Close X Cookies are necessary for the proper functioning of 24hGold.com. By continuing your navigation on our website, you are accepting the use of cookies.
To learn more about cookies ...
EnglishFrench
Gold & Silver Prices in

Soros and Rogers adding to precious metal positions

IMG Auteur
 
Published : November 19th, 2012
254 words - Reading time : 0 - 1 minutes
( 1 vote, 4/5 )
Print article
  Article Comments Comment this article Rating All Articles  
0
Send
0
comment
Our Newsletter...
Category : GoldWire

 

 

 

 

Gold came under pressure again yesterday, as new figures from the World Gold Council showed demand for gold fell 11% in Q3 in comparison with the same period in 2011. Comex November gold fell 0.9% to settle at $1,713.30 per troy ounce. December silver was down 1.16% to $32.30, while platinum was down 1.30% and palladium off by 0.97%.

However, at 1,804.6 tonnes, demand was still above five-year quarterly average of 984.7 tonnes. It should also be pointed out that Q3 2011 demand was an all-time record at 1,223.5 tonnes – with demand for the metal surging amid eurozone uncertainty, the US government’s debt-ceiling negotiations, and S&P’s decision to downgrade the USA’s sovereign credit rating. So it’s not that surprising that measuring from this peak, demand has slipped slightly.

Experienced market hands are continuing to accumulate precious metals. Quantum Fund pioneers Jim Rogers and George Soros are among those who remain bullish. Soros Fund Management LLC increased its stake in the ETF GLD from 884,400 to 1.3 million shares during Q3, and also doubled its holdings of the gold miners ETF GDX. Meanwhile Rogers told CNBC recently that he expects an Obama second term to be extremely friendly towards precious metals, with federal debt increasing along with money printing and rising prices. He plans to add to his gold and silver holdings and sell US Treasuries.

The smart guys aren’t always right, but Soros and Rogers have pretty good track records. Paying attention to what these guys do in the markets can be profitable.

 

 

Thanks to Goldmoney from www.goldmoney.com
Companies Mentionned : Metals X |
<< Previous article
Rate : Average :4 (1 vote)
>> Next article
Latest comment posted for this article
Be the first to comment
Add your comment
Top articles
World PM Newsflow
ALL
GOLD
SILVER
PGM & DIAMONDS
OIL & GAS
OTHER METALS
Mining Company News
Coronado Res.(Au-Cu)CRD.V
Initiates Strategic Review of Assets
CA$ 0.30+0.00%Trend Power :
Corporate news
Global Minerals(Cu-Sb-Au)CTG.V
IIROC Trading Halt - CTG
CA$ 0.00-83.33%Trend Power :
Corporate news
Erdene(Au-Cu-Mo)ERD.TO
Erdene Announces Private Placement
CA$ 0.12+0.00%Trend Power :
Corporate news
Foran Mining(Ag-Au-Cu)FOM.V
Foran Announces Best Hole Drilled to Date in the Bigstone Copper Zone: 2.0% Cu over 105m, including 4.1% Cu over 20m
CA$ 0.36-24.47%Trend Power :
Corporate news
Beacon Minerals(Ag-Au-Cu)BCN.AX
Completion of Fourth Milling Campaign
AU$ 0.00+0.00%Trend Power :
Corporate news
Impact Minerals(Au-Ni-Ur)IPT.AX
High Grades of Rare but Potentially Economic PGM Elements Assayed at Broken Hill
AU$ 0.02+30.77%Trend Power :
Corporate news
Golden Arrow Res.(Cu-Au-Ag)GRG.V
Golden Arrow Comments on Recent Trading Activity
CA$ 0.35+2.94%Trend Power :
Corporate news
Icon EnergyICN.AX
Icon Energy Ltd Appendix 3E Daily Buy-back Notice
AU$ 0.06+0.00%Trend Power :
Corporate news
Panoramic Res.(Co-Cu-Ni)PAN.AX
More good hits at Savannah, mineralisation extended
AU$ 0.43-2.27%Trend Power :
Exploration and drilling
Titanium Corp(Oil-Ti)TIC.V
Titanium Corporation Reports Fiscal 2015 Second Quarter Results and Update on Progress
CA$ 0.85-5.56%Trend Power :
Corporate news
Comments closed
Subscribe to 24hGold’s daily market briefing
  • Prices and data of precious metals in 119 currencies and world mining companies
  • Daily analysis of the economy, markets and more
  • Free, daily and indispensable
Stay informed, subscribe now !
* Your email will never be shared.