Monthly Archives: January 2012
Gold Hits 6-Week High as Silver, Platinum and Palladium Rally 1.9%
It was a rallying day of nine's in percentage gains for precious metals Monday. Gold prices rose 0.9% to close at a six-week high while silver, platinum and palladium each surged 1.9%. Gains in gold were attributed to weakness in the U.S. dollar, technical buying and a "risk-on" sentiment brought on by developments out of the EU.
Gold prices rose $14.30 to $1,678.30 an ounce in the February futures contract on the Comex in New York. The settlement prices was gold's best since [...]
2012 America the Beautiful Quarters Rolls Priced Lower
Rolls of America the Beautiful Quarters this year will be priced $7 lower, according to a new U.S. Mint notice published on the Federal Register Friday and dated one week earlier.
The reduction follows a series of other cuts in product prices recently announced by the U.S. Mint, including companion bags of 2012 America the Beautiful Quarters. Quarter rolls and bags are made available on the day a new quarter design is released into circulation [...]
In The Lead – Nothing Newt Under The Sun
Gold prices had traded as high as $1,678 overnight but they opened nearer to the $1,670 level -- one above which current resistance barriers are still found. The yellow metal has reaffirmed its recent correlation to the euro once again and it does manifest the potential for an extension of its recent upward correction to the $1,700 and just above area.
Much of the strength and longevity of the push towards those higher figures will therefore depend on the flavor of the news coming out of Europe over then next week or so [...]
Gold Gains 2% on Week as Silver Soars 7.3%, US Bullion...
Gold, silver and platinum ended Friday higher to enhance weekly gains while palladium retreated on the day but still soared on the week. Market watchers were glued to news out of Europe and looking ahead to the U.S. Federal Reserve policy meeting on Wednesday and Thursday.
Gold prices settled up $9.50, or 0.6%, to $1,664.00 an ounce in the February futures contract on the Comex in New York. Gold advanced 2.0% (+$33.20) this week after rising 0.9% last week. Analysts provided split views on gold's direction next week [...]
First Canadian 2012 Collector Coins Revealed by Mint
The Royal Canadian Mint is pleased to introduce exciting new gold, silver and base metal keepsakes inspired by Canada's historical, cultural and artistic heritage by launching its first collector coins of 2012.
Leading this impressive array are the 2012 Proof and Brilliant Silver Dollars, as well as two new Proof Sets, which pay an unforgettable tribute to the 200th anniversary of the War of 1812.
Other coins offer a fascinating look at new and old stories of Canada such as [...]
In The Lead – Enter the Dragon
Spot precious metals dealings opened with assorted losses this morning as the fizzling in the euro's rally occurred and as the US dollar repaired yesterday's minor damage with an ascent of 0.35% to the 80.36 mark on the trade-weighted index. Gold fell $10 to $1,645.50 while silver dropped 19 cents to the $30.45 bid quote. Rhodium was quoted as unchanged at $1,300 per ounce.
HSBC' release of its flash Chinese PMI data added to the base and precious metals' woes as it continues to show difficulties in that country's manufacturing sector (as well as its export sector). As China ushers in the New Year, many are wondering what will happen in the all-important real estate niche given what has just been learned about it [...]
Gold Dips 0.3% as Inflation Reported Flat, Silver Edges Down 0.1%
Gold retreated modestly, snapping a two-session winning streak on profit-taking pressure and better than expected inflation news which was said to dampen the metal's appeal. The Labor Department on Thursday said U.S. inflation was flat in December for a second consecutive month. Many analysts were expecting a 0.1% increase.
Gold prices declined $5.40, or 0.3%, to $1,654.50 an ounce in the February futures contract on the Comex in New York. Prices moved [...]
eBay and PNG Collaborate, Replica Coin Listings to be Removed
eBay (www.ebay.com), the world's largest online marketplace and a global leader in mobile commerce, recognizes that the coin category on eBay is a dynamic space with a passionate -- and informed -- community. They are listening to their customers and re-engaging with coin enthusiasts on and off eBay.com to understand how we can make the coin experience on eBay even better [...]
US Mint Sales: Vicksburg 5 Oz Silver Coin Debuts, Gold Eagles...
Newly released sales figures show elevated interest in United States Mint products following the entrance of the 2011-P Vicksburg National Military Park Five Ounce Silver Uncirculated Coin and the 2012 America the Beautiful Quarters Silver Proof Set.
And despite higher prices, American Gold Eagles rallied. Each of the collector coins garnered improved weekly sales, perhaps generated by bullish sentiment toward gold and expectations of rising coin prices. Proof Gold Eagles rose 1,562 across all product options as compared to the previous weekly increase of [...]
In The Lead – Children at Work
The IMF's quest for another $500 billion in lending resources managed to boost the euro for a second day this morning and lifted gold prices to five-week highs around the $1,670 resistance area before momentum waned and the yellow metal stalled out and then retreated to near the $1,660 level.
The gold-euro correlation remains fairly strong and, for the latter, much is currently being pinned on possible future developments as opposed to current reality, so the (market) jury remains out on how sustainable the common currency's rise to the $1.29 mark will prove to be [...]