8 years. If adjusts it by the inflation, the previous historical maximum of 1980 of 850 dollars would be equivalent to 1,844 dollars present.? According to the different estimations, the number varies, and following John Williams de Shadow Government Statistics the true price of gold ssría in about 7,267 dollars the ounce.
The gold has raised more of the triple in the last 8 years, in which the Dollar fell a 67% against the Euro.
Alan Greenspan advertió already in 1966:
“The abandonment of the gold standard made possible that the estatistas used the banking system like instrument for a limitless expansion of the credit. Without gold standard, there is no form to protect the savings against the inflation.?

Next, key data on the history of the quote of gold from the decade of 1970:
* August 1971 - The then president of the United States, Richard Nixon, eliminates the parity of the dollar with the gold standard, effective with smaller modifications from the Agreement of Bretton Woods of 1944, that established a rate of fixed conversion for one ounce troy of gold of 35 dollars.
* August 1972 - The United States devaluates the dollar to 38 dollars by ounce of gold.
* March 1973 - The majority of the great countries adopts a system of type of floating exchange rate.
* January 1980 - The gold touches a record of 850 dollars by ounce. A strong inflation by the high price of petroleum, the Soviet intervention in Afghanistan and the impact of the Iranian Revolution causes that the investors turn upside down to the metal.
* August 1999 - The gold falls to minimum of 251.70 dollars from fear of which central banks reduce their gold ingot reserves and the mining companies sell gold to protect themselves before the fall of the prices.
* November 2005 - Gold cash surpasses the 500 dollars for the first time from December of 1987, when it touches the 502.97 dollars.
* 12 of May of the 2006 - the prices of gold raise 730 dollars by ounce. Bottoms and investors inject money in the raw materials by the backward movement of the dollar, a political rise of the prices of petroleum and tensions by the nuclear ambitions of Iran.
* 13 of March of the 2008 - Contract of referential gold dent to more than 1,000 dollars for the first time in the American market of futures.
* 17 of March of the 2008 - Gold cash reaches its historical record of 1,030, 80 dollars by ounce. The American futures also touch a record of 1,033, 90 dollars.
* 17 of September of the 2008 - Gold cash raises to almost 90 dollars by ounce, the greater gain in a day, because the investors who look for a safe refuge in the middle of a collapse of the action markets.
* 20 of February of the 2009 - the American futures of gold and the counted gold return to surpass the 1,000 dollars by ounce. The investors resort to gold at moments which great economies enter recession and the stock markets collapse.
* 05 of October of 2009 - George Soros:
“The brake of the United States is practically banks in bankruptcy?.
The popular investor George Soros has been united to the voices that exclaim that the recovery in the United States is going to be slow and painful. Nevertheless, from their point of view, the main guilty are “almost broken? financial organizations.
NEW RECORD OF GOLD
- - - - - - - - - - - - - - -
* 13-11-2009:
TO 1,119, 30 TO THE CLOSING OF THE MARKET.
- - - - - - - - - - - - - - -
* 16-11-2009:
TO 1,143, 90 DOLLARS INTRADIA.
- - - - - - - - - - - - - - -
Sources:
GFMS Ltd, World-wide Gold Advice, Department of Investigation of Raw materials, data base Reuters.

Jeffrey Nichols, Administrative Manager of American Precious Metals Advisers:
“I create firmly that the gold is going to raise much, much more in the next years, at levels that many think that they are unimaginable. But the markets do not climb for a long time in constant form and, when everybody jumps on board, they can appear surprises?.

Preciooro.com

16-11-2009

 

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