Wednesday, February 20, 2013


Photo by Emma Allen. Meighan Taylor, right, 12, helps her cousin, Julee Pillans, 11, to pan for gold in the Wakamarina River.

The gold price has fallen to a six month low - $1,592 an ounce - 20 February 2013.

Gold investors are destined for heavy losses in the short-term, according to fund manager Mark Harris.

Investors would be unwise to buy gold until its price drops to $1,500, says Harris

Harris relates: "I originally started buying gold back in 2002 when Gordon Brown - who was chancellor at the time - was selling it. We had a good 10 years of gains and it was all going one way. However, we are now in a correction phase."

With sentiment towards global equity markets improving, and inflation staying at relatively low levels, Harris says gold is likely to be an out-of-favour asset for quite some time.
Angelos Damaskos, manager of the £16.1m MFM Junior Gold fund, says the gold price has been in decline because of the improving macroeconomic outlook.

However, he expects an inevitable correction will "spook the market, encouraging investors to turn to gold as the ultimate safe haven".

The rising cost of holidays has helped Thomas Cook and TUI lessen losses -This is Money-7 Feb 2013

Thomas Cook has reduced its supply of holidays and pushed up prices by 12 per cent over the winter and 3 per cent for the summer.

Its bookings for the summer are down 5 per cent.

TUI Travel is continuing to take market share from Thomas Cook, whose turnaround task remains 'very difficult'.

Thomas Cook has trimmed its operating loss 24 per cent to £70million in the three months to December 31.

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Clothcap said...

I've seen a few sources say it is the big institutions cashing in paper gold that is expected to continue to May.
Physical gold is still the best bet as a hedge against sudden global currency collapse and as a long term investment in any case.

Because of the US' inclination to confiscate gold probably it is better for Americans to buy silver or other precious metals.

(Having a 3 month reserve of food is a good idea too.)

Corbett report has some relevant info -
G7 Lies, South American Economy, Swiss Gold (Video)

Aangirfan, thanks for your amazing efforts wrt child abuse and murder. My hope is for free masonry to be associated with paedophilia in the public mind and for the org to acquire pariah status. If you could emphasise connections wherever possible I'd appreciate it.

Economic Problem said...

For the past few weeks the price of this yellow metal had shown some improvement based on several statistics that had been shown on several gold investment sites.

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