Arab Today, arab today gold bubble on the brink of bursting
Last Updated : GMT 10:11:59
Arab Today, arab today
Arab Today, arab today

Gold bubble on the brink of bursting

Arab Today, arab today

Arab Today, arab today Gold bubble on the brink of bursting

New York - Arabstoday

Gold is poised to complete its 11th consecutive annual gain, the longest winning streak in at least nine decades, on the brink of a bear market. George Soros, the billionaire who two years ago called it the \"ultimate asset bubble,\" cut 99 per cent of his holdings in the first quarter, Securities and Exchange Commission data show. Hedge fund managers John Paulson, Paul Touradji and Eric Mindich also sold bullion this year. While speculators in New York futures are the least bullish in 31 months, the median estimate in a Bloomberg survey of 44 traders and analysts is for prices to rally as much as 40 per cent to $2,140 an ounce in 2012. Article continues below The divergence of views is widening after prices declined 19 per cent from a record close of $1,900.23 on September 5, or one percentage point away from a bear market. As some investors retreated to cash amid a $10 trillion slump in global equity values since May, others bought more metal, taking holdings in exchange-traded products to an all-time high two weeks ago. Bullion\'s 7.8 per cent gain in 2011 means it\'s on track to beat stocks, bonds and the dollar for a second straight year. \"It\'s done its job this year of protecting investors,\" said Michael Cuggino, who helps manage about $15 billion of assets, including $3 billion in gold, at Permanent Portfolio Funds in San Francisco and correctly predicted in February that prices would keep rising. \"Gold has been all over the place. If you bought gold at $1,800 then you aren\'t too happy. Some people will get out of gold, but the longer-term investors will remain.\" Bullion was at $1,531 at 11:17am in London, below this year\'s average of $1,572.47 and six times more than when the bull market began in 2001. The MSCI All-Country World Index of equities declined 11 per cent, on track for the worst year since 2008, and the Dollar Index, a measure against six major trading partners, advanced 2.1 per cent. Fixed-income securities around the world gained 4.3 per cent this year, the weakest performance since 2007, Bank of America Corp. indexes show. Investment in physical metal is cooling. The US Mint\'s sales of American Eagle gold coins in Nov-ember were the weakest since June 2008, data on its web site show. Holdings in bullion-backed ETPs fell about 35 metric tonnes since reaching a record on December 14, according to data compiled by Bloomberg.  

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today gold bubble on the brink of bursting Arab Today, arab today gold bubble on the brink of bursting

 



Arab Today, arab today
Arab Today, arab today Mohamed Bahari prepares new collection for spring 2017

GMT 06:15 2017 Monday ,27 February

Mohamed Bahari prepares new collection for spring 2017
Arab Today, arab today 17.4 million tourists visit UAE in 2016

GMT 00:47 2017 Monday ,27 February

17.4 million tourists visit UAE in 2016
Arab Today, arab today Sheds light on major steps in 12-year career

GMT 06:07 2017 Monday ,27 February

Sheds light on major steps in 12-year career
Arab Today, arab today UN envoy sets out framework

GMT 07:25 2017 Monday ,27 February

UN envoy sets out framework
Arab Today, arab today Ayat Abaza says state TV presented major stars

GMT 03:52 2017 Sunday ,26 February

Ayat Abaza says state TV presented major stars

GMT 06:44 2017 Sunday ,26 February

Doubts grow over American stock market’s surge

GMT 06:26 2017 Sunday ,26 February

Copper recovers lost ground

GMT 15:53 2017 Saturday ,25 February

Bahrain Bourse daily trading report

GMT 14:28 2017 Saturday ,25 February

Gold hits 3.5-month high

GMT 03:11 2017 Saturday ,25 February

50 Tunisian exhibitors at Gulfood 2017, Dubai

GMT 02:19 2017 Saturday ,25 February

SIEL expo, March 1-4

GMT 12:30 2017 Friday ,24 February

Norway's Telenor to leave Indian telecom market
View News in Arabic - Business: أسواق مالية
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Reading therapy relieves mental disorders

GMT 15:39 2017 Friday ,24 February

Reading therapy relieves mental disorders
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Penguins in the age of dinos

GMT 11:44 2017 Saturday ,25 February

Penguins in the age of dinos
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today 'Constructive' Vauxhall talk with union

GMT 08:54 2017 Saturday ,25 February

'Constructive' Vauxhall talk with union
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Reasons for the delay 'On the Stairs of Servants'

GMT 06:42 2017 Saturday ,25 February

Reasons for the delay 'On the Stairs of Servants'
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage

GMT 07:23 2017 Friday ,24 February

Ola Ghanem hopes to work with M.Ramadan

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 18:23 2017 Friday ,24 February

Fadi explains secrets of  Nancy Ajram's newlook

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"

GMT 10:51 2017 Saturday ,25 February

Pigs with edited genes show resistance

GMT 14:04 2017 Friday ,24 February

Messi visit will contribute in tourism

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday