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Old 02-06-2012, 07:20 AM
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Default Gold @ US$1,627, Silver @ US$28.78

Are Gold and Silver coming back as safe haven in the midst of Europe turmoil?

Greece coming election in 17 June will determine if Euro countries can drop Euro and start their own printing press.
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Old 02-06-2012, 10:55 AM
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It's a bit too early to say. Gold & Silver behaviour is a bit erractic for this round of crisis. But I sure hope it's the start of the next rally And the interesting thing is, UOB prices stay put as per yesterday's low. Hmmm...
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Last edited by anlok; 02-06-2012 at 11:30 AM.
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Old 02-06-2012, 11:57 AM
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Triggered by weak us job data and china manufacturing slow down. Expect a really bad Monday stock market. Should be good for gold..
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Old 02-06-2012, 12:05 PM
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Triggered by weak us job data and china manufacturing slow down. Expect a really bad Monday stock market. Should be good for gold..
keke....talk about the Great Singapore Sale.....looking forward to Monday's SGX's selloff
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Old 02-06-2012, 12:11 PM
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Originally Posted by anlok View Post
It's a bit too early to say. Gold & Silver behaviour is a bit erractic for this round of crisis. But I sure hope it's the start of the next rally And the interesting thing is, UOB prices stay put as per yesterday's low. Hmmm...
I think UOB does not update its price on Sat and Sun since they have stopped PM trading on weekends. The price on their site now should be Friday's.
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Old 02-06-2012, 12:52 PM
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I think UOB does not update its price on Sat and Sun since they have stopped PM trading on weekends. The price on their site now should be Friday's.
They do update on Saturday mornings but not this time round.
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Old 02-06-2012, 01:32 PM
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keke....talk about the Great Singapore Sale.....looking forward to Monday's SGX's selloff
You dare to buy now???
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Old 02-06-2012, 03:47 PM
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Originally Posted by MasterID View Post
Are Gold and Silver coming back as safe haven in the midst of Europe turmoil?

Greece coming election in 17 June will determine if Euro countries can drop Euro and start their own printing press.
You would think that the European financial uncertainty would be a boost for gold, but the experience has been that gold/silver have generally dropped with each announcement of bad news from there. Fears about the Euro has been pushing money into USD and USD strength has pushed down PMs. This latest surge came immediately after bad economic news from the US.

Of course if the EU economy collapses as a result of cascading defaults, then it may well drag down the US with it.
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Old 02-06-2012, 05:51 PM
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You dare to buy now???
Yep. But am not expending all bullets also. Just buy some and see how it goes. No venture, no gain
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Old 02-06-2012, 08:01 PM
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You would think that the European financial uncertainty would be a boost for gold, but the experience has been that gold/silver have generally dropped with each announcement of bad news from there. Fears about the Euro has been pushing money into USD and USD strength has pushed down PMs. This latest surge came immediately after bad economic news from the US.

Of course if the EU economy collapses as a result of cascading defaults, then it may well drag down the US with it.
That's what I meant by erractic In the past, when economy is bad, Gold shoots up. Given today's situation 10 years ago, the price should have burst thru 2000!
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