Gold and commodities

Kicking, Easyrider, anyone else,

After some research, I found out about gold futures, but very few of those contracts trade every day.

Is the Comex part of the Nymex or another exchange?
Which (retail) brokers allow trading the Comex contract?
Easyrider, when you said that you have been putting your spare cash in gold, what vehicle have you been using to do this?

Kicking, there is no gold stock ETF. Thom Calandra at CBS MW has been writing about this for a few weeks now. But you can buy a gold bullion ETF - Central Fund - AMEX: CEF.

Originally posted by kicking
What are the ways to play a Gold bull market, besides individual stocks, the COMEX contract and the physical ? Is there an ETF for the gold mining stocks? What about the minis, are they tradable ?

Anybody (day)trading emiNY crude oil?
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Originally posted by easyrider
Ive been putting my spare cash in gold for awhile now so you know what my opinion is. Zeal thinks its possible for gold to hit $5000 an ounce someday. lol.
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Bit of a delayed response - Soros says he sees the US dollar weakening, but then goes on to say there are no good alternatives to dollar denominated investments.

I wonder - If you want to capitalize on the fall of the USD, which currency do you trade it against? Soros seemed to put down both the Yen & Euro as possiblilities.

J-S
 
m22ua

Ive been buying bullion coins whenever they drop to the 300 area and the premium is reasonable. Eventually they will break through the $325 resistence and then we could see a nice move.
 
In a deflationary environment, you'll make money on gold as long as it stays where it is. It will become a deflationary hedge, much as it was an inflationary hedge during the times of high inflation.

While a lot of people question the potential upside, its probably better to question the potential down side. What are the odds of Gold going under 275 an ounce. Zero.

Most mines can't even produce it at that price. $290 is break even for most of them. And the lower the price goes the more mines close keeping it at an equilibrium.

Gold has very little downside. Now that most countries have sold their reserves, there is little available supply for actual delivery. If something triggered a major spike it could go to $400 in a few weeks.

Runningbear
 
If you are very bearish on the US economy (high levels of consumer debt, large current account defecit, potential JPM derivatives problem), then gold would be the thing to buy with proceeds of a USD short.

The next safe currency (gold being a currency) is the Swiss Franc (CHF). It's already had an incredible run this year against the USD.

Next after that would probably be the Euro.

I'd stay clear of Yen while the Japanese economy remains sick.


Originally posted by J-S
Bit of a delayed response - Soros says he sees the US dollar weakening, but then goes on to say there are no good alternatives to dollar denominated investments.

I wonder - If you want to capitalize on the fall of the USD, which currency do you trade it against? Soros seemed to put down both the Yen & Euro as possiblilities.

J-S
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Originally posted by m22au
Kicking, Easyrider, anyone else,

After some research, I found out about gold futures, but very few of those contracts trade every day.

Is the Comex part of the Nymex or another exchange?
Which (retail) brokers allow trading the Comex contract?
Easyrider, when you said that you have been putting your spare cash in gold, what vehicle have you been using to do this?

Kicking, there is no gold stock ETF. Thom Calandra at CBS MW has been writing about this for a few weeks now. But you can buy a gold bullion ETF - Central Fund - AMEX: CEF.


I recently began trading gold futures on the Comex/Nymex Exchange(GZ02Z). They are pit traded( and electronically traded afterhours). You can also trade Gold mini futures on the CME (YG02Z)during the day(no afterhours seesion).

The pit traded contract trades decent volume and tends to follow the market mood intraday. Overall it's primarily a position trading vehicle.


They both have some very odd trading hours.
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Thanks for the post Cdntrader.

In my previous post, the gold futures I was referring to was the YG mini futures (30 ounces I think). But less than 50 contracts a day and very wide spreads. :(

Please excuse my ignorance because I'm mainly a stocks person who isn't very knowledgeable about futures.

As for the pit-traded contract, is that the one traded on the Comex, with the price quoted on sites such as Kitco.com ?

Cdntrader,
If you don't mind sharing, who is your broker? If you don't want to say on this board, please send a PM.


Originally posted by Cdntrader

After some research, I found out about gold futures, but very few of those contracts trade every day.

Is the Comex part of the Nymex or another exchange?
Which (retail) brokers allow trading the Comex contract?
Easyrider, when you said that you have been putting your spare cash in gold, what vehicle have you been using to do this?

I recently began trading gold futures on the Comex/Nymex Exchange(GZ02Z). They are pit traded( and electronically traded afterhours). You can also trade Gold mini futures on the CME (YG02Z)during the day(no afterhours seesion).

The pit traded contract trades decent volume and tends to follow the market mood intraday. Overall it's primarily a position trading vehicle.


They both have some very odd trading hours. [/B]
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