Your Money

Finding the Ideal Prepaid Credit Card

2010-07-19T13:43:28Z

Are you having troubles getting a charge card? Is the credit record too bad? Be concerned no more simply because the right prepaid card may be the answer to your issue. You will be 100% guaranteed approved. No credit check required in contrast to the standard plastic card. Without a doubt this prepaid kreditkarten ohne schufa issue is now favored all over the world.

Figure out first of all your require for what reason you need to acquire one. Whether you are getting it to handle your own finances or you do simply wish a card that can be used for purchases over the internet or maybe once you go traveling. You will discover reloadable prepaid mastercard and there are actually ones that are meant for just one occasion.

Identify all of the advantages that are offered with a pay as you go plastic card and identify which benefits could work with you and which one you can do without using it.

Jot down the service fees which are agreeable for you so you are likely to pay. Add the sum of money that you are currently agreeable to pay for such costs. You have to be more careful and check out all the expenses it will cost. Acquiring a prepaid debit card has its own plus points on the other hand all too often included with it are a variety of service fees you have to pay off.

With all these details at hand, once you are willing and able to uncover the right card that fits your needs.

Where we can get pre paid credit cards? You can get these cards in big supermarkets for instance Walmart or K-Mart. They promote it but before acquiring you verify all information and facts, its fine print when you purchase one.

You can get them over the internet too. There are a variety of web sites online which offer these cards. Type it in on any kind of search engine on the web and you'll get a summary of best offers. There you will discover a wide selection of supplier they usually will provide you with the information you must have in your case to pick the most beneficial prepaid card for you personally.

Compare all the benefits supplied with your listing and you will then certainly choose one which best fits you. Study also its review articles, no one can beat personal experience of the those who have used them. They actually can help you to make a decision the best prepaid cards to obtain.

One factor to weigh though, You can find cards that offers recommendation plan. These kinds of programs have become very popular that it right now spreads also to the world of credit cards. It could be fun to have all the benefits a prepaid card gives you and on the other hand you're able to earn bucks from their recommendation plan.

And so make it a money-earning possibility too for you personally. Moreover if you rely on a product, it's not possible to assist nevertheless talk about it to many others. Getting earnings through referring many others can be quite an excellent inducement.

Prepaid Debit Cards - Your Ticket to a Better Credit Future

2010-07-19T13:41:29Z

One of the most appealing aspects of a prepaid debit card is that in most cases, there is no credit check run on those who apply. If you're having problems getting approved for a credit card, this could be a smart solution for you. Here's the rundown on how prepaid debit cards work, and how you can use them to build a better financial future.

How they Work

A prepaid debit card works in a "pay as you go" way. Once your application gets approved, you can start loading money. To do so, you make a deposit into your account. Your limit becomes the amount that you have deposited. You can often deposit as much as $10,000. This system protects you from the dangers of overdrawing.

Once you've loaded the card, you can use it just as you would other debit and credit cards. It works in stores, on the Internet, and in any place that accepts credit and debit transactions. Instead of making payments to the account, you simply reload money onto your card.

Prepaid debit cards usually come with a number of fees. This may include a fee for registering and monthly charges. Since the amounts vary from card to card, you'll want to check carefully before sending in an application.

The Advantages

There are a number of advantages that come with a prepaid debit card. One of these is that you do not have to worry about spending more than you have. This gives you the chance to have a line of credit and not run into debt problems.

Another advantage is that prepaid debit cards are available to nearly everyone, regardless of credit score. If you have a low credit score or no credit history, you can still apply for the card. You can then use it as you would a regular card.

Building Credit

Some prepaid debit cards now offer a service in which they report your transactions to major credit bureaus. This gives others a chance to see that you are managing your account well. Over time, you'll see your credit score go up.

Even if your card does not offer this option, you can still use it toward building your credit. Start by loading reasonable amounts on to the card. Then use it on a regular basis. You'll soon learn what your limits are.

As you do this, you'll learn about the importance of carefully considering each purchase. You'll see how buying big items can affect your account. And you'll begin to evaluate your purchases before swiping the card. All of these will help you better manage your finances.

Numerous companies, including big names like Visa and MasterCard, offer prepaid debit cards. They can be a solid option if you want to have a credit or debit card. Once you start using it, you can make sure that you are paying attention to your money management. Over time, you'll be ready to take the next step when it comes to credit. And the skills you learn from using it can last a lifetime.

How to Introduce your Teen to Responsible Credit Card Management

2010-07-19T13:39:44Z

Don't expect your teenager to automatically understand credit and the ramifications of irresponsible spending and credit card management. Instead, begin teaching him or her about finances as soon as she or he is able to understand, and keep the dialogue going until your teen leaves the house.

While you have your teenager at home you can begin to teach him or her about the importance of responsible credit card use and the benefits of maintain a strong credit score:

Use online calculators to give them examples. Begin by teaching your teen about credit cards, interest rates and monthly payments. Once your teen has a clear understanding of how credit cards work, use an online debt calculator to show him or her how long it will take them to pay off a debt if they pay only the minimum amount. In addition, show them the ramifications of not paying off a debt in a short period of time and the finance charges they will incur as a result.
Consider teaching your teen the rules of credit using a prepaid debit card. Prepaid debit cards are a great way to teach your teen about finances, and about the importance of budgeting. You can purchase a prepaid debit Master Card or Visa that will work just like a credit card; however, your teen will need to budget him or herself so that they don't overspend.
Once your teen begins working, encourage him or her to open a checking account. Balancing a checking account and understanding the importance of not overspending will become very clear when it comes to managing his or her money. Once your teen has proven his or her trustworthiness with a checking account, you can give your teen permission to get a debit card that is linked to his or her account.
Once your teen has a firm grasp of credit cards and the responsibility that comes along with them, you may want to consider co-signing for a credit card, particularly if he or she plans on going away to college. A card that is in both your name and your teen's name will allow your teen to enjoy the benefits of a credit card, but will also allow you to oversee his or her spending.

Prepaid Debit Cards - A Smart Way To Rebuild Credit

2010-07-19T13:37:03Z

If you've had trouble in the past with credit, it can be very hard to find the path toward a stronger rate once again. With a prepaid debit card, however, you can enjoy many of the perks that a regular credit card offers. And you can use it to make the first steps needed to rebuild credit.

Credit Score not Important

For some prepaid debit options, your past history does not matter. Everyone that fills out the proper registration information is eligible for a card. The Mango MasterCard Prepaid Debit Card is an example of this. You don't have to have a high credit score at all in order to apply for one and - better yet - get approved for it.

When you fill out an application for a prepaid debit card, you will be asked for some information about yourself and credit. In most cases, you'll need to be 18 years or older to apply. As long as you fill out the necessary information, you can expect to get approved for the card. It will then be sent to you through the mail.

Accepted as a Credit Card

One of the benefits of having a prepaid debit card is that you'll be able to use it in places where credit cards are accepted. You can shop online with it, make hotel reservations, and even rent a car. This gives you flexibility and opens up the door for more shopping opportunities.

To use the card, you will first need to load money onto it. Say you add $400 to your account. That becomes the amount that you can spend with the card. If you make a purchase of $100, you'll have $300 left to spend. This makes it easy to avoid common mistakes such as going over the credit limit.

Teaches Financial Responsibility

The prepaid debit card plan allows you to load money, make purchases, track your expenses, and then add more money to your account. As you do this, you will learn the basics of budgeting and spending, and get a chance to improve your financial management skills. You'll know how much you have, where you spend it, and how to track where it went. All of these are the first steps needed toward building a better credit history.

Some Offer Low Fees

Some prepaid debit cards charge a number of fees, including registration and maintenance fees. While some charge for many things, others do not. The Mango MasterCard Prepaid Debit Card is one that charges some of the lowest fees in the industry.

Before you fill out an application for a prepaid debit card, think about how you will use it. If you plan to use it to help build your money managing skills, then you will be able to use it to build a foundation toward better credit. By knowing how you want to use it, you'll be much more likely to be satisfied with the card.

After filling out an application for a prepaid debit card, you'll need to wait for an email message stating that you've been approved. Once you receive the card, you can start using it right away. Simply load money onto it, and then start making smart purchases. You'll be on your way to a life of better credit.

Credit Card Use is an Option Even with Bad Credit

2010-07-03T17:24:38Z

Fixing the Bad Credit

If you have been denied a loan or turned down when you applied for a credit card, the first step is to obtain a copy of your credit report. By law, you can get a free credit report once each year from the major credit rating bureaus.

Before addressing the problem you need to understand what that problem is. If there is incorrect information on your credit report there are steps to take to remove that bad information.

You would need to contact the credit bureaus in writing to challenge the black mark on your credit file and might need to provide proof that the item listed is incorrect. The credit bureau will then contact the company or person that made the report and require them to verify their information. If the bad credit item is clearly wrong the credit bureau will remove it though it often takes several months to make the change.

If the information in your credit file is correct and clearly shows you have bad credit due to collections, late payments or other problems, you will need to find ways to rebuild your credit.

Bad credit can be overcome in time with a record of timely payment and obligations met. Unfortunately, many people with bad credit may think there is nothing they can do except pay on a cash basis going forward. This does nothing to improve their credit.

Using Pre-Paid Debt Cards

Anyone can obtain a pre-paid debit card with a Visa logo on it that will be accepted by merchants online and offline. These cards are widely available. The credit line available is not truly credit but is the amount of money you paid to the card in advance. The prepaid debit cards are useful if you make purchases online as you determine how much money is on the card and this limits identity theft and overcharging by merchants.

The prepaid debit card, however, does nothing to help your credit rating as these accounts are not reported to the credit rating agencies. There is no reason to make reports as the card can only be used to the limit of funds you deposited on that card.

If your goal is to fix your bad credit by establishing a good payment history in the future, you can apply for a secured credit card. Like the prepaid debit cards, a bad credit rating credit card requires payment in advance but that is where the similarity ends.

Orchard Bank provides one of the best secured credit cards and almost anyone can obtain this card. The credit line will depend on the amount of money you pay up front. Those funds are deposited in a savings account that is used to guarantee the credit line. Your credit line will often be a percentage of the amount you deposit rather than the full cash amount.

The bad credit credit cards carry a lower spending limit than standard credit accounts but the best lenders report monthly to the credit bureaus. If you obtain a secured credit card you might provide $500 to secure the account. That credit card may then have a spending limit of $300-400. The $500 you paid remains in an interest bearing savings account and will be used only if you fail to meet your payment obligations when using that credit account.

There are fees associated with these accounts such as fees to open the account, to manage the account, annual fees, etc. These fees are the price consumers pay when they need to rebuild a damage credit file. To overcome a bad credit rating, credit card use is essential and secured credit account is the place to start correcting a bad payment record.

Bank Account Or Credit Card

2010-07-03T17:22:55Z

If you sell things on the auction web site eBay, Paypal is an essential component of your auctions. Buyers can easily pay for their winning bids in a quick and easy way. And as a seller, you're guaranteed that the money you receive isn't part of some complicated online scam.

But there disadvantages to Paypal. Particularly if you're opening up a new account.

Paypal advertises that you can open a new account without a checking account or credit card. Technically, that is the case. But you will very quickly run into some serious limitations when it's time to withdraw your money.

There are several ways to withdraw money from Paypal. You can request the company mail you a check (which takes as long as two weeks to arrive). You can transfer money into a checking account. Or apply for a Mastercard debit card which is tied to your Paypal account.

If you don't provide valid checking account info, you're limited to withdrawing your money with a check. Even more inconvenient, unless you tie your Paypal account to a credit or debit card, you are limited to withdrawing and/or spending $500 per month.

There are a few reasons why you might not want to give Paypal checking account or credit card information. You might be one of the 20 percent or so of Americans who don't have a checking account. Perhaps you just worry about your privacy. Or you might have heard those horror stories from people who had a dispute with Paypal after the company unexpectedly withdrew money from their checking account.

But regardless of your reason, if you're looking for another option, I have a couple of suggestions.

The easiest way around Paypal's restrictions is to sign up for a pre-paid debit card that offers an option for you to make direct deposit payments into the account. Cards that offer that option include a bank name, routing and checking account number as part of their service. Even though it's not truly a checking account, it is enough info to keep Paypal happy. Even more convenient, you're are then able to transfer money directly from Paypal to your debit card. You can also use the new debit card number to satisfy Paypal's credit or debit card requirement. That will give you nearly unlimited access to your Paypal earnings.

There are a number of prepaid debit cards that would work for you. I am most familiar with CashPass and Mango. Both offer the routing and checking account info. And I have used both in the past with absolutely no problems.

One caveat is that both services do charge a fee. You have a couple of choices (a monthly fee vs a percentage of the transaction). But for most users, the charge is minimal and it's worth it to have easy access to your Paypal funds

How about financial services that help, not exploit, the broke?

2010-07-03T17:18:10Z

I am midway through reading Gary Rivlin's new book, Broke, USA. As CNN Money contributor Dan Okrent puts it in his review, Rivlin's book is about the industry of "vulture finance." It exposes large and small financial services companies that prey on financially vulnerable people because they can and because they find it lucrative.

So I was understandably skeptical when I flew out to Miami a few weeks ago to attend the Underbanked Forum, a conference organized by the Center for Financial Services Innovation.

Was I about to jump into a pool infested with loan sharks?

The conference turned out to be quite good. Several presentations and topics were true eye-openers. Here's the bottom line: for the broke, there's still hope for fair financial services that support flexible modern life and encourage financial responsibility.

Not just the fringes of the economy
Who cares? A lot of people should. The FDIC puts the number of under-banked and un-banked households - i.e. people who can't access the kind of credit and banking services that support mainstream life in the U.S. -- at about 30 percent in its December 2009 survey.

Add in younger people who are just starting to build their financial lives but have a world-weary cynicism of big banks. Also add more experienced adults who've been wronged by their banks lately, and there's a potential pool of 100 million people who demand better financial services.

With numbers like that, it's not surprising that a segment of the financial services industry is mobilizing to do a better job of being inclusive, understanding and creative about addressing customers needs without gouging them at every turn.

Too much downside, not enough upside
At the conference, design firm Ideo and non-for-profit D2D Fund reported on their analysis of people banking and non-banking behaviors.

Most striking among their findings: the upside of having a bank account often is perceived as being less than the downside of hidden fees and other practices that filch money. What's the point of hoping to earn roughly one percent interest on a few hundred dollars in your savings account while taking the risk of being hit with a $29 overdraft fee on your checking account?

Speakers highlighted two emerging alternatives to traditional savings accounts that offer a bigger potential upside for people who are starting from scratch:

Starter savings accounts offered at an eye-popping five percent interest rate from established players such as US Bank and start-ups such as Mango Money.
A "Save to Win" pilot conducted at a Michigan credit union offered prize drawings, including a grand prize of150,000, for people who saved.

According to the speakers, financial service providers tend to fund these programs out of marketing budgets rather than operational profits. It makes all kinds of sense to channel money directly into the pockets of first-time customers from the TV ad budget spent hawking big banks during Wheel of Fortune.

A nicer kind of access
Rivlin's book says that check-cashing and payday lending outlets have expanded so much in the past few years that they now outnumber McDonald's and Burger Kings combined.

In spite of the poverty industry's survival skills, as mentioned in a recent post by Rivlin, I believe that this trend will start reversing, fortunately.

Here's why. First, a very large percentage of the under-banked are connected and using the Internet several times a week. (Migrant workers not born in the US are the exception.) So creative minds can rapidly deploy new financial services at the very low costs made possible by not having to deploy physical outlets.

Second, the government will mandate that federal benefits be distributed electronically by 2013, avoiding the need for recipients to cash paper checks at a significant cost.

And even in the brick-and-mortar world, companies such as Mango Money are piloting new kinds of stores that are a lot more welcoming than check cashing parlors and less intimidating than bank branches.

Innovation, innovation, innovation
It's the word I heard the most often at the conference. There were plenty of sessions showcasing new ideads in credit, savings and payments. While Twitter's co-founder Jack Dorsey displayed showmanship with the "Square" credit card reader for iPhones and iPads, my pick for most intriguing initiative goes to GoalMine, a company intent on selling investments off of j-hooks at your nearest convenience store. When GoalMine deploys its service, people will be able to buy $50 worth of investment in a mutual fund as easily as they pick a $50 gift card today.

Overall, the good news is that there are many of us who care about serving the un-banked, under-banked and ill-banked. While I did not hear the word "affordability" very often, competitive spirits seemed to be high and will bring more just pricing quickly.

How to Send Money Online to Mexico

2010-06-29T17:56:56Z

Should the need ever happen; there are multiple ways to send money to Mexico, each with its own set of standards that rules how the money is sent. Service cost, safety and security levels as well as the amount of time it takes for cash to be wired and received can vary.

On occasion though, time becomes a important matter, needing the cash to arrive in a rather expedient time frame. When a emergency arises and time becomes the utmost important aspect in finishing a wire money transfer, it is especially important to know what options might work best for you and your position.

The most crucial thing to consider in a hasty situation of this kind is that there is no need for alarm or fear. There are several methods available to you that will get the job done rapidly and simply.

If you are in an opposite reverse, where time is not a issue, preparing before the need arises, is always a good idea. For example, if you have a son or daughter that will be spending time in Mexico, it would be a great idea to have framework in place so that a money transfer can be made with quite short notice, if at all necessary.

The ATM card is a wonderful choice for this sort of situation or for this kind of traveler. For some, you can trust the recipient enough to have a non-denominational card assigned to their name, which is then connected to your savings or checking account.

As long as they have the card in their ownership and the relating PIN number, they will be able to access the money through any ATM machine, as often as necessary. If you choose the later of the two previously discussed options, remember that the cardholder will have access to your account at all times (and they may not wait for an occasion that you would consider a crisis situation, to access funds).

The reality is that in many cases, we in fact, do not want the card recipient to have total and unmonitored access to the funds in our account(s). Because of this fact, a preloaded debit card is the ideal solution.

A preloaded debit card is a card is just like any other typical debit card except for the fact that it is preloaded with a specific amount of funds, thus, providing a definite limit. Once all the money has used, the cardholder no longer has access to any more funds, unless the sender refills the prepaid debit card with more funds.

With either option that you choose, opening an account with a bank that has branches both in Mexico and in the US will help to make a transfer between accounts trouble-free. Taking a safeguard of this kind, along with everything else formerly discussed, will ensure a safe and timely transaction.

PRECIOUS-Gold flat to firmer after Fed's low-rate vow

2010-06-24T13:55:59Z

TOKYO, June 24 (Reuters) - Gold was flat to slightly firmer
on Thursday as the Federal Reserve's vow to keep interest rates
low and uncertainty over the global economy underpinned investor
appetite.

 On Wednesday, weak U.S. housing data helped send gold to a
low below $1,230 an ounce, but its recovery since then on
bargain-hunting eased bearish views that gold cannot be an
exception when a sell-off hits other commodities and stocks.

 Spot gold XAU= was at $1,235.20 an ounce at 0237 GMT,
unchanged from the notional New York close, and hovering well
below Monday's record around $1,264.

 "Gold looks resilient to downside risk because vague fears
are still hanging over markets. Visibility is low in terms of the
euro and the economy," said Tetsu Emori, general manager at
Tokyo-based fund manager Astmax Co.

 Technically, gold is expected to revisit Wednesday's session
low of $1,224.30, its lowest in more than a week, as a pullback
towards the trend line could have completed. [ID:nSGE65N00V]

 The low was hit after a report showed sales of new U.S. homes
dropped a record 32.7 percent in May to the weakest level in at
least four decades.

Most humans adopt to use acclaim cards than debit cards. In fact, cards generally accept a bad acceptability because of their upfront accuse and fees. But are there assertive advantages that alone prepaid debit cards provide?

2010-06-24T13:54:23Z

Most humans adopt to use acclaim cards than debit cards. In fact, cards generally accept a bad acceptability because of their upfront accuse and fees. But are there assertive advantages that alone prepaid debit cards provide? In this article, let's accede advantages that prepaid cards bring:

1. Absorb alone the money that you have. If you accomplish a acquirement and allegation it to your acclaim card, technically, you borrow the acquirement you fabricated and pay it aback at a after time. If you use a prepaid debit card, you alone get to absorb the money you already accept in your account. If you don't accept acceptable funds in your account, again acutely you can't accomplish added purchases.

2. You're spending is bound to alone what you can afford. It is simple to overspend if arcade with a acclaim card. Back you can allegation as abundant as you wish on a acclaim card, you accident traveling over your annual if you're not careful. A prepaid debit agenda doesn't accord you this option. With a card, you can alone allegation the bulk that you accept in your account. Spending added than what you accept is carefully not possible.

3. A acceptable apparatus for baby business entrepreneurs. If you're a baby business buyer or a home based entrepreneur, you can use a debit agenda in paying your freelance workers or sending payments to your suppliers. Are your freelance workers alive alfresco of your State or from addition country? It doesn't absolutely matter. You can use your agenda for sending money anywhere in the world.

4. Prepaid debit cards are acceptable for appointment money. Aside from business owners, parents too can acquisition debit cards absolutely advantageous if appointment funds to their kids who are in boarding schools. Debit cards accommodate common casework so you can forward money to anyone wherever you are in the world. This is a cheaper way to forward and accept banknote compared to bartering money alteration services.

5. Company owners can use prepaid agenda in paying employees. Sending agent salaries via prepaid cards are not alone acceptable it is aswell a safer way of managing your company's payroll. This is advantageous for advisers as able-bodied back they can accept to abjure their accomplishment at their a lot of acceptable time.

6. Debit cards are advantageous accoutrement for those with no coffer accounts. You don't charge to accessible a coffer annual to use the casework of a debit card. If you wish to do your arcade after the charge to accompany cash, you can use a debit agenda instead.

7. Prepaid debit cards are easier to account than acclaim cards. Acclaim agenda companies appoint added requirements for acclaim agenda applicants. On the contrary, anyone can administer for a prepaid debit agenda and get an approval. In fact, humans with bad acclaim or low acclaim array can administer for a debit agenda to advance their acclaim status. Once their acclaim is improved, they can account of acclaim cards with bigger ante after accepting beneath or refused.

Canadian stocks close up; TSX shies away from 12,000

2010-06-21T17:51:48Z

The S&P/TSX Composite Index (THE:CA:$ISPTX) closed up 17 points, or 0.1%, to 11,962 after flirting with the 12,000 mark midday.

Gold prices hit a closing and intraday record Friday. Canada's largest gold companies -- Barrick Gold Corp. (THE:CA:ABX) and Goldcorp Inc. (THE:CA:G) -- made substantial strides, closing up 2.8% and 1.5%, respectively.

Gold for August delivery rose $9.60, or 0.8%, to settle at $1,258.30 an ounce. Gold, which is up 15% for this year, has been on a winning streak for nine weeks as more investors snuggle up to the safe-haven asset on economic uncertainties, particularly in Europe. Read more about gold futures.

Canada's most heavily-traded index of the day -- The S&P/TSX Capped Financials index (THE:CA:TTFS) -- was up 0.3% and traded well above average daily volume. Power Corp. (THE:CA:POW) was up 1.4% as Canadian Western Bank (THE:CA:CWB) fell 0.1%

And as crude-oil futures added 39 cents to settle at $78.01 a barrel, the S&P/TSX Capped Energy Trust (THE:CA:TTEN) bumped up 0.2%, led by Trinidad Drilling (THE:CA:TDG) .

The S&P/TSX Capped Diversified Metals index (THE:CA:TTMN) closed flat, with Major Drilling Group (THE:CA:MDI) as the top advancer and Equinox Minerals (THE:CA:EQN) as the main decliner.

Gold soars to fresh closing record

2010-06-21T17:49:55Z

SAN FRANCISCO (MarketWatch) -- Gold futures climbed to a closing record high on Friday as more investors jumped into bullion's bandwagon, eager to chase better returns and wary of riskier bets such as stocks.

Gold for August delivery rose $9.60, or 0.8%, to settle at $1,258.30, surpassing Thursday's record close of $1,248.70 an ounce.

"People are tired of their 0% T-bills, afraid of the stock market and afraid of the double-dip recession," said James Cordier, a portfolio manager at OptionSellers.com in Tampa, Fla. "People are pouring into gold even at this high level."

The Swiss franc has swept up to yet another record high against the euro after the country's central bank stepped back from its policy of seeking to hold the franc down.

The contract hit a record intraday high of $1,263.70 an ounce in electronic trading, according to the CME, which owns Comex.

On Thursday, the August contract gained 1.5% to the record settlement, which supplanted another high-mark closing achieved only last week, on June 8.

Gold has gained 2.3% on the week, notching its fourth straight week of gains.

So far this month, prices are 3.6% higher and on track to post its third straight month of gains following May's 2.9% and April's 5.9% advances, according to FactSet Research.

The June 8 record was met with some profit-taking, but the latest closing record was met with even more buying.

Investors who waited for a pullback that never came jumped in, afraid to miss gold's run, even if it means buying at the peak, said Adam Klopfenstein, a senior market strategist at Lind-Waldock in Chicago.

"There's big money that wants to own gold," he commented. No one feels economic problems across the Atlantic and in the United States are really solved, Klopfenstein added, and are afraid of more credit concerns that "will show themselves in the future."

Frank Lesh, a broker and futures analyst with FuturePath Trading in Chicago, said he's confident gold will keep breaking new ground in the near future, perhaps achieving $1,300 as early as July.

"This has been a steady gain" on a sustainable pace, he noted, and many investors hold long positions in gold, or bets prices are going to go up.

People are looking for investments where they can make money, perhaps not a lot of money, "but at least not lose money," according to Lesh. "At the present time, gold fits the bill."

Stocks opened modestly higher on Friday, seesawed in early session but found a firmer footing later in the day. 77398

The dollar index (BOARD:DXY) , which compares the U.S. unit against a basket of six currencies, was flat at 85.69.

As an indication of rising investor interest in gold, holdings at SPDR Gold Trust (CONSOLIDATED:GLD) rose to a fresh record on Thursday, the latest day for which statistics are available.

The fund, the largest exchange-traded fund backed by gold, reported holdings of 1,307.96 metric tons of gold (1,441.77 short tons).

Oil and other commodities such as copper were trading lower on Friday. Most metals, however, tracked gold's rise.

Silver for July delivery added 41 cents, or 2.2%, to $19.18 an ounce, the highest close since mid-May.

July platinum added $15, or 1%, to $1,587 an ounce. Copper for July delivery was down 2 cents, or 0.7%, to $2.88 a pound.

Gold Goes For Fresh Highs

2010-06-21T17:46:07Z

On Friday morning, spot gold prices traded as high as $1,260 per ounce as investors look for safety in the precious metal.

Most of this morning's gains can be attributed to gold buying as the U.S. dollar is trading close to even against other major currencies. Over the last two and a half months, gold prices have advanced more than 10%, while major gold miners have topped those gains, even as the general markets have faltered. Goldcorp has advanced more than 16%, Barrick Gold has picked up a little more than 14%, Newmont Mining has gained more than 13% and AngloGold Ashanti has added 13% as well.

Does gold know something that gold shares don't?

2010-06-17T15:45:13Z

NEW YORK (MarketWatch) -- Gold jumps as stocks slump. Gold bugs are increasingly confident -- even though gold shares continue oddly weak.

The yellow metal bounced off the ropes ferociously on Friday. After two weak days, the metal slipped below $1,200 spot as New York was opening. Then, as it became clear how ghastly the day was going to be in the financial markets generally, a powerful $20+ rally set in.

From a relative strength point of view, this was a spectacular performance. Everything else was down horrifically, except U.S. Treasurys, and the U.S. dollar -- usually gold's adversary.

Gold in other currencies did even better. In fact, gold in euros closed at a record high. This will greatly delight The Gartman Letter, which can claim to have pioneered trading gold in this way, and which was expanding its positions this week.

Can gold really be a safe haven at present? Dow Theory Letters' Richard Russell answers emphatically yes -- in fact, his anti-stock market and pro-gold advocacy this week is the most strident I can remember.

And Friday repaired a lot of technical damage. At veteran gold observer Jim Sinclair's JSMineset site, correspondent "Trader Dan" said in his daily analysis:

"Gold rebounded sharply ...through the 10-day and 20-day moving average and...above all the moving averages once again.

"Price action indicates the presence of strong buying support on dips with the usual suspects active on the rally...this price action is giving the physical market buyers time to become acclimated to the new and higher price level above $1200."

This conforms to the position taken at Bill Murphy's LeMetropoleCafe webzine, which among many other things watches Eastern gold prices as measure of physical market vitality. A piece posted on Friday was laconically entitled "India buys," and also noted that Vietnam, an interesting newly-significant gold market, appeared to have moved to the buy side as well. Stories about strong gold buying by European Central Bank-despising Germans have been appearing here and elsewhere for several days.

All of this gives resonance to the remarks of another Old Gold Hand, Harry Schultz, in his GCRU service on Wednesday morning:

"Bullion's capacity to shrug off the shackles of intervention at this crucial chart point ...invites a near term re-test of the May 2010 high -- with a possible overshoot towards the $1345.00 measured target ... and $1425.00 theoretical upside target. On the downside, a sustained break below bullion's March uptrend line (now $1178.50) would be necessary to destabilize what appears to be the energetic resumption of gold's primary uptrend."

An Ugly Feature/Big Problem (?) marring this happy scene: the wretched performance of gold shares. The NYSE Arca Gold Bugs (NYSE:HUI) and the Gold & Silver Index (NASDAQ:XAU) both finished the week down. A correspondent on LeMetropoleCafe notes sourly that heavy losses on Friday happened in the afternoon only -- exonerating the general stock market as a possible cause, because it was plunging all day.

No one seems to understand gold shares' malaise. Unlike gold, they have yet to approach, let alone exceed, their last December highs. Some blame the rise of the gold ETFs like SPDR Gold Trust ETF (CONSOLIDATED:GLD) which expanded its bullion holdings to a record this week) and the closed end Gold Funds like Central Fund of Canada Limited (CONSOLIDATED:CEF) and Sprott Physical Gold Trust (CONSOLIDATED:PHYS) . But these are not leveraged to gold, which has been the gold shares' traditional appeal.

Could gold shares just be the last train to leave the station?

SAN FRANCISCO (MarketWatch) -- Gold futures on Monday rose nearly 2% to end just a couple of dollars short of their May 12 record amid lingering concerns about the health of the world economy. Gold for August delivery, the most active contract, rose $23.1

2010-06-17T15:39:22Z

SAN FRANCISCO (MarketWatch) -- Gold futures on Monday rose nearly 2% to end just a couple of dollars short of their May 12 record amid lingering concerns about the health of the world economy. Gold for August delivery, the most active contract, rose $23.10, or 1.9%, to settle at $1,240.80 an ounce. Silver for July delivery tracked gold to settle 5% up at $18.16 an ounce.