Monthly Archives: August 2011
In The Lead – BOWLing Green in Gold Alley
Tuesday's market trading sessions in New York opened under growing selling pressure in the entire precious metals complex. Following a fresh sprint to new overnight highs (very near a first Fibonacci extension level at $1915) and amid 98% bullishness levels (seen on both Friday and on Monday) gold retreated to as low a level as $1,862.00 this morning.
But, hey, $55 of a move in the span of a few short hours is like... so "normal" in the latest scheme of things. The very thing that gold is supposed to mitigate against to a certain extent (volatility) is the attribute it has taken on of late [...]
Fuljenz Interviewed, Honored at World’s Fair of Money
As gold prices soared, national news media obtained expert commentary and advice for investors from Michael Fuljenz, President of Universal Coin & Bullion (www.universalcoin.com) of Beaumont, Texas, during the Chicago World's Fair of Money(SM), August 16 – 20, 2011.
He was interviewed by Fox Business Network and ABCNews.com about the huge demand for gold bullion and gold coins, and how the public can avoid scams when buying or selling precious metals [...]
US Mint Halts Gold Coin Sales Again, Prices Poised for Increases
The United States Mint on Monday halted sales of its collector gold coins for an extended period after gold prices soared toward $1,900 an ounce. The suspensions are expected to last until Wednesday when coin prices are poised for increases. 15 of the Mint's gold coin products are now off sale.
The action, as conveyed in a previous article published on Friday, was not completely unexpected based on gold's explosive jump -- the yellow metal in New York has surged nearly $150 in six days [...]
Gold Extends Rally Toward $1,900, Silver Prices Touch $44
U.S. gold futures surged toward $1,900 an ounce Monday, registering a fifth straight record high and a string of six session wins in which prices have surged $149.30, or 8.6 percent.
"Investors' concerns about the validity and efficacy of the U.S. debt deal, uncertainty about further deficit reduction suggestions ... continued dollar weakness and the worsening of the European debt crisis all appear to have helped push gold even higher," said analysts at Wells Fargo in a research note. "While gold appears to be getting a bit frothy, its ascent is justified by the fundamentals."
December gold prices rallied $39.70, or 2.1 percent, to close at the record high of [...]
Stack’s Bowers and Ponterio To Offer 2,700+ Lots of Chinese and...
Stack's Bowers and Ponterio will present an exceptional selection of more than 2,700 lots of Chinese and East Asian coins and banknotes at The Mira Hong Kong, August 22-24, 2011, HKT.
The three-day auction event will spotlight a multitude of collections and highlights including:
- The Chin Family Collection,
- The H.T. Nance Collection,
- The Frank Robinson Collection, and the
- Wa She Wong Collection, Part II.
Interested bidders are invited to join the live auction at The Mira in Kowloon, Hong Kong, or to bid online at www.stacksbowers.com [...]
In The Lead – Papa Was A Ruling Throne
None of the above stopped bullion speculators from pushing the yellow metal to a fresh overnight record price of $1,896 in Asian trading. Monday's action in New York got off to a positive start in the entire metals' complex once again, on the heels of last week's string of daily gains in gold. Spot dealings had the bid side quoted at $1,867.00 per ounce in gold; nearly $30 under the overnight peak, but still showing resilience and the adrenaline boost it is carrying courtesy of the spec crowd...
Silver started Monday's session with a gain of 34 cents, at the $43.24 per ounce bid mark. The CFTC positioning data shows a hefty decline in silver speculative shorts and a concurrent rise in longs [...]
Gold Prices Soar 6.3% on Week and Top $1880, Silver Jumps...
U.S. gold futures jumped to a record above $1,800 an ounce Friday, extending its streak of record settlements to four sessions, its string of wins to five days and its successive weekly gains to seven.
Gold prices surged 6.3 percent this week, supported by global economic fears which pounded stocks and drove investors toward safe-haven buys like gold [...]
US Mint Suspends Silver Sets, Raises Gold Collector Coin Prices
The near ballistic rise in gold has resulted in another series of United States Mint price increases for its gold collector coins. On Wednesday, the Mint pulled the trigger on the latest round of hikes -- the fourth in five weeks. Coin prices since July have been raised on a per coin basis from as little as $25 to as high as $462.50. On Friday, the Mint suspended two of its older silver sets as silver topped $42 an ounce.
Current gold prices should hold until Wednesday morning, although with gold soaring to successive all-time record highs -- at $1,850.40 an ounce as of this writing -- a preemptive suspension like last week could potentially be in play [...]
In The Lead – Vertigo
New York bullion trading fired off a few more rounds of price-additive flares this morning as participants attempted to build on yesterday's gains with equal fervor.
Today's list of buying excuses included European equity losses in the region's financial sector, and yesterday's poor reading in the Philly area's factory index. Mirroring at least part of the gains in gold, the Swiss franc also continued to defy gravity for a third trading day and the country's central bank was seen once again trying to hold back the inflow of frightened money before it does significant damage to its export-based economy [...]
2011 PCGS CoinFacts Coin Dealer Hall of Fame Inductees: Akers, Love...
Three famous numismatists have been inducted as the second class to enter the PCGS CoinFacts™ Coin Dealer Hall of Fame: David W. Akers, John Love and Harvey G. Stack.
"The Hall of Fame was established in 2010 to recognize outstanding dealers, past and present, who have handled the greatest coins and collections, and who have made the most significant contributions to numismatics," said David Hall, PCGS Co-Founder and President of Collectors Universe, Inc. (NASDAQ: CLCT).
Akers, Love and Stack join the six inaugural PCGS CoinFacts Coin Dealer Hall of Fame members announced last year [...]