Monthly Archives: December 2011
2012 Gold and Silver Eagle Bullion Coins Launch January 3
In a memo Wednesday to its network of Authorized Purchasers, the United States Mint announced the release date for what will be its two most popular bullion coins next year, the 2012 American Gold Eagle and 2012 American Silver Eagle.
According to the memo, the bullion coins, including the fractional sized Gold Eagles, will be available for order on Tuesday, January 3 -- the same day last year's issues launched [...]
Gold Prices Drop 2% as Silver Plummets 5.2% to 3-Month...
Precious metals plummeted Wednesday as the euro fell to a 15-month low and the U.S. dollar resultantly turned higher. Gold, in turn, declined for a fifth straight day and silver fell to a 3-month low.
Gold prices declined $31.40, or 2.0%, to $1,564.10 an ounce in the February futures contract on the Comex in New York. Prices ranged from an intraday low of $1,557.60 to a high of $1,595.00 [...]
US Mint Reduces Prices on Five Numismatic Silver Coins
The United States Mint on Tuesday once again reduced prices on several numismatic silver coins, marking the second such occurrence in less than three months.
"American Eagle Silver Uncirculated Coins and America the Beautiful Five Ounce Silver Uncirculated Coins, previously taken off sale for re-pricing, are now available at new LOWER PRICES. Be sure to PLACE YOUR ORDER TODAY," the United States Mint advertises on its online store at www.usmint.gov/catalog.
These price drops were precipitated by a falling silver market which is down over 40% from its high earlier this year. The precious metal averaged [...]
In The Lead – Chinese Take-Away
Gold prices drifted even lower overnight and this morning as year-end sellers once again cashed still-profitable chips in and opted to park proceeds in cash at least until the first week of 2012 draws to a close.
Portfolio reallocations will then come into play and the market might get a better sense of direction but as things stand right now, the yellow metal did not appear to have too much support at the psychological $1,600 mark, nor did it appear to have too much of the same as it broke under the $1,570 area around the 10 o'clock hour in New York this morning [...]
Early 2012 US Mint Product Schedule Published
With one release left in 2011, the United States Mint is getting ready for next year's early product launches and has already published a scheduled line up for the first two months.
Similar to last year, the United States Mint will be offering core numismatic products early, such as clad and silver proof sets. The table below lists 2011's final product and the available 2012 product schedule that ranges from [...]
In The Lead – Going With The Flow
The trading environment remained thin and bereft of much energy as the abbreviated market week reopened for business in New York this morning. Overnight, gold breached the pivotal $1,600 mark once again and fell to lows near $1,590 despite a slightly weaker US dollar and despite a hefty advance in copper and a mild rise in crude oil values. Options expiry and year-end profit-booking elicited light but steady selling from market participants and the pressure was manifest in all but platinum prices this morning.
Spot gold traded about $10 on either side of the $1,600 level while silver continued to orbit about 30 cents on either side of the $29 mark per ounce. Platinum advanced [...]
Gold and Silver Prices Higher in 2012, Forecasts PNG Members
How will gold, silver and other precious metals perform in 2012? Year-end predictions by experts with decades of experience in buying and selling gold, silver and other bullion coins with the public almost unanimously point toward price increases.
However, some of their opinions significantly vary on how high the increases will go in the next three months and a year from now, according to the Professional Numismatists Guild, a [...]
Gold Marks Modest Weekly Gain as Palladium Soars and Silver Falls
In thin pre-holiday trading, gold rose 0.5% this week despite falling in four of five days. Tuesday's near $21 rally cemented the weekly increase as each of the down days was modest.
On Friday, gold prices declined $4.60, or 0.3%, to $1,606.00 an ounce in the February futures contract on the Comex in New York. Gold reached its highest at $1,615.60 and the lowest at $1,604.00.
Gold's pick-up this week contrasts against last week when the yellow metal plummeted 6.9 percent. Many market-watchers expect gold prices to [...]
Bills Seek to Change Cents and Nickels to Steel
The metallic composition of cents and nickels would be changed if newly introduced legislation becomes law. According to two separate bills introduced on December 15, 2011, America's two lowest denominated coins should be struck primarily from steel.
Congressman Steve Stivers of Ohio introduced the proposed changes as part of the Cents and Sensibility Act, H.R. 3693, and the Saving Taxpayer Expenditures by Employing Less Imported Nickel Act, H.R. 3694, also known as the STEEL Nickel Act. Taxpayer savings was the reason given for each [...]
In The Lead – A Triangle Formation Everyone Might Like
Gold prices remained confined to a tight, smaller than $20 range for a second day as trading in metals wound down further and as business in New York slowly got underway this morning. The action was once again defined by the absence of general sentiment change, by a bit of additional pre-holiday and year-end profit-taking and book-squaring, and by thinning participation by players.
US economic data on tap yesterday showed US GDP revised slightly downward for Q3 mainly on account of less money having been spent by American consumers on health care. The news engendered a tad of risk-taking in the markets and helped gold to claw its way back above the $1,600 pivot point [...]