Gold Dives 3.7%, Silver Prices Pounded Down 9.6%
Stocks and commodities sank Thursday as the threat of another recession in the U.S. and Europe spooked investors and gave flight to cash. As the dollar rallied, previous metals dived.
Gold prices dropped $66.40, or 3.7 percent, to settle at $1,741.70 an ounce in the December futures contract on the Comex in New York. Gold ranged from an intraday low of $1,723.20 to a high of $1,789.00. Despite recent losses, the yellow metal remains 22.5 percent higher on the year [...]
Gettysburg National Military Park 5 Oz Silver Uncirculated Coin Launches
After patiently waiting all year, collectors finally got their chance to buy a 2011-P Gettysburg National Military Park Five Ounce Silver Uncirculated Coin.
The United States Mint launched the uncirculated coin at noon Eastern Time Thursday, September 22, 2011 for $279.95. It is the first 2011-dated five ounce collector issue, and the sixth overall in the America the Beautiful Five Ounce Silver Uncirculated Coin™ series.
Before the uncirculated coin could appear, the Mint had to finish releasing all five of the 2010-dated issues, which they did between April and July The only one of those that is still available is the issue honoring Mount Hood [...]
In The Lead – It’s Not Rabbit Season! It’s Duck Season!
Spot gold prices lost $35 in overnight dealings after having shed more than $24 on Wednesday after the Fed announcement made it clear that Mr. Bernanke was not going to "go big."
December gold fell more than $54 in electronic trading as the aforementioned beneficiary of the FOMC's new "twist" left traders... twisting in agony about the near-term prospects of everything from gold, to silver, to copper, and to crude oil (now nearing $82).
The deep sell-off in gold has yielded a certain amount of chart damage and [...]
Gold Prices Retreat $1, Silver Advances 33.2 Cents
U.S. bullion prices were mixed with modest movements Wednesday as caution was in the wind as players awaited the latest FOMC statement. Gold and palladium dipped slightly while silver and platinum edged higher.
Gold prices closed down $1.00, or 0.1 percent, to $1,808.10 an ounce in the December futures contract on the Comex in New York. Gold moved between an intraday low of $1,786.00 and a high of $1,819.40 [...]
US Mint Sales: Sets Active, Bullion Silver Eagles Top 30 Million
United States Mint numismatic product sales rebounded last week, led by sets and Silver Eagles. According to the latest Mint figures, 52 numismatic products outperformed their prior weekly gains as compared to 11 in the previous report.
Silver Eagles were in the news due to the September 15 release of the uncirculated version following a two year hiatus. Demand was strong, with debut sales at 184,967. That translates to nearly $11.2 million in revenue in the first five days. [...]
In The Lead – Today Shall Be My Dancing Day
The midweek trading sessions in New York opened on a mixed-to-down note in precious metals this morning as pre-Fed announcement posturing and a stronger dollar had traders darting in various directions.
Gold spot prices fell $13 at the start of the floor action and were once again trading beneath the $1,800 pivot point while silver climbed 22 cents but still traded under the $40 psychological figure on the bid-side [...]
Rare 1880 Australian Gold Imperial Sovereigns Offered in Salisbury Auction
Woolley & Wallis, the Salisbury (U.K.) Fine Art Auctioneers, who are including an increasing number of coins and medals in their sales, are to offer three extremely rare gold Imperial Sovereigns struck at the Sydney Mint in Australia in 1880.
During one of their regular Valuation Days the auctioneers received a consignment of 150 coins dating from 1843 to 1887.
Outwardly they appeared to be a fairly standard group, but on examination three of the 1880 coins display an error by the Mint in spelling the Queen's name VICTORIA -- an inverted 'A' has been used in place of the 'V' [...]
US Mint Collector Gold Coins May See Price Cuts
Due to volatile, but lower trending gold prices over the last several days, the United States Mint on Wednesday may reduce prices on its collector gold coins for a second straight week.
For price cuts to occur, the London Wednesday AM gold fixing must remain at or below $1,838.00 an ounce and the Wednesday PM fixing must stay below $1,800 an ounce. As of this writing, the first condition is likely to happen while the second is now in doubt -- gold rallied Tuesday afternoon with futures in New York jumping $30.20 to $1,809.10 an ounce [...]
Gold Prices Advance 1.7%, Silver Adds 2.5%
U.S. gold climbed 1.7 percent Tuesday as investors returned to buying the metal at cheaper prices after gold dropped to a more than three-week low yesterday.
Gold prices ended up $30.20 to $1,809.10 an ounce in the December futures contract on the Comex in New York. Gold traded from an intraday low of $1,772.00 to a high of $1,814.30. Gold prices fell 2.0 percent on Monday, which was the lowest level since August 25 [...]
In The Lead – Taxing Matters
Metals prices with the exception of silver attempted to recover some of Monday's heavy losses in early trading action in New York this morning. The yellow metal fell $34 yesterday and touched lows near the $1768 level.
The currently apparent fatigue being exhibited by the precious metal has not changed the fact that the blogosphere remains laden with unequivocal pronouncements that gold "has to go up" and/or that it "cannot go down." Not everyone agrees, however [...]
