ProShares Ultra Gold (UGL)

I believe this is a 1X ETF.

Up 1.8% today. Sluggish.

Seems like something is out of balance here?

Gold vs national debt

finviz

this show what is going to happen in Feb...

Gonna fill some gap when debt ceiling raised.

Gold vs US debt

Now that Obamacare seems to be going to happen.... US Debt should increase and gold too.

Gold at three-month high on stimulus hints, dollar
Aug. 21, 2012, 3:30 p.m. EDT



Metal settles at highest level since early May


By Claudia Assis and Sara Sjolin, MarketWatch

SAN FRANCISCO (MarketWatch) — Gold futures on Tuesday rose to their highest level in more than three months, after China hinted at fresh economic stimulus and investors were more optimistic about the euro zone, which resulted in a weaker dollar.



Reuters

Gold for December delivery (CNS:GCZ2) advanced $19.90, or 1.2%, to $1,642.90 an ounce on the Comex division of the New York Mercantile Exchange.

That was the highest settlement for a most-active gold contract since May 4.

Gold faced some resistance around $1,630 an ounce, “but once it moved past that, it just shot up,” said Howard Wen, a commodities research associate with HSBC.

Gains for the euro as well as for platinum and palladium in the wake of violence at a South African platinum mine also boosted gold, he added.

Investors also digested a report in the Chinese state-run Xinhua news agency’s Economic Information Daily that Beijing is planning fresh stimulus measures for the second half of the year. See: China stocks rise after reported stimulus plans.

The ICE dollar index (NYE:DXY) , which measures the greenback against a basket of six other currencies, fell to 81.888 from 82.475 in late North American trade in the prior session.


Dollar-denominated commodities tend to rise on a weaker dollar, as they get cheaper for holders of other currencies.

The euro rallied Tuesday on growing optimism that Europe’s monetary authorities will take steps to reduce borrowing costs for countries such as Spain and Italy. Read more about currencies.

Gold exchange-traded funds also garnered interest, with the largest ETF backed by gold, SPDR Gold Trust (NAR:GLD) , recently registering its largest one-day inflow since mid November, according to Commerzbank.

The ETF jumped to nearly 1,275 metric tons on Friday, from nearly 1,264 on Thursday. It held steady on Monday, the last day for which statistics are available.

Elsewhere in the metals complex, platinum for October delivery (NYMEX:PLV2) ended up $9.60, or 0.6%, to $1,507.80 an ounce. That was platinum’s highest level since May, and the metal extended gains amid recent violence at a platinum mine in South Africa.

September silver futures (CNS:SIU2) rose 84 cents, or 2.9%, to end at $29.43 an ounce. September copper futures (CNS:HGU2) moved 8 cents higher, or 2.4%, to $3.45 a pound.

Palladium for September delivery (NMN:PAU2) gained $16.50, or 2.7%, to $624.20 an ounce. That was the highest settlement for palladium since mid-June

Bought some more on Friday with the dip! This could pay out well in 3 months...

nice pop today!

I don't know. I'd think with all of the poor investor sentiment right now, gold would be up. I bought a few shares at 77.65. Waiting for $100 again!

maybe a bull now?

Where gold could be headed...
http://seekingalpha.com/article/470211-has-the-secular-gold-bull-market-ended?source=yahoo

Hummm...??

You're right Sir, everyone is on their seats right now hah.. things haven't quite ever been like this imo. Crazy times we're living in! GO USA, GO EUROPE, GO ASIA! (don't forget the Aussies/kiwis/south pacific lovin too! :)

Stocks are down today sharply and gold is down. The inverse relationship isn't true anymore. :/

$100 in sight. I like these odds. Things are possibly gearing up for a nice downtrend on wall street in the next weeks to come. Stay tuned!

Finally back to green on this, go gold!

UGL should do well tomorrow imo, but yes there's not an extreme amount that GOLD is good for. Very little is needed in Electronics and space exploration. But it does make for a good pump. :P Cheers

I kinda agree with adeezl that it mostly sits around doing nothing but look pretty.



Jewelry is an important part of life. It show status or class, gets you sexual intercourse, and aesthetically pleasing to look at. SOmething in our brains love jewelry.

Bling!

Yep, Cramer just pumped it tonight.

http://www.cnbc.com/id/44722658

I agree, twas only kidding mate! :) My previous messages indicate how I feel about gold. It shall be around for years to come. GO UGL!

We all know gold will rise in the end no matter what, it's used extensively in space exploration. Something we will require in mass quantity for future usage. I've got this in the family will be holding for time to come. Cheers!

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=67289243

Gold is a necessary part of electronic components, even used as a non-organic lubricant in spacecraft. Also has medical uses in cancer treatment. It has a lot more uses than just looking pretty and those uses have gone up over time, not down.
http://geology.com/minerals/gold/uses-of-gold.shtml

Yes sir, no doubts. Until people start realizing that gold doesn't really do much for society but shine and look pretty, they'll keep buying! GO UGL!

I still hear the pumping of gold on the radio everyday. They say this is just a temp drop.

Can't win them all :P My family owns this not I in particular. I think gold will pump again here soon enough. I'm in no hurry for it. I'm all tech this year! Cheers

Yes sir, Gold down big-time this AM, I think today will be rather interesting after yesterday's string of news from the FED

I think this sell off is because the whole market is off. People are in fear of second recession coming.

In 2008, Gold crashed too when whole market crashed.

Not sure why folks would want to sell, no end to this market flux in site. It went up from around $25 to kiss $120 in a little over 2 yrs, so I expect the profit taking etc over $100 mental support.

We all know gold will rise in the end no matter what, it's used extensively in space exploration. Something we will require in mass quantity for future usage. I've got this in the family will be holding for time to come. Cheers!

Do you think this could be profit taking?

I have to admit I wasn't expecting gold to dump so much on so little economic news. USA has a long way to go here will take years to get out of Bush's hole.

Whomever is dumping this is CRAZY! All points to $125+ by end of Sept in my book. Goodluck!

Yup UGL running hard since AUGUST started, love it! Got UGL in the family since June 20th 2009 yo!

I guess I was right.

I'm thinking once the Fed budget stuff gets settled we see gold dip a bit.

pretty quiet over here. Gold doing good so is Ultra Gold.

Gold up 1.18% but UGL up 2.whatever8% more than twice as good!

2 years = 2 bagger

1 year = half bagger

nice run for gold...

billy fine relative to the 2x gold ETFs but I was rather hoping the spending by the morons in Congress would cease and the dollar could actually stabilize/ strengthen. Too much to hope for with all that "change", looks like that is all the dollar will be worth at this rate, a small amount of change.

Up 22% since Feb.. so not too bad.

How's that working out for ya?

giff I guess there is not much worry anytime soon about the dollar getting strong, more likely it will loose its credit rating, imo

This is what has happened...
giff if the dollar gets strong then gold weakens

giff if the dollar gets strong then gold weakens that I understand it is an inverse relationship. I just do not understand why the USD got stronger in light of what is being discussed, unless some think the President's budget is DOA and hugeeee cuts will get made (which I seriously doubt).

No idea why it is doing what it is.


Hope all is well!

If you think Dollar will drop... then see this one UDN #board-15157

same thing... Wonder why it went down today? The dollar got stronger!

Giff it sure did not look like it today did it? Go figure, the USD should drop dramatically if the credit rating of AAA for the USA is reduced do to debt and if that happens Gold should rocket imo, but then I thought that news today would boost gold not allow it to sink 8% so who knows.

hey trade... thinking gold is going way up?