Monthly Archives: January 2011
Take This Job and Keep It – Friday Kitcommentary
Gold's worst losing streak since 2009 brought the yellow metal to lows near $1,355.00 per ounce overnight as fresh, aggressive selling decisively broke bullish sentiment ahead of the release of US unemployment data this morning.
The blame for the steep decline this week (a time when we were all but guaranteed the exact opposite) was laid squarely at the US dollar's doorstep. However, as the numbers reveal, the greenback has already [...]
Gold and Silver Retreat Slightly, Platinum Rises Modestly
U.S. precious metals were mixed on Thursday. Gold and silver edged lower, marking a third straight day of declines with respective new losses of 0.1 and 0.2 percent.
Palladium declined the most, falling 1.6 percent after it was the single precious metal to rise during the previous session. Platinum grabbed the rising role on Thursday, advancing a modest 0.1 percent [...]
US Mint Sales: 2010 Proof Silver Eagles Close to Third Best...
US Mint sales figures eased higher following the Christmas holiday break. 2010 Proof Silver Eagles advanced more than 21,000 after their numbers unexpectedly remained unchanged for a week and they were declared sold out on December 28.
Their new tally stands at 856,356, making them the third best ever seller since the series launched in 1986. Their debuting first year and succeeding second year [...]
A Happy Mending – Thursday Kitcommentary
The selling pressure in precious metals continued for a fourth session this morning, as the US dollar built on its previous, economic data-induced gains, and as risk appetite (a word that keeps being in high 'rotation' among market pundits) gained further traction, but not for certain commodities and assets.
Gold suffered and concluded its largest two-session decline in nearly a full year on Wednesday [...]
Gold Prices Edge Lower, Silver Continues Decline
U.S. precious metals were mixed on Wednesday as all but palladium retreated. Gold fell the least while silver dropped the most. Their losses, however, were mild compared to their previous day's plunge.
Gold prices for February delivery ended down $5.10, or 0.4 percent, to $1,373.70 an ounce on the Comex in New York. Prices ranged from [...]
2011 American Gold Eagles and Silver Eagles Released
The United States Mint began taking orders for its most popular bullion American Eagles on Monday, January 3, 2011.
2011 American Gold Eagles and 2011 American Silver Eagles will begin making their way into the secondary market within days. US Mint Authorized Purchasers started the new year by ordering 8,500 of the one-ounce 22-karat Gold Eagles and 1,696,000 of the .999 fine Silver Eagles [...]
Wheels in Motion – Wednesday Kitcommentary
Gold's worst fall in six months had assorted market pundits rushing to the airwaves overnight, attempting to explain why the "sure thing" – the New Year's mega-rally that had been all but "in the bag" did not materialize and how this (cave-in) all came about.
In effect, ignoring the apparent "sector rotation" that might be underway (from commodities into equities) was still manifest in most the explanations tendered on various media outlets, and the bullish case was being revised in even the slightest terms [...]
Anniversary of Parks Canada 2011 Silver Dollars Released
The Royal Canadian Mint is pleased to announce that its first collector coin of the year, the 2011 Silver Dollar, is dedicated to celebrating the 100th anniversary of Parks Canada.
This flagship of the Mint's annual collector coin program honours Canada's "grandparents of green" who, a century ago, made it their mission to preserve Canada's natural beauty for the enjoyment of future generations [...]
Gold Prices Dive, Silver Plummets 5.2%
U.S. gold prices on Tuesday plummeted the most in a single day since July. Other precious metals followed the yellow metal, with silver diving the furthest by registering a loss of 5.2 percent.
Gold prices for February delivery plunged $44.10, or 3.1 percent, to $1,378.80 an ounce on the Comex in New York. Prices ranged from [...]
A (Re)balancing Act – Tuesday Kitcommentary
Gold prices fell well under the $1,400.00 mark relatively early on Tuesday, losing the most value in nearly two months' time, as market participants returning to their trading posts in larger numbers decided that profit-taking was in order, in light of the emergent global recovery (and a few other trends as well).
Such a development does not just imply a lack of crisis conditions, against which a gold safe-haven allocation may make less sense than, say, the period of from 2007 through [...]