In The Lead – Another Bubble; That of Egos
Following a string of losses that has extended over four trading sessions, gold prices tried to stabilize in the $1,630s overnight as a modicum of optimism over Europe's debt crisis resolution emboldened a few buyers to pick up some bullion. Still, the week that was will likely be tallied as gold's worst in one month as the yellow metal's value eroded by over 3%.
Most trading surveys taken a week ago envisioned a higher gold price for this past week and traders were noted to be at their most bullish since the big price rout took place in September. However, hectic conditions in Europe, equity market turbulence, and fund redemptions kept gold in check despite the calendar showing only one week to go prior to Indian festival time [...]
Gold Drops 2.1%, Silver Falls 3.2%
Gold futures dropped for a fourth straight day Thursday as technical selling and European uncertainty weighed into the picture.
"There is no real support for gold until it trades back toward $1,550-1,575. We fear it may get there faster than anyone might wish to imagine given the liquidation pressure taking place," independent investor Dennis Gartman was quoted on Reuters.
Gold prices fell $34.10, or 2.1 percent, to $1,612.90 an ounce in the December futures contract on the Comex in New York. Gold traded from [...]
US Mint Sales: Uncirculated Silver Eagles Rise Again
2011-W Uncirculated Silver Eagles added to their total for the first time since suffering a suspension for re-pricing, according to the latest sales figures from the United States Mint.
Proof and uncirculated Silver Eagles were suspended in late September and returned for sale at reduced prices in early October. A sizable number of collectors apparently canceled their orders in favor of the lower prices as sales of uncirculated Silver Eagles dropped for two straight reporting periods -- by 424 and 11,476. The most recent sales figures from the Mint have the coins up 8,827 for a total of 190,927 [...]
In The Lead – “Democracy Means Permanent Rule!” – M.Gaddafi
Evidently, NOT.
Thursday morning did not suffer from a lack of market-moving news, that's for sure. The world became one strongman shorter this morning as "The Colonel" -- a man who hated to climb more than 35 steps and surrounded himself by an all-female security detail -- "met his maker" over in Libya, following a gunfight.
The US State Department was uber-cautious and it did not initially confirm Mr. G's capture or demise, despite photos of a blood-covered man that appeared to be him making the rounds on the Internet already. It all started months ago with the slapping of a hapless fruit vendor in Tunisia [...]
Royal Canadian Mint Offers 5 Parks Canada Centennial Coins at Face...
Did you know that the Royal Canadian Mint's high-tech plant in Winnipeg produces over 1 billion circulation coins every year? That's like 20 million coins per day or 750 coins per second.
Even though the Mint has produced coins for more than 70 countries in the last 35 years, this article is all about its world-renowned Canadian circulation coins. You know the coins -- you find them in your change and use them for tips, parking meters, vending machines and so much more [...]
Vicksburg Quarter Three-Coin Set Available
The United States Mint released the Vicksburg Quarter Three-Coin Set on Tuesday, October 18, 2011. Each set is available for $14.95, plus the Mint's standard shipping and handling charge of $4.95 per order.
The three-coin set marks the ninth similar issue in the America the Beautiful Quarters® Program which debuted in 2010. It is the fourth from the series this year, with preceding 2011 sets honoring Gettysburg National Military Park, Glacier National Park and Olympic National Park [...]
Gold, Silver and Other Precious Metals Decline
Registering the least in percentage losses among precious metals, gold futures edged 0.4 percenot lower Wednesday as a rebounding U.S. dollar blemished a portion of their appeal.
Marking a third straight day of losses, gold prices dipped $5.80 to $1,647.00 an ounce in the December futures contract on the Comex in New York. Gold touched an intraday low of $1,642.50 and reached a high at $1,666.90 [...]
Finest Known 1870-CC $20 Liberty Double Eagle Gold Coin Stolen
A Brinks shipment from Professional Coin Grading Service to Heritage Auctions on Oct. 17 was apparently broken into, and the finest known 1870-CC $20 stolen. The Liberty Double Eagle gold coin is graded AU58 by Numismatic Guaranty Corporation and carries NGC Certification ID 3414402-001.
"When we opened the Brinks bag, it was evident that the shipping box had been sliced open, and the PCGS box within was empty," said Paul Minshull COO of Heritage. "We immediately called PCGS, who confirmed that their security surveillance video showed that the box and package with the coin were shipped as usual and in good order. At that point, we contacted Brinks security and our insurance company, and their investigations have started. We have also reached out to the FBI."
The 1870-CC $20 rarity was only recently discovered and sent to Heritage for auction [...]
In The Lead – You Want Frites Wiz Zat?
Precious metals started the midweek trading session under continued but mild selling pressure despite a softer US dollar and a third Moody's downgrade of Spain late yesterday...
Spot gold drifted $4 lower on the open, and was quoted at $1,651 the ounce as against a 0.38 slip by the greenback on the trade-weighted index (to 76.78). Silver was off 12 cents at the same time, with a spot-bid quote coming in at $31.92 the ounce. Not much there to report in terms of sizeable moves in platinum and palladium; they both [...]
U.S.S. Cruiser Olympia Commemorative Coin Act Introduced
On Thursday, October 13, Rep. Robert Brady, D-PA, introduced legislation that would honor the U.S.S. Cruiser Olympia with commemorative silver coins during calendar year 2016.
Named the U.S.S. Cruiser Olympia Commemorative Coin Act and numbered H.R. 3180, the introduced legislation would authorize the United States Mint to strike up to 500,000 $1 silver coins in collector proof and uncirculated qualities [...]
