Peter Spina Quotes (24 Quotes)


    The buying over the last two days in gold has been in Asia, with the Europeans and Americans acting a bit nervous.

    The market still shows interest in marching for the 600 level in the short run. But a break of the 540 area support will negate this and instead, we will have to see some more base building before the next run-up.

    The price of silver may move higher in anticipation of the launch, but once it hits the markets, initially the price may retreat after strong gains.

    The real action remains in silver, taking away from gold's luster.

    Silver is taking center stage ... with the news of Barclays' silver ETF a step closer to possible approval. We have some gold investors moving into the silver market.


    Iran continues to provoke conflict and the gold price is reflecting that sense of uneasiness. Iran knows they have leverage here, especially with oil above 70 and the U.S. dollar becoming ever so vulnerable.

    The move on the HUI today above 350 is significant as it portends the move in gold to and past 600.

    Gold, silver and platinum started the week off on positive footing with continued excitement in the silver markets regarding the proposed silver ETF in the United States.

    Gold continues to perform very well, despite calls from industry analysts that a correction is due at these levels. In fact, gold does not appear to want to correct just yet and is looking to run to 600.

    The typical investor has yet to discover the attractiveness of this asset -- the gold price is just starting to reflect this move as investment dollars flow in.


    We are undergoing a healthy bull market consolidation, with the likelihood there may be more pain to the downside.

    The launch of the silver ETF is expected to draw large investment money into the silver markets, which would most indisputably take silver prices much higher.

    This has resulted into greater attention to the juniors and exploration equities, with a renewed flow of speculative capital entering this sector over the past several weeks where some strong gains have been seen.

    It is just a matter of time before we have another leg down in the U.S. dollar and this will just add to the luster of gold and silver.

    All indications are that the geopolitical tensions will continue to support gold at this juncture, with the breakdown in the U.S. dollar adding even more ammo to the run.

    It's difficult to see how much investment demand will be caused by this yet, but due to the lack of silver investment products ... this should attract some good interest.

    Gold Fields had a stellar second-quarter earnings release Thursday, with a combination of a strong Rand gold price, slightly lower production costs and an increase in production to 1.04 million ounces (from 993,000).

    As Iran returns as a focal point for investors, aided by talk of Chinese increase in gold holdings, that should keep a flame under gold this week.

    As is so often the case in the precious metals, corrections tend to be vicious and quick. With the major move higher over the past several sessions, the gold market is working off some of the excesses.

    Silver stocks are powering ahead ... taking the HUI above the 315-316 resistance to all-time record highs.

    Uncertainty on future FOMC interest-rate hikes, with a strong bias of at least another quarter-point increase at the next meeting, gave the U.S. dollar a lift after the FOMC decision Tuesday afternoon.

    News that the German government has deserted plans to invest proceeds from gold sales into a special fund assigned for research and education has given a boost to a weak gold market.



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