“The current key drivers behind the rise in silver are similar to that for gold, including quantitative easing I, II, likely III and possibly IV, paper currency debasement, sovereign debt issues, concerns over future inflation and strong investment demand, particularly from emerging markets.”
Oil Shoots for the Century Mark
The daily changes haven’t been dramatic, but they add up and the trend is hard to miss. Since Nov. 22, crude prices have jumped 11%.
In 2010 we watched the stock market and many commodities like silver, cotton and coffee explode in price, will 2011 be the year of commodities, and can inflation be far behind? All of these increases in commodity prices point to a continued global recovery despite the global debt problems.
GREAT post, Dss!!! So right on. I hope ICan has a market onrder in. I see on the gold 60 minute chart it's got a lower low, so I'm still waiting, but it might pop and not see another pullback to get a higher high. I'm going to put a market order in at 137.32 and watch for a pop, if there's no pop and we get close to overbought stochastics at 137, I'll get out of the market order.
ReplyDeleteI'm looking at the GLD day chart and it looks like it could pop in the trend direction any day now.
ICan, thanks for the kind words. I'm afraid, with a 13 year assignment remaining, I am home. With the actuarial tables what they are, this looks like my settling place. But it could be lots lots worse, I could be having to shovel my roof like Mannwich.
@Dss:
Yeah, they have to send the old man. You know, it's one of those deals where "it ain't my job, man", but somehow, they send me out on these deals when they really should be sending an IT guy. I shoulda never learned to speak mandarin. Or, actually, Bejing-hua. I'll have to go again to confirm the installation, probably over Christmas, and again when all the meetings start. But I did get some of the roast duck at my favorite spot, so I guess there are perks as well.
@Dss
ReplyDeleteSince I only got 9 comments, I guess I shoulda made the above into 3......
I do not do well with overnight flights :-(
ReplyDeleteWaiting for a delayed flight out of London.
Looks like that other anonymouse site is shut down due to circumstances.
ReplyDeleteWow, I have to fix that chart.
ReplyDeleteMy internet has been down since last night.
Chart looks OK from here.
ReplyDeleteI certainly got the gist of it.
Thanks, Rock,
ReplyDeleteQuiet time here over the holidays. Good time to catch up on reading, looking at charts, and doing research.
Thor,
ReplyDeleteGlad you made it to London. I hate flying overnight.
@Rock,
ReplyDeleteI thought the year's chart of the commodities told a great story, that the recovery is happening (not all places are doing as well as others) globally and next year might be a year of growth in the world economies.
Deflation in homes, inflation in everything else? Like Japan?
Is this the future in America?:
ReplyDeleteAlabama Town’s Failed Pension Is a Warning
"Then Prichard did something that pension experts say they have never seen before: it stopped sending monthly pension checks to its 150 retired workers, breaking a state law requiring it to pay its promised retirement benefits in full."
Dss, I read that this morning, very sad :(
ReplyDeleteEven when I was a young whipper snapper, I never thought I would see any of the social security that I have paid in.
And what happens when they stop sending those payments out? Oh they will still try and collect it on the younger generation, but they will probably start playing games on the people who expected and planned on having it.
Sad, sad, sad...
Mutt
@Mutt,
ReplyDeleteThat is why they wanted to privatize Social Security, so that they didn't have to pay for people's retirement, and the average American who has a difficult time balancing their checkbooks should be able to act as their own financial planners for 50 years.
All of the Social Security shortfall would be met if they only would tax income with no caps, like they do with Medicare.
Not having to pay Social Security over $109k of income is for the most part another back door way of ensuring that the wealthiest among us pay as little tax as possible. No one ever talks about it that way, and I bet that most Americans don't even know that people making over $109k don't pay SS on those earnings.
People are kept in the dark and fed class war fare bullshit.
Merry Christmas and happy holidays to all!
ReplyDeleteICan
Greetings everyone! Totally spent after some great skiing the past few days. Great condition and weather. Will post sime great pics when I get back. Back off the hill to the front range tomorrow where they have no snow and nice temps and weather, around 40-50. I hope everyone has a great holiday!
ReplyDeleteHey Manny,
ReplyDeleteGlad to hear you are having a great time! Can't wait to see the pics!
I guess we're not working tonight. It's 10:30 and my screens are not jumping around.
ReplyDeleteWell, it's Christmas Eve here, and the pumpkin pies are in the oven, the yams are cooling on the stove ready for being candied, and the Christmas Turkey, not spared by presidential pardon, is thawed and waiting in the refrig.
So I wish everyone a very merry and happy and safe Christmas.
The very best of regards
Rock
@Rock,
ReplyDeleteCan we exchange weather. You can have our snow. But it's sunny and mild( still -6C).
Toronto market is open till 1pm. Barry mentioned coal(Arch) and oil(SU) in one of his threads. There is already talk of $100 oil in papers. Kill the goose that lays the golden egg! What better time than Christmas to hike oil to $100. Q1 is slow driving time anyhow, so do your own due diligence.
ALthough I own Suncor in my investment portfolio - for long term, I still think $100 oil is unwarranted for.
I Can
"China to gear up fight against inflation". http://www.financialpost.com/news/international-business/
ReplyDeleteThis story may bring down oil. Ofcourse everyone wants cheaper commods.
ICan
Merry Christmas buddies.:) Enjoy time with your family.
ReplyDelete