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Precious Metals

Precious Metals

Jim Rogers on Investing in Gold 2013

Money Morning Executive Editor William Patalon III recently had a chance to catch up with famed investor Jim Rogers on investing in gold, U.S. stocks, and the best commodities for 2013.

Renowned commodities investor Rogers is concerned about the worldwide economy, but he's not worried about the recent sell off in gold.

In fact, he stands poised to pounce on the yellow metal should it fall further.

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Precious Metals

Investing in Silver: Price Outlook for 2013

Believe it or not, investing in silver right now could double your money.

Think about it: In April 2011, silver prices rose by 170% in just 7 months. Anyone investing in silver during that period pocketed huge gains and spent a lot less than they would on buying gold.

And right now, it looks like the silver market is on the cusp of doing the same thing all over again.

According to our research, the next stop for silver prices could be $40 by year's end, and $60 by 2014.

And much higher after that.

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Precious Metals

Why Gold Prices Are Up This Week

It's been a good few days for investors holding on to gold, and we've been getting lots of questions as to why gold prices are up this week.

Gold futures had their biggest one-day gain of the year Thursday, up nearly $40 an ounce, and ended the week up 4.2% at $1,453.60.

At one point this week, gold had retraced half the loss it incurred during its April nosedive. In a two-day period, the yellow metal fell $225 an ounce, hitting a two-year low on April 15.

It is natural for any financial asset to enjoy some sort of a rebound after such a steep plunge. But there are some sound fundamental reasons as to why gold is up.

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Precious metals

Jim Rogers on Gold Prices 2013

With the yellow metal down about 14% this year, wouldn't it be great to get the scoop from famed investor Jim Rogers on gold prices in 2013- specifically, why they're down, and if investors should still bet on a long-term gold bull market?

We had a chance to ask Rogers those very questions last weekend.

Sunday evening, Money Morning Executive Editor William Patalon III spoke on the phone with Rogers – who was at his home in Singapore – in a wide-ranging discussion about gold, U.S. stocks, commodities and global central banks' "race to the bottom" – or, as Rogers calls it, "race to insanity."

In this exclusive interview, the legendary investment guru took us on a tour of the gold market, taking a close look at what's driven the past 12 years of gold price gains – and what will move the yellow metal going forward.

He also pointed out the one fundamental reason why gold prices fell recently…

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Precious Metals

Gold Price Drop Drives Global Buying Frenzy

The recent gold price drop caused some major losses in the paper gold market, but it's triggered a gold rush for physical buyers.

Ever since the precious metal got clobbered in a two-day period by heavy short selling in the futures market, there has been an unprecedented frenzy around the globe for the actual physical metal, in the form of bullion, jewelry, bars and coins.

In fact, the U.S. Mint announced Tuesday it had suspended sales of its one-tenth ounce American Eagle gold bullion coins for the first time since November 2009, as demand depleted the government's inventory.

The gold bears must be scratching their heads…

Silver

5 Factors That Will Push Silver to $250 an Ounce

All bull markets go through periods of consolidations and corrections. And precious metals are no exception.

There has been plenty about gold's swan dive, but less talk about silver. And at this point there's more potential for silver than gold…significantly more.

Because the global silver market is relatively small, silver prices tend to be more volatile; the pounding selloff we witnessed in silver this past month is a testament to that fact. But volatility works both ways, so when silver rises, its price can explode higher.

That's exactly what happened in April 2011, when silver prices rose by 170% in the space of just 7 months. That's why silver investors say investing in silver is like buying "gold on steroids."

And right now, it looks like the silver market is on the cusp of doing the same thing all over again. According to our research, the next stop could be $40 by year's end, and $60 by the end of 2014. And much higher after that.

Here are five key factors that will drive silver higher – significantly higher – in coming years.

Precious Metals

Gold Buyers Get Physical As Coin and Jewelry Sales Surge

I was honored to be in St. Paul's Cathedral attending Margaret Thatcher's funeral last week. It was quite a special opportunity to pay tribute to Britain's longest-serving prime minister in person, and the ceremony provided a reflective occasion on her influential leadership and unwavering conviction.

As her country faced an economic crisis with high inflation, high tax rates and hundreds of mining strikes, the lady's iron courage helped her make the difficult decisions that steered the United Kingdom to a more sustainable path.

A steely resolve seems to be lacking in many of our world leaders today. Maggie led the U.K. down the path of privatization, encouraging entrepreneurship and free markets because her belief was that "Socialist governments traditionally do make a financial mess. They always run out of other people's money."

In his recent webcast, Global Portfolio Strategist Don Coxe points out the effectiveness of this privatization path, showing the rise in the U.K.'s real GDP from the time she was elected Leader of the Opposition in 1975 through today.

Gold

Jim Rogers Exclusive: Once Gold Bottoms, We're Looking at "A Multi-Year Bull Market"

Gold soared 650% from August 1999 to August 2011.

But it's down 24% from the $1,885 peak and in recent days has whipsawed gold investors in a way they haven't experienced in 30 years.

The bear market has gold bugs reaching for the Dramamine. But we reached for the telephone instead and dialed Singapore – and legendary investment guru Jim Rogers.

Many of Wall Street's biggest investment banks are calling for additional blood-letting – meaning gold prices have a lot more room to fall. But in his usual contrarian manner, Rogers dismissed the consensus.

Indeed, the former hedge-fund manager and best-selling author believes this is a badly needed – even healthy – price correction.

And that will set the stage for a new bull market in gold – and a run to record prices that are sure to come in an era of cheap-money policies by the world's central banks, Rogers told Money Morning during an exclusive interview.

"Gold was setting us up for some kind of correction," Rogers said in a Sunday night telephone interview from his home. "Gold needed a correction – it still needs a correction – and I hope this is the proper correction which gold needs. Then gold – somewhere along the way – will make a bottom and we can all join in the bull market as [it] goes higher and higher."

And make no mistake: The shiny metal is going higher – much higher.

Precious Metals

Gold Prices Rise as Traders Cut Short Bets

Gold regained some of its luster Monday with June Comex gold ending up $30.50 at $1,425.80, and spot gold prices finishing up $19.80 at $1,426.75.

The gains came from short covering, bargain hunting, and strong demand for physical gold.

According to the Commodity Futures Trading Commission's Commitments of Traders report released April 19, managed money traders (i.e. hedge funds and commodity trading advisors) boosted bullish positions on gold by 21,675 contacts to 68,662 contracts, while paring bearish bets to 54,025.

The CFTC's summary of trading positions showed bullish investors returned to the gold market last Tuesday, when the data was compiled. The increased long positions came on the heels of gold's largest one-day sell off in 30 years.

The report showed managed money traders covered 12,411 shorts, as gold prices finally bounced last Tuesday.

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Precious Metals

Is Now the Time to Buy Gold and Silver?

Wondering if now's the time to buy gold and silver? Wonder no more. Let me explain.

As a collector of both precious metals, like many, I planned on loading up in the wake of recent price declines. But guess what? My usual dealers were out of gold and silver.

Thanks to the selloff, a buying frenzy for bullion has crashed websites, jammed phone lines and depleted inventory.

"Our website was overloaded for the first time ever Friday and Monday. Every phone line was lit up. We did seven times our normal volume," Jake Haugen, VP of sales for Texas-based  Provident Metals, told Money Morning.

You see, with gold on track to log its fourth weekly decline and silver headed for the worst week in about 19 months, bargain hunting abounded.

Declines in gold and silver prices began last Thursday and accelerated Monday when gold plunged $140.40, or 9.4%, to $1,360.90 an ounce, marking its biggest one-day decline in 30 years. Since its 2011 high of nearly $1,900 an ounce, gold has tumbled 28%.

Silver slumped $2.97, or 11.3%, Monday to $23.36 an ounce, well off its 1980 record high of $49.45.

As recently as last year, investors like me were paying more than $1,700 per ounce for gold and $35 per ounce for silver.

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