Dividend and Exchange Traded Fund Stocks Discuss IAU - iShares COMEX Gold Trust (ETF) in the Stock Market Discussions - Stock Dividend Stocks forums; Gold is expected to keep climbing for years ahead. This ETF is pretty cool in that you kind of own the gold by buying shares. I have a small position ...

**BadThad** · #1 02-01-2008, 04:41 PM

Gold is expected to keep climbing for years ahead. This ETF is pretty cool in that you kind of own the gold by buying shares. I have a small position in this ETF. The price is slightly down, right now is a good time to get in IMO.

IAU on Google Finance

Quote:

The objective of the trust is for the value of its shares to reflect, at any given time, the price of gold owned by the trust at that time, less the trust's expenses and liabilities. The trust is not actively managed. It receives gold deposited with it in exchange for the creation of baskets of iShares, sells gold as necessary to cover the trust's liabilities, and delivers gold in exchange for baskets of iShares surrendered to it for redemption. The trust is not an investment company registered under the Investment Company Act of 1940 or a commodity pool for purposes of the Commodity Exchange Act.

Today's Price: $89.54

I'll periodically post the PPS to track this one.

**BadThad** · #2 02-20-2008, 02:05 PM

Gold keeps rising, it should make another move when the Fed lowers the rate. This is a solid long-term investment play IMO....one of the few stocks I'm in the green with during this bear.

**BadThad** · #3 02-20-2008, 05:35 PM

Wooohoooo....gold set a record high, it's going over $1000 an oz this year!

stockzilla · #4 02-26-2008, 08:41 AM

Slight pulback yesterday but trending up and riding high above the 50 SMA. I expect gold will see 1,000 before long.

**BadThad** · #5 02-29-2008, 02:31 PM

Quote:

Originally Posted by stockzilla

Slight pulback yesterday but trending up and riding high above the 50 SMA. I expect gold will see 1,000 before long.

It keeps creeping up, this will be another good year for gold.

stockzilla · #6 02-29-2008, 11:31 PM

Im thinking its gonna be a steady climb to 1200, then a slow creep to 1500.

**BadThad** · #7 03-03-2008, 02:20 PM

Just keeps moving north, this stock will be over $100 before long.

**BadThad** · #8 03-04-2008, 11:47 AM

Go baby go!

Quote:

LONDON, March 4 (Reuters) - Platinum hit record highs on Tuesday as speculators bought on worries over supplies, while gold consolidated recent gains before making a stab at the key $1,000-an-ounce level.

Spot platinum <XPT=> hit a session high of $2,290 an ounce and was at $2,270/2,280 by 1458 GMT, compared with $2,230/2,237 late in New York on Monday.

"Platinum is very strong, inventories are low, fundamentals are very supportive," said Suki Cooper, analyst at Barclays Capital. She added that the global deficit this year could be up to 600,000 ounces.

"Given the strength of investment demand this year, the platinum deficit could be greater than that."

Platinum, used in jewellery and auto catalysts to clean exhaust fumes, has risen nearly 50 percent this year as a power crisis which has disrupted mining in main producer South Africa sparked supply fears.

David Thurtell, metals analyst at BNP Paribas, said supply concerns and weaker dollar had been supporting the market. He said that price dips would attract buyers.

"Platinum has got limited downside. The weak longs have been cleaned out," he added.

Gold <XAU=> hit a bid high of $987.90 a troy ounce and was at $983.10/983.90, up from $981.20/982.00 late on Monday when it touched a record high of $989.30.

Another significant reason behind gold purchases has been the falling U.S. currency against the world's major currencies which makes dollar-denominated metals cheaper for investors in other currencies.

The dollar was trading near record lows against the euro and analysts think further losses are likely if as is widely expected the U.S. Federal Reserve cuts rates aggressively at its March 18 meeting. [ID:nL0451569] [FED/R]

"We believe $1,000 is on the cards. The dollar is weak, the Fed is easing and inflation fears are very supportive," Cooper said. "The environment is positive."

Investors also use gold as a hedge against inflation, which is often triggered by rising commodity prices, specifically oil CLc1 which on Monday hit a record high of $103.95 a barrel on growing fears that OPEC will not increase supplies.

Spot palladium <XPD=> rose as high as $588 an ounce, its highest in more than six years and was last at $585/590, up from $576/580 on Monday.

"We have heard commentators talk about switching from platinum to palladium in industrial applications, which we believe to be erroneous, at least for the next few years," UBS said in a recent note.

"While jewellery demand for palladium may improve, there is no physical scarcity of palladium and very little chance that we will run out of the metal."

Silver <XAG=> tracking gold was at $20.34/20.39 an ounce from $20.27/20.32 an ounce, having reached a 27-year peak of $20.60 an ounce on Monday.

**BadThad** · #9 03-04-2008, 03:46 PM

Nice dip today, I added to my position:

Quote:

NEW YORK (MarketWatch) -- Gold futures dropped sharply Tuesday, as traders locked in recent gains after the metal's surge to a record high in the previous session.
Gold for April delivery dropped $18.40 to $965.80 an ounce on the New York Mercantile Exchange.
Around 11 a.m. Eastern, "we had a huge liquidation coming into the market," said Zachary Oxman, a senior trader at Wisdom Financial. Around that time, there was a significant spike in volume of more than 3,700 contracts, which has spurred this decline, Oxman said.
"I think you're seeing fund liquidation, which is bringing in more selling," he said. "I'd be careful to start liquidating now because this looks more like a cash call type of liquidation, and I'd be adding to longs on this dip."
On Monday, gold hit a record $992 an ounce.
On the currency markets, the Canadian and Australian dollars both fell against the U.S. dollar Tuesday after divergent policy moves by their respective central banks, though the greenback weakened against most other rivals.
The dollar index, which tracks the performance of the greenback against a basket of six other major currencies, edged down 0.1% to 73.60. See Currencies.
"Gold has remained underpinned this morning and given the ongoing concerns towards the U.S. economy and the pressure this is putting on the greenback, it seems inevitable gold will challenge the $1,000-an-ounce level in the very near future as investors diversify towards stronger-yielding assets," said James Moore, an analyst at TheBullionDesk.com, in a research note.

**BadThad** · #10 03-06-2008, 10:56 AM

Another dip today after setting a record high yesterday. These dips make for good buying opportunity, I say gold is going over $1000 soon.