Gold Rises $25.10 Above Last Week’s Close, Silver Prices Rise 3.7%
Gold rebounded Monday to rise $25.10 above last week's close and break a two-session losing streak. A weaker U.S. dollar and bargain-hunting were among factors supporting higher prices.
"Gold today has to do largely with the dollar pullback," Businessweek quoted Andrey Kryuchenkov, an analyst at VTB Capital in London, by phone. "Support for gold is well intact."
Gold prices gained 1.5 percent to settle at $1,710.80 an ounce in the December futures contract on the [...]
In The Lead – Hopetimism + Retail Therapy
Precious metals were definitely in the 'thick' of the aforementioned 'buy everything!' storm of sentiment and short-covering panic this morning and obviously benefited from it as well.
Gold traded above the $1,700 mark as early as last night and touched highs near $1,722 earlier in the Monday session. Silver recaptured the $32 level with a $1.20+ leap to higher ground. Platinum and palladium each bounced more than $20 higher and reached the $1,550 and the $583 levels respectively. Trend followers, rejoice; the 30-day loss in the yellow metal has fallen to under 2% [...]
Eighth Annual PNG 2012 YN Scholarship Competition Announced
The Professional Numismatists Guild (www.PNGdealers.com) will provide a scholarship to a deserving young numismatist (YN) to attend the 2012 American Numismatic Association (ANA) Summer Seminar in Colorado Springs, Colorado. This is the eighth consecutive year of PNG YN scholarships for the popular, annual ANA educational programs.
"The scholarship will cover airfare, tuition for one of the two week-long Summer Seminar sessions in June or July, meals and six nights of dormitory accommodations on the campus of Colorado College, site of the [...]
Few US Mint 2011 Product Releases Remain, Holiday Deadlines Approach
Just a few more new product releases remain on the United States Mint 2011 product schedule, including America the Beautiful Quarter products and Presidential and First Spouse coin items.
To wrap up November, the United States Mint is launching two separate items on Tuesday, November 29, at 12 PM (noon) Eastern Time. They are the Olympic National Park 5 Ounce Silver Uncirculated Coin and the 2011 America the Beautiful Quarters Circulating Coin Set [...]
Gold Prices Decline 2.3% on Week, Silver Erases Most of 2011...
Gold prices declined in three of four days during the abbreviated trading week, extending a string of weekly losses to two. Gold this week fell $39.40, or 2.3 percent, after having given up $63, or 3.5 percent, last week.
In closing Friday, gold prices shed $10.20, or 0.6 percent, to $1,685.70 an ounce in the December futures contract on the Comex in New York. The yellow metal traded between $1,672.60 and $1,702.70. Strength in the U.S. dollar was a predominating factor in the bearish attitude toward bullion for much of the week [...]
2012 Native American $1 Dollar Design Revealed
"Trade Routes in the 17th Century" is the new design theme for the 2012 Native American $1 coin, the United States Mint said today during an unveiling of the dollar design. The new coin is expected to be issued early next year and minted throughout 2012 to meet demand.
Native American $1s must feature annually changing reverse designs that contain "images celebrating the important contributions made by Indian tribes and individual Native Americans to the development of the United States and the history of the United States." The design requirement is mandated by the Native American $1 Coin Act (Public Law 110-82).
The 2012 design portrays a Native American and horse in the foreground with running horses in the background. Designed by [...]
In The Lead – Leftovers
Gold was seen heading for its second weekly decline this morning as the European crisis rolled on and showed no mercy to certain countries' ratings (Portugal, Hungary both cut to 'junk' status) or to the common currency (it fell to under $1.33). The US dollar received a fresh influx of scared money and it vaulted towards the 79.50 mark on the trade-weighted index. Investors remained fixated on Europe in the wake of a poor debt auction by Germany the other day and a 'disastrous' one by Italy.
Thus far, no one has come up with the "seven percent (warning yield level) solution" and Chancellor Merkel was once again heard coming out against the floated idea of a eurobond. "Team Merkozy" plus newly-installed Italian PM Mario Monti [...]
Gold Prices Dip $6, Silver Gives Back $1
Gold prices once again closed below $1,700 an ounce Wednesday -- the second time this week, although losses were significantly pared from earlier session lows.
"It's still all about Europe. The deteriorating situation has been affecting all of the markets, but the failure of the super-committee to reach a compromise on U.S. debt is now weighing in too," wrote Mary Anne & Pamela Aden, well-known analysts and editors of The Aden Forecast.
Gold prices ended down $6.50, or 0.4 percent, to $1,695.90 an ounce in the December [...]
US Mint Sales: Chickasaw Quarters, Garfield $1 Coin Rolls Debut
Throw away the sold out 2011-W Proof American Silver Eagle from the latest U.S. Mint sales figures and there are still several points of interest worth discussing.
To name the major ones... collectors were more active, Chickasaw National Recreation Area Quarters debuted, James Garfield Presidential $1 Coin rolls debuted, Zachary Taylor Presidential $1 Coin rolls came off sale and the 2011 Silver Proof Set passed a fresh milestone of 500,000 in sales.
James Garfield $1 coin rolls went on sale Thursday, November 17, marking the final dollar coin release of the year. Buyers ordered [...]
In The Lead – Knock, Knock, Knockin’ On Berlin’s Door…
Tuesday's hard-fought gains in the precious metals complex evaporated overnight in the wake of a heavy surge in French and Belgian bond yields and the news that China's 'flash' manufacturing survey for November shows a degree of contraction not witnessed in nearly three years.
Gold prices promptly fell to lows near $1,679 and silver more than wiped out its gains from the previous session with a $1.60+ drop per ounce in the wee hours. Add options expiry and pre-holiday weekend book-squaring to the above and we might be looking at an 'active' market over the next few hours, to say the least [...]
