Further weakness was manifest in the precious metals’ complex overnight and early this morning as the US dollar was seen approaching the 76 level on the trade-weighted index amid continuing (and aggravating) troubles related to Greece and its debt.
A collapse in that country’s government bonds pushed their yields to 30.26% and there was quite a bit of "contagion" on display in other European bond yields and in the premiums for insuring against defaults (Spain, Portugal and Ireland all caught the Greek flu in that sense) in the wake of the worsening situation in Athens. [...]
US gold and silver prices were nearly unchanged Wednesday. The two metals held firm despite a surging dollar and plunging crude oil prices.
Greek bailout issues lifted safe-haven buying, opined analysts, as the euro fell against the dollar. Higher than expected US inflation data was also somewhat supportive for gold and silver prices.
August gold prices rose $1.80, or 0.1 percent, to $1,526.20 an ounce on the Comex in New York [...]
The US dollar picked up a significant amount of steam on Wednesday and its rise helped push precious metals values back down following their tepid attempt at a gain recorded on Tuesday.
The main impetus for the greenback’s gains came from the on-going European dawdling on the issue of how to tackle the pesky Greek debt situation. The additional upward driver of the dollar was the lack of notable change being recorded in US inflation levels in the month of May [...]
The United States Mint reported brisk sales of its newly released Yosemite National Park Five Ounce Silver Uncirculated Coin. Between its launch on Thursday and Sunday, orders reached 20,511. At their $279.95 price, that equates to just over $5.74 million in sales during their first four days.
An impressive tally, but it is slightly lower than starting sales of the first two issues from the Mint’s America the Beautiful Five Ounce Silver Uncirculated Coin Series. The Hot Springs and the Yellowstone uncirculated coins each reached about 19,000 on their opening day [...]
U.S. gold and silver prices rebounded Tuesday, recovering a portion of their previous session losses. A weaker U.S. dollar, inflation sentiment, higher oil prices, and bargain hunting were among the factors analysts cited for gains.
August gold prices added $8.80, or 0.6 percent, to close at $1,524.40 an ounce on the Comex in New York. Gold traded between $1,512.80 and $1,524.90 [...]
The United States Mint this week announced the final designs, price and release date for the 2011 September 11 National Medals. The medals which commemorate the 10th anniversary of the September 11, 2001 terrorist attacks will go on sale Monday, June 20, for an introductory price of $56.95.
The Mint will begin selling the September 11 National Medals at 12:00 noon ET through its website and call center number 1-800-USA-MINT (872-6468). There will be no household order limits in place, and buyers may choose from medals produced at the United States Mint facility in West Point or Philadelphia [...]
The Bureau of Engraving and Printing (BEP) on Monday released the second of three intaglio print cards celebrating the life and accomplishments of Benjamin Franklin.
The BEP’s 2011 Intaglio Print Program is entitled the "Franklin Commemorative Series." The series, according to the bureau, features "exquisite compilation of unique engraved vignettes focusing on the age-old art of intaglio printing." [...]
U.S. gold prices retreated nearly 1 percent and to a three-week low Monday, pressured by falling oil prices and technically related selling.
August gold prices declined $13.60 to $1,515.60 an ounce on the Comex in New York. The level was gold’s lowest since May 23. Gold prices ranged from an intraday low of $1,511.40 to a high of $1,533.90. They are up 6.6 percent this year [...]
The United States Mint began selling bags and rolls of the 2011 Olympic National Park Quarter at noon Eastern Time today, June 13, 2011. The reverse design on the quarters honor the national park located in the state of Washington.
The Olympic park quarter is the third of five releases this year, bringing the total of coins issued within the America the Beautiful Quarters Program to eight since it kicked-off last year. A total of fifty-six quarters at a rate of five per year will launch until the last one is made available in 2021 [...]
A further decline in crude oil prices conspired to drag most of the commodities’ complex to lower value ground as the new trading week commenced. Thus, precious metals lost chart altitude levels as well, despite the minor, 0.15 loss recorded in the US dollar index this morning.
Part of the early selling pressure was related to investors’ raising cash to cover margin calls incurred in the wake of the sixth consecutive losing session in the equity markets on Friday. However, at the end of the day (or, shall we say, the beginning thereof) reports that China’s economy is slowing (and perhaps more than just a tad) coupled with [...]
