Monthly Archives: June 2011
Gold Falls to 5-Week Low, Silver Prices Decline 3%
U.S. gold futures on Monday closed to a five-week low and below $1,500 an ounce for the first time since mid May. The decline marked a third-straight, and came on the heels of a week where the yellow metal fell 2.5 percent.
August gold prices fell $4.50, or 0.3 percent, to $1,496.40 an ounce on the Comex in New York Friday -- the lowest closing price since May 19. Gold prices traded between $1,490.80 and $1,506.10. [...]
Ron Paul Calls for Transparency in Hearing and Legislation on U.S....
Ron Paul wants full transparency when it comes to American gold reserves. In response to legislation seeking to verify the existence of U.S. gold reserves and the accuracy of records accounting for those reserves, the U.S. House Financial Services Subcommittee on Domestic Monetary Policy and Technology held a hearing last week entitled: "Investigating the Gold: H.R. 1495, the Gold Reserve Transparency Act of 2011 and the Oversight of United States Gold Holdings." The subcommittee is chaired by Congressman Ron Paul of Texas, who also happens to be the individual who introduced the legislation [...]
In the Lead – Greece is the Word
Following last week's major sell-off, the pitched battle for the $1,500.00 mark continued to unfold in the gold market this morning, albeit the yellow metal appeared unable to benefit from hitherto generally supportive factors such as a weaker dollar, stronger euro and minimal losses in crude oil.
An overnight dip to the $1,490.00 area reignited perceptions that whatever the scope of the recent falling away from the $1557.00 level might be, the decline might not draw to a close at least until some support is tested nearer the $1,480.00 value zone [...]
PCGS to Exhibit High Desert Collection at Chicago ANA World’s Fair...
The veil will be intriguingly lifted when highlights of what is now the all-time finest U.S. type set ever assembled of coins dated 1792 - 1964 will be publicly displayed for the first time at the Chicago ANA World's Fair of MoneySM.
Known as the High Desert Collection, the multi-million dollar complete set consists of 137 outstanding coins, and 30 of them will be exhibited at the Professional Coin Grading Service booth (#200) from Tuesday, August 16 until about noon on Saturday, August 20, 2011 [...]
Gold Prices End Week Near $1,500; Silver Drops Below $35
U.S. gold prices dropped near $1,500 an ounce and silver prices fell well below $35 an ounce, closing Friday at bearish multi-week lows. A firmer dollar and weakened crude oil prices contributed to precious metals' declines.
Weekly losses included 2.5 percent for gold, 3.1 percent for silver, 4.3 percent for platinum and 1.9 percent for palladium [...]
Orders Maxed for Yosemite, Grand Canyon and Mount Hood Silver Coins...
The opportunity to purchase a Yosemite National Park Five Ounce Silver Uncirculated Coin is now extremely limited. The United States Mint has indicated that the allotted coin's 27,000 mintage is spoken for, and that any new orders placed will go immediately to a waiting list. That means new orders will be fulfilled only if one of the original 27,000 orders is cancelled.
Collectors wanting a chance on the waiting list can visit the Mint's website at http://catalog.usmint.gov/ or by calling its customer service number at 1-800-USA-MINT (872-6468) [...]
In the Lead – Monaco Market Monitions
Gold's steepest fall in nearly two months took place on Thursday as the commodities' sector also took its largest hit in values in the same timeframe.
The causes of the sell-off were cited as US dollar strength and the announcement by the International Energy Agency that a release of 60 million barrels of black gold was in the planning in order to mitigate any possible shortfall in the commodity [...]
Gold Tumbled 2.1%, Silver Prices Plummet 4.7%
U.S. gold and silver prices ended sharply lower Thursday as the U.S. dollar rallied and crude oil prices sank.
August gold prices tumbled $32.90, or 2.1 percent, to close at $1,520.50 an ounce on the Comex in New York, breaking away from a string of seven straight session gains which had lifted prices up $38.80 since June 13. Prices ranged between $1,515.00 and $1,549.60 [...]
2011 Julia Grant First Spouse Gold Coins Released by US Mint
The United States Mint released the 2011 Julia Grant First Spouse Gold Coins on Thursday, June 23, at 12 PM Eastern Time. The 24-karat gold coins are the second of four issues in the First Spouse series for this year and the nineteenth since they were introduced in 2007.
Julia Grant was the country's First Lady while her husband Ulysses S. Grant served as the eighteenth President of the United States between 1869 and 1877. The collector coins honoring her are struck from [...]
In The Lead – Fed Tweets: Weak! Specs Tweet: Eek!
Precious metals prices were not spared the damage seen in other areas in the commodities' space this morning either. Spot gold traded in the first half-hour of the Thursday session in New York with a sizeable, $30.00+ (1.85%) per ounce loss in value.
The bid-side in gold was indicated at $1,517.70 per ounce shortly after the market's opening, when, just one day ago, the fact that bullion had managed to once again touch the $1,557 mark (a seven-week high) had actually increased the odds of it reaching for not only its previous highs near $1,577 but possibly as high as the $1,600- $1,630 area [...]