November 28 2011 Tweet Email This
Scottrade: $7 Online Trades. Real-Time Stock Quotes #popstck-widget{float:left; width:190px;} #trend_stock ul li {font-size:8px; margin:0; padding:2px 3px;} #scottrade{background:#dfdfdf; border: 1px solid #A2A2A2; display: block; float: left; margin: 0 10px 5px 0; padding:2px; width: 174px;} #scottrade div a img{padding:0px;} *{font-family:arial,sans-serif;} #trend_stock{ border:1px solid #a2a2a2; display:block; float:left; overflow:auto; margin:0 10px 5px 0; width:178px; } .wdnewstext{ background:#b1e26c; padding:4px 0 0;} .wdnewstext h3{ color:#000; font-size:10px; margin:0; padding-bottom:5px; text-align:center; text-transform:uppercase; } #trend_stock p{ color:#000; font-size:10px; margin:0; padding:3px 0; text-align:center; } ul.stock_widgt{float:left; margin:0 0 5px; padding:0; width:100%;} ul.stock_widgt{padding-bottom:0px;} .stock_widgt li{ background:#eee; display:block; font-size:8px; margin:0; padding:2px 3px;} .stock_widgt li.odd{background:#fcfcfc;} .stock_widgt li.even{background:#fff;} .stock_widgt li a{ color:#003300; letter-spacing:-0.08px; text-transform:uppercase; text-decoration:none;} #trend_stock ul li {font-size:8px; margin:0; padding:2px 3px;} .stock_widgt li:first-child { border-top:1px solid #ccc;} .stock_widgt li:last-child { border-bottom:none;} Today's Trending StocksClick a Company to Research Now:
Commercial Metals Company (CMC) POZEN Inc. (POZN) Evergreen Energy Inc. (EEE) Lucas Energy, Inc. (LEI) Greif, Inc. (GEF) Royale Energy, Inc. (ROYL) Celsion Corporation (CLSN) Arena Pharmaceuticals, Inc. (ARNA) UnitedHealth Group Inc. (UNH) Copart, Inc. (CPRT) Brokerage PartnerThe past couple weeks have been a somewhat trying time for precious metal investors. After liquidity concerns and euro zone theatrics, precious metals have been in a downward spiral. On Friday, gold settled at $1,685.70, while silver closed at $31.01. However, investors continue to acquire physical gold and silver in order to protect themselves from the current financial landscape.
Canadian billionaire, Eric Sprott, has been a strong investor and supporter of silver. He is the CEO and Chairman of Sprott Management, a $10 billion investment firm. In 2010, Sprott purchased $580 million in silver, which was accompanied by a huge gain in silver prices. Now, Mr. Sprott is planning to purchase more physical silver. According to Profitimes, Eric Sprott recently filed a prospectus for the purchase of $1.5 billion of silver bullion in order to cover expected demand for the company's exchange traded fund, Sprott Physical Silver Trust. At a price of $35 per ounce, this would led to nearly 43 million ounces of physical silver being bought. A staggering number that could easily send silver soaring in the coming months.
In a recent interview, Eric Sprott was asked how the current stage in the financial crisis would compare to 2008 and 2009. He said, "I think it's going to be a lot worse because it took a certain amount of money to bail out Lehman, and all of the counter-parties to Lehman. But when you have governments and sovereigns and major banks that have these issues, I just can't imagine there is enough money to bail it out." Eric Sprott believes so strongly in silver that he is recommending silver producers save their money in silver, rather than cash. In a KWN interview, Sprott explains, "I'm writing a letter basically suggesting to the silver producers, you know you guys have all of this money in banks, why do you have it in banks? Put it into silver, it's a way better asset than having a bank deposit that pays zero interest rate and you take all of the risk of the bank on."
Sprott Management is not the only entity taking advantage of lower precious metal prices. According to newly released IMF data, Russia purchased 19.5 metric tons of gold in October, which brings their total gold reserves to 871 tons. GoldCore explains that Russia has been accelerating their gold purchases in order to add to its gold and foreign currency reserves. "This trend may continue to accelerate given the increasing tensions between Russia and the U.S. over Syria, the Middle East. Missile defense in Europe and other geopolitical and economic disagreements. Russian Prime Minister Vladimir Putin recently accused the United States of living beyond its means like a parasite on the global economy and said dollar dominance is a threat to the financial markets."
In our Gold & Silver Premium Newsletter, we advocate purchasing physical precious metals, as they offer no counter-party risk. Throughout history, investors often turn to gold and silver for safe-haven protection. Investors looking to add gold or silver to their portfolio should consider doing so, sooner rather than later. Like normal insurance, gold and silver can be hard to obtain in a true time of need. In August, Venezuela ruler Hugo Chavez decided to repatriate his $11 billion of gold from foreign bank vaults. On Sunday, Chavez finally received his first shipment of gold, three months after the decision. President of Venezuela's Central Bank said the following about gold, "It has historic value. It has symbolic value. And it has financial value. This guarantees that if there are financial problems in the international markets our gold will be safe here at home."
If you would like to receive more professional analysis on equity miners and other precious metal investments, we invite you to try our premium service free for 14 days.
Get Your FREE Special Report: 4 Things You Must Know About the US Economy Now!
#more_entries{ margin-bottom:10px; border-bottom:1px dotted #DDDDDD; border-top:1px dotted #DDDDDD; display:block; float:left; font-family:"Helvetica Neue",Helvetica,Arial,sans-serif; margin-bottom:10px; padding-top:5px; padding-bottom:5px; width:100%; } #more_entries ul{text-decoration:none; padding:0; margin:0;} #more_entries ul li, #new_art_container ul li{margin:0;list-style-type:none !important; padding-bottom:2px; padding-top:2px; font-size:12px; line-height:18px; } #more_entries ul li:first-child, #new_art_container ul li:first-child{padding-top:0;} #more_entries ul li a, #new_art_container ul li a{text-decoration:underline;} #new_art_container{float:left; width:50%;} #more_entries h3{color:#003300;font-weight:bold; font-style:italic; font-size:12px; line-height:18px;} #more_entries h3 a{text-decoration:none; color:#333; font-style:normal;} #wscs_cat_rel{float:right; width:40%;} You Can't Afford to Miss These New Articles: Google Remains King of the Video Web Apple Throws Water on Amazon High Dividend Equities: Winning and Losing Stocks for Nov 28th Basic Materials Sector Review: Winning and Losing Stocks on Nov 28th Capital Goods Sector Review: Winning and Losing Stocks on Nov 28th More from: CME, Features, Fox Business, Gold, Hot Feature, Metals, Precious Metals, The Daily Gold, The Trade 10 Active Stocks: Groupon Shares Nearly Half Off IPO, AMZN Pops With Kindle, and eBay Scores With PayPal Tweet Email ThisDo You Want More Profits? Wall St. Cheat Sheet Premium newsletter subscribers have been crushing the markets with winning stock picks.
Click here now for your FREE trial to our acclaimed flagship newsletter:
var disqus_shortname = 'wallstcheatsheet'; /* * * DON'T EDIT BELOW THIS LINE * * */ (function() { var dsq = document.createElement('script'); dsq.type = 'text/javascript'; dsq.async = true; dsq.src = 'http://' + disqus_shortname + '.disqus.com/embed.js'; (document.getElementsByTagName('head')[0] || document.getElementsByTagName('body')[0]).appendChild(dsq); })(); Please enable JavaScript to view the comments powered by Disqus. blog comments powered by DisqusTags: Business, Eric Sprott, euro zone, Gold, GoldCore, IMF, Investing, Lehman Brothers, Markets, monetary policy, NYSE:AGQ, NYSE:GDX, NYSE:GDXJ, NYSE:GDXJ NYSE:RJI, NYSE:GLD, NYSE:PHYS, NYSE:SLV, NYSEARCA:AGQ, NYSEARCA:GDX, NYSEARCA:GDXJ, NYSEARCA:GLD, NYSEARCA:PHYS, NYSEARCA:RJI, NYSEARCA:SLV, Precious Metals, russia, Silver, Trading, venezuela
Get Your FREE Wall St. Cheat Sheet Updates Now! Email: Top 6 Stories of the Week 15 Reasons Markets Moved This Week Premium Product Deal of the Month Wall St. Watchdog Alerts Top Moving Stocks of the Week Weekly Earnings Recap Advertisement: ord=Math.random()*10000000000000000; document.write(''); Looking for a Solid Job? Get on a Fortune 500 Board 15 Stocks and Companies Facing Sell Offs If Europe Collapses Here Are the Biggest Stock Turkeys of the Year Should We Support Food Stamps for Fast Food? Would Warren Buffett Buy These 14 Stocks? Dow Jones 30 Index Stocks: Quarterly Earnings Recap Are Precious Metals Holding These Key Support Areas? Are These Banks About to be Downgraded? Congress Loves These 50 Stocks Wall St. Cheat Sheet Mobile! The ULTIMATE Cheat Sheet More Popular Posts >> Wall St. Cheat Sheet PremiumTired of wasting time and money sifting through the noise on TV, websites, and Twitter? Get winning stock picks now.
Gold & Silver PremiumJoin Chicago Mercantile Exchange commentator Eric McWhinnie as he covers Gold & Silver for you.
Commodities PremiumCommodities are heating up. This is an investment newsletter you'll need to win in the bull market.
var page_count = 'off'; if (typeof OAS_rdl == 'undefined') { document.write(''); page_count = 'on';} var MMI_ClickURL = ''; var OAS_searchterms = ''; var OAS_taxonomy ='muid=0'; var MMI_RNS = (new String(Math.random())).substring(2, 11); var MMI_URL='http://msite.martiniadnetwork.com/index/?pid=1000001024902&sid=1000005276510&loc='+ encodeURIComponent(window.location.toString()) + '&rnd=' + MMI_RNS; MMI_ClickURL += ((MMI_ClickURL.split('/').length - 1) % 2 )? '/': ''; if (document.referrer != '') MMI_URL += '&ref=' + encodeURIComponent(document.referrer.substring(0,255)); document.write(''); if(typeof(OAS_pubclick) == 'undefined') var OAS_pubclick = "http://msite.martiniadnetwork.com/action/track/type/0/pid/1000001024902/sid/1000005276510/loc/" + encodeURIComponent(window.location.toString().substring(0,255)) + "/pubclick/" + MMI_ClickURL; var OAS_sitepage = 'wallstcheatsheet.com/ROS'; var OAS_pos = 'Middle2'; var OAS_RNS = (new String(Math.random())).substring(2, 11); OAS_searchterms == '' ? OAS_searchterms = '' : OAS_searchterms += '&'; if (page_count != 'on') {OAS_taxonomy += '&oas_pv=no_analytics&';} if (typeof OAS_rdl == 'undefined') { var OAS_rdl = ''; var OAS_CA = '';} OAS_query = '_RM_HTML_CLICK_=' + OAS_pubclick + '&' + OAS_searchterms + 'XE&' + OAS_taxonomy + '&' + OAS_rdl + '&if_nt_CookieAccept=' + OAS_CA + '&XE'; document.write(''); document.write(''); if (typeof MMI_AdScript == 'function') MMI_AdScript(1,'Middle2'); var page_count = 'off'; if (typeof OAS_rdl == 'undefined') { document.write(''); page_count = 'on';} var MMI_ClickURL = ''; var OAS_searchterms = ''; var OAS_taxonomy ='muid=0'; var MMI_RNS = (new String(Math.random())).substring(2, 11); var MMI_URL='http://msite.martiniadnetwork.com/index/?pid=1000001024902&sid=1000005276510&loc='+ encodeURIComponent(window.location.toString()) + '&rnd=' + MMI_RNS; MMI_ClickURL += ((MMI_ClickURL.split('/').length - 1) % 2 )? '/': ''; if (document.referrer != '') MMI_URL += '&ref=' + encodeURIComponent(document.referrer.substring(0,255)); document.write(''); if(typeof(OAS_pubclick) == 'undefined') var OAS_pubclick = "http://msite.martiniadnetwork.com/action/track/type/0/pid/1000001024902/sid/1000005276510/loc/" + encodeURIComponent(window.location.toString().substring(0,255)) + "/pubclick/" + MMI_ClickURL; var OAS_sitepage = 'wallstcheatsheet.com/ROS'; var OAS_pos = 'Top'; var OAS_RNS = (new String(Math.random())).substring(2, 11); OAS_searchterms == '' ? OAS_searchterms = '' : OAS_searchterms += '&'; if (page_count != 'on') {OAS_taxonomy += '&oas_pv=no_analytics&';} if (typeof OAS_rdl == 'undefined') { var OAS_rdl = ''; var OAS_CA = '';} OAS_query = '_RM_HTML_CLICK_=' + OAS_pubclick + '&' + OAS_searchterms + 'XE&' + OAS_taxonomy + '&' + OAS_rdl + '&if_nt_CookieAccept=' + OAS_CA + '&XE'; document.write(''); document.write(''); if (typeof MMI_AdScript == 'function') MMI_AdScript(1,'Top'); #wscsRss{margin-top:20px; padding:0 10px;} .rss300col1, .rss300col2 {float:left; margin-right:20px; width:300px;} .rss300col3 {float:right; width:300px;} .rssEntry ol {margin-left:18px;} .rssEntry ol li {list-style-type: decimal;} .rssEntry{margin-bottom:15px;} .rssEntry h4 { background-color: #C7EFC1; display:block; font-size: 12px; margin-bottom: 4px; padding:5px; } .rssEntry h4 a.rss{ background: url("http://wallstcheatsheet.com/wp-content/uploads/2011/07/rss-sprite.png") no-repeat scroll 0 -30px transparent; display: block; float: right; height: 20px; margin-right:5px; width: 20px; } .rssEntry h4 a.mail{ background: url("http://wallstcheatsheet.com/wp-content/uploads/2011/07/rss-sprite.png") no-repeat scroll 0 0 transparent; display: block; float: right; height: 20px; width: 20px; } Business Google Remains King of the Video Web Judge Throws Out Citigroup Settlement, Case Goes to Trial Looking for a Solid Job? Get on a Fortune 500 Board Black Friday: Retailers Say The Block is Hot Is Colorado Gaining a First Mover Advantage in the Marijuana Industry? TradingClick a Company to Research Now:
The past couple weeks have been a somewhat trying time for precious metal investors. After liquidity concerns and euro zone theatrics, precious metals have been in a downward spiral. On Friday, gold settled at $1,685.70, while silver closed at $31.01. However, investors continue to acquire physical gold and silver in order to protect themselves from the current financial landscape.
Canadian billionaire, Eric Sprott, has been a strong investor and supporter of silver. He is the CEO and Chairman of Sprott Management, a $10 billion investment firm. In 2010, Sprott purchased $580 million in silver, which was accompanied by a huge gain in silver prices. Now, Mr. Sprott is planning to purchase more physical silver. According to Profitimes, Eric Sprott recently filed a prospectus for the purchase of $1.5 billion of silver bullion in order to cover expected demand for the company's exchange traded fund, Sprott Physical Silver Trust. At a price of $35 per ounce, this would led to nearly 43 million ounces of physical silver being bought. A staggering number that could easily send silver soaring in the coming months.
In a recent interview, Eric Sprott was asked how the current stage in the financial crisis would compare to 2008 and 2009. He said, "I think it's going to be a lot worse because it took a certain amount of money to bail out Lehman, and all of the counter-parties to Lehman. But when you have governments and sovereigns and major banks that have these issues, I just can't imagine there is enough money to bail it out." Eric Sprott believes so strongly in silver that he is recommending silver producers save their money in silver, rather than cash. In a KWN interview, Sprott explains, "I'm writing a letter basically suggesting to the silver producers, you know you guys have all of this money in banks, why do you have it in banks? Put it into silver, it's a way better asset than having a bank deposit that pays zero interest rate and you take all of the risk of the bank on."
Sprott Management is not the only entity taking advantage of lower precious metal prices. According to newly released IMF data, Russia purchased 19.5 metric tons of gold in October, which brings their total gold reserves to 871 tons. GoldCore explains that Russia has been accelerating their gold purchases in order to add to its gold and foreign currency reserves. "This trend may continue to accelerate given the increasing tensions between Russia and the U.S. over Syria, the Middle East. Missile defense in Europe and other geopolitical and economic disagreements. Russian Prime Minister Vladimir Putin recently accused the United States of living beyond its means like a parasite on the global economy and said dollar dominance is a threat to the financial markets."
In our Gold & Silver Premium Newsletter, we advocate purchasing physical precious metals, as they offer no counter-party risk. Throughout history, investors often turn to gold and silver for safe-haven protection. Investors looking to add gold or silver to their portfolio should consider doing so, sooner rather than later. Like normal insurance, gold and silver can be hard to obtain in a true time of need. In August, Venezuela ruler Hugo Chavez decided to repatriate his $11 billion of gold from foreign bank vaults. On Sunday, Chavez finally received his first shipment of gold, three months after the decision. President of Venezuela's Central Bank said the following about gold, "It has historic value. It has symbolic value. And it has financial value. This guarantees that if there are financial problems in the international markets our gold will be safe here at home."
If you would like to receive more professional analysis on equity miners and other precious metal investments, we invite you to try our premium service free for 14 days.
Get Your FREE Special Report: 4 Things You Must Know About the US Economy Now!
Do You Want More Profits? Wall St. Cheat Sheet Premium newsletter subscribers have been crushing the markets with winning stock picks.
Click here now for your FREE trial to our acclaimed flagship newsletter:
Tags: Business, Eric Sprott, euro zone, Gold, GoldCore, IMF, Investing, Lehman Brothers, Markets, monetary policy, NYSE:AGQ, NYSE:GDX, NYSE:GDXJ, NYSE:GDXJ NYSE:RJI, NYSE:GLD, NYSE:PHYS, NYSE:SLV, NYSEARCA:AGQ, NYSEARCA:GDX, NYSEARCA:GDXJ, NYSEARCA:GLD, NYSEARCA:PHYS, NYSEARCA:RJI, NYSEARCA:SLV, Precious Metals, russia, Silver, Trading, venezuela
Tired of wasting time and money sifting through the noise on TV, websites, and Twitter? Get winning stock picks now.
Join Chicago Mercantile Exchange commentator Eric McWhinnie as he covers Gold & Silver for you.
Commodities are heating up. This is an investment newsletter you'll need to win in the bull market.
© & ® 2011 Wall St. Cheat Sheet
Read Full Article »