Monthly Archives: August 2011
Gold Advances Modestly, Silver Prices Rebound 4%
U.S. gold prices recovered slightly with an advance of nearly $6 Thursday after having cratered $134.60 during the previous two sessions in a corrective pull-back hedged with profit-taking.
"Gold's decline with such a dramatic magnitude in such a short period of time is driven by short-term momentum investors coming out, not long-term investors," Reuters quoted Stanley Crouch, chief investment officer at Aegis Capital, who oversees $2 billion in assets.
December gold prices advanced $5.90, or 0.3 percent to settle at $1,763.20 an ounce on the Comex in New York [...]
US Mint Sales: Eagle Gold Coins Robust, Grand Canyon 5 Oz...
The latest United States Mint sales figures provide several interesting revelations. Despite suspensions of gold coins and resulting higher prices, several marked improved gains. Other coins also rallied. 68 numismatic products outperformed their previous weekly gains during the third week of August. That compares to 48 in the second week and 26 in the first week.
In additional highlights, orders for the Grand Canyon National Park 5 Ounce Silver Uncirculated Coin are apparently maxed and the debuting sales results for rolls of Rutherford B. Hayes dollars are available.
United States Mint commemorative gold coins remain unavailable after having been suspended on August 12. Their latest sales totals were expectedly trimmed, but only modestly [...]
In The Lead – What Goes [Straight] Up…
The biggest decline in gold since 1980 (and not many readers may personally recall that fateful year) unfolded in recent hours and the rout extended into the morning hours on Thursday as the yellow metal fell yet another nearly $50 to touch the $1,702 mark overseas.
On Wednesday, spot gold fell by another $77.90 per ounce to finish the stormy day at $1,751.30 the ounce. Silver lost $2.11 to end at $39.69. Spot gold dealings opened with pared losses in New York this morning as some of the selling let up momentarily [...]
American Silver Eagle 25th Anniversary Set Announced
United States Mint Deputy Director Richard A. Peterson gave collectors some welcome news Friday when he announced a forthcoming American Silver Eagle 25th Anniversary Set.
Details about the Silver Eagle anniversary collection, due out in late October, generated further excitement when it was revealed that it would feature two unexpected issues. The five coins announced as a part of the set include: [...]
Gold Prices Plunge 5.6%, Silver Tumbles 7.4%
U.S. gold prices plummeted 5.6 percent Wednesday, registering the biggest fall since March 2008. The yellow metal has plunged for two straight days, falling a combined $134.60, or 7.1 percent, as investors took profits following six sessions of fast, frothy gains.
"People who made a lot of quick bucks are leaving the trade to return at lower points," Matt Zeman, head trader and strategist at Kingsview Financial in Chicago, was quoted on MarketWatch.
December gold prices plunged $104.00 to $1,757.30 an ounce on the Comex in New York [...]
US Mint Gold Coins Return at Same Prices as Gold Dives
Price hikes for United States Mint collector gold coins were forestalled Wednesday after gold prices plummeted by more than $100 in a single day and moved below $1,760 an ounce.
The United States Mint returned to selling 12 of 16 gold coins at 12:00 noon ET. And, thanks to gold's plunge, the collector coins cost the same as when they were preemptively suspended Monday after the yellow metal rocketed toward $1,900 an ounce [...]
In The Lead – A New (G)old Standard? It’s…Academic
Gold prices fell by the most in a year-and-a-half on Tuesday as the quest for safe-haven turned into a quest for securing profits and being the first one out from an apparently extremely overbought market. RSI metrics had been above the 70-mark for more than two weeks while gold vaulted 14% during the very month that is normally price-unfriendly.
However, yesterday, the yellow metal at one point came within just $5 of recording a full $100 drop from the most recent high water mark it achieved just hours prior to yesterday's rout (1,917 versus 1,822) [...]
Shireman Collection of Barber Halves, URC at Sept. 2011 Long Beach...
The number one collection in the PCGS Set Registry(SM) of Barber half dollars with major varieties (circulation strikes, 1892 - 1915) will be displayed by Professional Coin Grading Service at the Long Beach Coin, Stamp & Collectibles Expo, Thursday to Saturday, September 8 - 10, 2011.
"This will be only the second time the collection has ever been publicly exhibited," said Ronald J. Gillio, Expo General Chairman.
Another featured attraction, the "University of Rare Coins" (URC), the first interactive online learning center on numismatics, created and [...]
Glacier Quarter Three-Coin Set Available
The United States Mint on Tuesday, August 23, made available the Glacier Quarter Three-Coin Set for a price of $14.95.
The three-coin set is the seventh issue in the America the Beautiful Quarters® product series and the second 2011-dated release after the Gettysburg Quarter Three-Coin Set launch on July 27.
The Glacier Quarter Three-Coin Set is produced for coin collectors as it contains numismatic quarters including [...]
Gold Falls from Record Streak, Silver Prices Drop 2.4%
U.S. gold futures retreated Tuesday as investors grabbed profits after the yellow metal soared past $1,900 an ounce and to an all-time record high. Gold had gained $149.30, or 8.6 percent, in the previous six sessions. Its loss on Tuesday breaks a streak of five straight records.
December gold prices declined $30.60, or 1.6 percent, to $1,861.30 an ounce on the Comex in New York. Prices ranged from $1,851.90 to an all-time record high of $1,917.90 [...]