HomeОбразованиеRelated VideosMore From: mpsecurities

Gold Market Outlook December 2008

1 ratings | 570 views
Barry Dawes, Managing Director of Martin Place Securities, talks about the outlook for Gold, investing and the resources sector. As we move into 2009, we have to reflect on a turbulent 2008, which took commodity prices up to some very high levels, Gold well over $1000, oils prices 147; Performances of the big stocks were very good, we saw BHP at $50 in June, and that was against a back drop of a US equity market which was quite weak, with a number of sell offs staring in January and following through all the way through the year and seeing that index basically in the states falling by 50% The third quarter and fourth quarter in Australia for resource stocks and in the commodities sector was just diabolical. It fell a lot more than 50% and a lot of stocks would have fallen as much as 75%, even 80 or 90% for some smaller stocks with a low level of liquidity. But since that period, since the lows that we saw in late November, weve seen the US indices steady. Weve seen commodity prices bottom out, sort of, and weve certainly seen a strong Gold price, with gold rising over $900 an ounce again. All these things are suggesting to us that there probably is a bottom coming in the stock market. Now the news that you see on your TV every night, and in newspapers every day is certainly still very, very negative, problems everywhere around the world and one would think that that would be sufficient to undermine confidence in the equity markets but performance of the equity markets over the last 2 ... 2 and a half months certainly suggest that maybe a lot of that has already been discounted. Risks are still there and no one really knows where its going, but we can only follow what the markets are telling us.... More information can be found on our website: www.mpsecurities.com.au
Html code for embedding videos on your blog
Text Comments (0)

Would you like to comment?

Join YouTube for a free account, or sign in if you are already a member.