Monthly Archives: January 2011
QE’s Quick Effect Quite Ephemeral – Thursday Kitcommentary
Wednesday's FOMC announcement-induced price gains in gold evaporated overnight as the yellow metal not only did not manage to overcome overhead resistance levels but fell victim to selling once again in the wake of rising risk appetite...for other assets (mostly equities).
Thus, the 1% jump that took place right after the Fed surprised no one by keeping interest rates steady (for the time being) turned into a 1% loss as of the time the market opened for trading this morning in New York [...]
Gold and Other Precious Metals Advance
Gold prices rose Wednesday after having dropped to a three-month low during the previous session. Other metals improved as well, with silver breaking its daily losing streak that began exactly one week ago.
February gold prices edged higher by 70 cents, or 0.1 percent, to $1,333.00 an ounce on the Comex in New York. Gold ranged from $1,324.30 to $1,337.70 [...]
US Mint 24-Karat Buffalo and First Spouse Gold Coin Prices Lowered
The United States Mint on Wednesday lowered several of its numismatic coin prices following a series of daily losses in precious metals.
The only coins affected in this round of price reductions were the Mint's 24-karat American Buffalo Gold and First Spouse Gold Coins. That is because newer year numismatic issues are yet to be launched and all of last year's proof Platinum and Gold Eagles have [...]
Coming Soon: House of the Seven Hawks? – Wednesday Kitcommentary
Difficulties continued to confront the gold and silver markets overnight and even more so early this morning, as recent and growing fund liquidations appeared not to be easing up a whole lot (read: at all).
Players were caught between digesting President Obama's references to US budget freezes (and other assorted government size and spending-cutting measures), and the upcoming FOMC statement [...]
All US Mint 2010 Gold Eagle Proof Coins Sell Out
The United States Mint today moved the two remaining collector 2010 American Gold Eagle Proof Coins to the sold out, or no longer available, section of its website.
The fractional one-quarter ounce and one-tenth ounce sizes disappeared. Their sales last week had halted at even numbers, suggesting their days were numbered [...]
Gold Drops Toward 3-Month Low, Silver’s Tumble Continues
Gold prices marched toward a three-month low Tuesday while silver continued on its daily streak of descents that began on January 19.
February gold prices ended down $12.20, or 0.9 percent, to $1,332.30 an ounce on the Comex in New York -- its lowest level since October 17. Prices ranged from $1,321.90 to $1,338.00. The yellow metal has fallen 6.3 percent in [...]
US Mint Releases 2011 Silver Proof Set
The United States Mint started selling the 2011 Silver Proof Set today for a price of $67.95, plus shipping and handling.
The set includes fourteen proof coins which the US Mint describes as "extraordinarily brilliant, with sharp relief and a mirror-like background." Half of them are composed of 90 percent silver, totaling 1.34 ounces of the metal which is worth about $36 at a [...]
"What’s It Really Worth?" Collectibles Radio Show Launched by Stuppler
A new, weekly radio program about coins and other collectibles has been launched by Barry Stuppler, President of Stuppler & Company in Woodland Hills, California and the Immediate Past President of the American Numismatic Association.
The one-hour program, "What's It Really Worth?," is broadcast each Saturday at 9 p.m. Pacific time on one of the top-rated Los Angeles radio stations, TalkRadio 790 KABC-AM, and is available around the world online at www.KABC.com [...]
Poll Positions – Tuesday Kitcommentary
Monday evening's spot metals prices closed with solid losses across the complex. Gold fell to $1,334.50 after hours, losing 7.90 per ounce. Silver dropped 58 cents to end at the $26.95 level on the spot bid price scale. Platinum lost $13 to finish at $1,813.00 while palladium ended down $11 at $810.00 the ounce. Rhodium finished at the round figure ($2,400.00) after being static for the day.
All of the above unfolded despite a slightly lower US dollar but the 108-point surge in the Dow may have contributed to the on-going long liquidation in metals [...]
Lawmakers Ask FTC and U.S. Mint to Combat 9/11 Commemorative Coin...
A New York Senator and Congressmen are asking the federal government to put a stop to the practices of a company which they think "deliberatively misleads customers" in regards to 9/11 commemorative coins being sold.
U.S. Senator Charles E. Schumer and U.S. Representative Jerrold Nadler are asking the Federal Trade Commission (FTC) to look into the operations of National Collector's Mint located in Port Chester, NY. The company is currently promoting the sale of its "10th Anniversary September 11th Commemorative Dollar" with ads that [...]