Monthly Archives: November 2011
Gold Dips Below $1,780; Silver Prices Decline 1.9%
Gold finished nearly $10 lower Monday, giving back a portions of last week's gains, as the U.S. dollar rallied in response to the lingering issues surrounding Europe's debt crisis. Gold "traditionally" moves opposite of the greenback, but it tends to rise under circumstances -- such as Europe's dilemma -- that appeal to its safe-have nature.
Gold prices declined $9.70, or 0.5 percent, to $1,778.40 an ounce in the December futures contract on the Comex in New York. Prices traded between an intraday low of $1,774.20 and a high of $1,797.60. Last week gold advanced $32.00, or 1.8 percent [...]
Chickasaw National Recreation Area Quarter Available in Bags and Rolls
At 12 noon Eastern Time today, November 14, 2011, the United States Mint began selling bags and rolls containing the 2011 Chickasaw National Recreation Area Quarter. These products include coins that have been produced for general circulation, but have not circulated.
The Chickasaw quarter honors the national site in the state of Oklahoma, and is the fifth release this year and the tenth in the America the Beautiful Quarters® Program that began in 2010. In all, 56 national park/site quarters will be produced through 2021 [...]
In The Lead – NEUrope!
Monday's markets opened with far less "Europtimism" than had been manifest on Friday and traders once again flocked to the relative safety they continue to perceive in the US dollar...
Thus, gold spot dealings in New York opened the week on a downward note, losing from .50% to 1% and basically trading in a channel of from $1,770 to $1,780 without Friday's display of bullish energy. Spot bullion commenced trading at $1,781 per ounce with a loss of $8 as the "Mario 1UP" bounce failed to materialize in various markets. The opening mood might still morph into an upbeat one as [...]
Gold, Silver Prices Gain 1.8% on Week
Gold prices rebounded nearly $29 Friday after a pounding loss on the previous day. A weaker U.S. dollar was supportive of precious metals in general. For the week, gold advanced $32.00, or 1.8 percent.
Other weekly gains included a matching 1.8 percent for silver and dual 1.1 percent increases for platinum and palladium. Gold was the media headline grabber, rising for three consecutive weeks as other major metals will now attempt a streak beyond one.
On Friday, gold prices rallied $28.50, or 1.6 percent, to $1,788.10 an ounce in the December futures contract on [...]
American Silver Eagle 25th Anniversary Set Photos, Latest Values
Interest continues at a heightened, even frenzied level for the American Silver Eagle 25th Anniversary Set which was released on October 27 and promptly sold out in 4 1/2 hours.
While some collectors assert they will never do business again with the United States Mint due to their deep disappointment surrounding its rollout, those who purchased one or more of the 100,000 sets are enthusiastically glued to their delivery time and soaring values.
To the delight of buyers, the United States Mint started shipping sets this week. They began showing up on buyer's doorsteps on the morning of [...]
In The Lead – Lotsa News At Eleven, Eleven, Eleven.
Precious metals markets opened firmer this morning as the passage of the austerity budget measures by the Italian Senate gave comfort to certain market participants who have been pinning hopes (and trading positions) on the avoidance of a eurozone meltdown lately.
Gold received a $14 lift out of the starting gate and traded at $1,772 the ounce. The $1,730-$1,780 channel appears to be confining the yellow metal for the moment, but do not discount the possibility of out-sized moves yet to come- it all hinges on news from Europe at this time. The Dow surged by over 200 points on the Italian Senate news, for example. Let's see: Dow up = Can gold be far behind? That's the new 'normal' for ya. Gracias, hedge funds. De nada [...]
Gold Drops 1.8%, Silver Falls 0.7%
Gold declined 1.8 percent Thursday, moving opposite of U.S. stocks and other riskier bets, and falling the most in three weeks.
"Gold continues to conform to money market swings in which demand for riskier assets sometimes includes gold, and sometimes not," MarketWatch quoted Richard Hastings, a macro strategist at Global Hunter Securities. "And if the demand for stocks requires fewer new positions in spot gold, then gold declines on these trading days -- like today."
Gold prices dropped $32.00 to settle at $1,759.60 an ounce in the December futures contract on the [...]
Santa Clara Coin, Stamp & Collectibles Expo Ends After November Show
The last scheduled Santa Clara Coin, Stamp & Collectibles Expo will be the upcoming show, November 18 - 20, 2011. Future dates for the twice-yearly Northern California show, including the previously planned March 16 - 18, 2012 show, are being canceled by the Santa Clara Expo's owner, Collectors Universe, Inc. (NASDAQ: CLCT).
The Long Beach Expo, also owned by Collectors Universe, is not affected by the Santa Clara show closing. The next Long Beach Expo is scheduled for February 2 - 4, 2012 [...]
US Mint October 2011 Coin Production: Quarters Surge, Pennies Top 4...
Fewer coins were minted for circulation in October, the latest coin production figures from the United States Mint reveal. In keeping with past months, Lincoln cents kept Mint presses busiest. Pennies hurdled over the 4 billion milestone this year.
Also of note, while the Mint is yet to call finalized mintages for Garfield Presidential $1 coins, it would appear they are at -- or are very close to -- a stopping point. More interesting, unless the United States Mint is producing extra quarters with older designs, the upcoming release of the Chickasaw National Recreation Area Quarter will easily sport the highest mintages of any America the Beautiful Quarter [...]
In The Lead – Honey, Let’s Shrink The EU
Wednesday's 1.5 percent US dollar rally pushed commodities sharply lower and while gold initially resisted the trend, by the session's end it too fell victim to the across-the-board selling of assets that intensified right along with the crisis in Europe. Overnight lows in gold came in at near the $1,750 mark whilst silver dropped fairly close to the $33 level.
Gold and silver have shown what technicians at Elliott Wave have labeled a "double divergence" and one that underscores a possibly "fractured" market-one that is often an unhealthy one. The $1,600 and $32 levels for the two precious metals are the numbers to watch as they could usher in the start of their next 'major down phase' according to EW analysts [...]