Gold Declines 1.4%, Silver Prices Edge Higher
Gold futures closed lower for a second straight day Tuesday as the U.S. dollar strengthened amid news of slowing Chinese growth and a potential downgrade of France's AAA credit rating.
Gold prices fell $23.80, or 1.4 percent, to $1,652.80 an ounce in the December futures contract on the Comex in New York. Gold ranged from an intraday low of $1,628.20 to a high at $1,678.20 [...]
In The Lead – Autumn Leaves (and other things) Are Falling
Gold and other precious metals prices opened sharply lower this morning as a duo of news from China and from Europe rattled the commodities' space and sent speculators scurrying towards the 'exit' doors in large numbers. Friday's commodity niche optimism morphed into gloom as Chinese economic growth figures and potential French downgrades surfaced and landed straight in the middle of the markets.
Spot gold fell $30 to open at $1,641 while spot silver slid 106 pennies to start today's session off at $30.74 per ounce. Platinum and palladium were not spared either; the former declined $29 to $1,520 and the latter dropped $16 to $601 the ounce. Crude oil fell only marginally, but copper prices fell 2.35% as the news we will cover below made their impact felt nowhere more than in commodities [...]
March of Dimes Commemorative Coin Act Introduced
New legislation has been introduced in the U.S. House of Representatives calling for commemorative silver dollars in calendar year 2014 to celebrate the 75th anniversary of the founding of the March of Dimes.
Entitled the March of Dimes Commemorative Coin Act of 2011 and numbered H.R. 3187, the legislation would authorize the United States Mint to produce up to 500,000 coins struck in 90 percent silver and 10 percent copper [...]
Gold Dips Modestly, Silver Prices Fall 1.1%
U.S. gold and silver started the week lower Monday after last week's gains as investors turned skittish, opined analysts, over the latest developments in Europe's sovereign debt crisis.
Gold prices stepped back $6.40, or 0.4 percent, to $1,676.60 an ounce in the December futures contract on the Comex in New York. Gold ranged from an intraday low of $1,667.00 to a high at $1,696.80 [...]
In The Lead – Smothered By Angela’s Ashes
Spot dealings in New York saw an opening gain of $5.80 in the yellow metal and traders quoted the bid-side in gold at $1,685 the ounce. Bullion narrowed those opening gains within the first sixty minutes of trading action however, and bids were offered nearer the $1,680 area. While a sprint towards $1,700-$1,725 ought not to be ruled out during coming trading sessions this week, the approach to such levels could be fraught with profit-taking selling.
The risk of a renewed slippage towards lower support levels in gold also remains present however, should the greenback pick up more safe-haven type of bids before the European October 23 summit. Support however is anticipated to hold at one or another lower level, as late next week the markets approach another kind of ‘deadline' which has traditionally offered some relief; the start of Indian festival days [...]
Stack’s Bowers, Ponterio to Offer 2,800+ Coin and Currency Lots at...
The Stack's Bowers Galleries November 2011 Official Baltimore Auction will feature more than 8,000 total lots, including four foreign coin and paper money sessions by Stack's Bowers and Ponterio, presenting more than 2,800 lots.
In addition, there will be four U.S. coin sessions and one U.S. currency session. Lot viewing will be conducted by appointment at the firm's Irvine, California, headquarters October 27-November 2, at the firm's New York office November 8-11, and onsite at the Baltimore Convention Center November 14-18.
The auction will be held at the Baltimore Convention Center beginning Tuesday, November 15, concluding Saturday, November 19 [...]
Gold, Silver Mark Weekly Gains; Bullion Eagle Coins Sluggish
U.S. gold and silver rallied Friday, capping two consecutive weekly gains as gold advanced 2.9 percent and silver surged 3.8 percent.
The final trading day of the week had gold rising, opined analysts, as stocks and other riskier bets blossomed following news that U.S. consumers spent more than expected in September and on improved optimism that Europe's debt crisis would be contained [...]
2012 UK Queen’s Diamond Jubilee £5 Coin Features New Portraits
For Her Majesty The Queen's Diamond Jubilee in 2012, the Royal Mint has unveiled the only official UK £5 coin struck to mark the historic occasion, featuring two new and exclusive portraits of the monarch.
Designed by Ian Rank-Broadley FRBS to celebrate a remarkable royal milestone, the portraits encapsulate The Queen's 60 years on the throne, a regal achievement matched only by the reign of Queen Victoria, the Queen's great-great grandmother.
US Mint’s Largest 2011 American Gold Eagle Proof Coin Sells Out
The United States Mint began selling collector 2011 American Gold Eagle Proof Coins on April 21, 2011. One of them had been teetering toward a sell-out, and then suddenly, hit the marker Friday morning.
The Eagles come in four sizes, plus a four-coin set, and each has a different price and mintage limit. Interested buyers should note that the most popular of the gold American Eagle coins, the largest 1 oz. proof, has sold out.
Proof sizes are 1 oz., 1/2 oz., 1/4 oz. and 1/10 oz., and then the four-coin set includes all them neatly packaged together. Each features [...]
In The Lead – “Yes, We Cain? Ummm…No”
Silver traded 60 to 70 cents higher and was quoted at near the $32.50 level for most of the morning hours ahead of Friday's ritualistic book-squaring. Platinum and palladium both advanced by double-digits; the former gained $23 to trade at $1,559 on the offered side of spot and the latter climbed $21 to the $618 level per ounce. Standard Bank (SA) market analysts opine that based on " a cost of production basis [view] both metals are too low and they are expected to move towards $1,600 and $700 respectively, towards the end of the year."
A portion of Friday morning's speculative-flavored optimism was attributed to news from China that inflation slowed somewhat during September. Chinese CPI figures came in at [...]
