In the Lead – Monaco Market Monitions
Gold's steepest fall in nearly two months took place on Thursday as the commodities' sector also took its largest hit in values in the same timeframe.
The causes of the sell-off were cited as US dollar strength and the announcement by the International Energy Agency that a release of 60 million barrels of black gold was in the planning in order to mitigate any possible shortfall in the commodity [...]
Gold Tumbled 2.1%, Silver Prices Plummet 4.7%
U.S. gold and silver prices ended sharply lower Thursday as the U.S. dollar rallied and crude oil prices sank.
August gold prices tumbled $32.90, or 2.1 percent, to close at $1,520.50 an ounce on the Comex in New York, breaking away from a string of seven straight session gains which had lifted prices up $38.80 since June 13. Prices ranged between $1,515.00 and $1,549.60 [...]
2011 Julia Grant First Spouse Gold Coins Released by US Mint
The United States Mint released the 2011 Julia Grant First Spouse Gold Coins on Thursday, June 23, at 12 PM Eastern Time. The 24-karat gold coins are the second of four issues in the First Spouse series for this year and the nineteenth since they were introduced in 2007.
Julia Grant was the country's First Lady while her husband Ulysses S. Grant served as the eighteenth President of the United States between 1869 and 1877. The collector coins honoring her are struck from [...]
In The Lead – Fed Tweets: Weak! Specs Tweet: Eek!
Precious metals prices were not spared the damage seen in other areas in the commodities' space this morning either. Spot gold traded in the first half-hour of the Thursday session in New York with a sizeable, $30.00+ (1.85%) per ounce loss in value.
The bid-side in gold was indicated at $1,517.70 per ounce shortly after the market's opening, when, just one day ago, the fact that bullion had managed to once again touch the $1,557 mark (a seven-week high) had actually increased the odds of it reaching for not only its previous highs near $1,577 but possibly as high as the $1,600- $1,630 area [...]
Ron Paul Hearing to Investigate U.S. Gold Reserves
Congressman Ron Paul of Texas has scheduled a hearing Thursday on legislation he introduced that would direct the Secretary of the Treasury to conduct an assay, inventory, and audit of all U.S. gold reserves -- much of which is held within United States Mint facilities, including an analysis of the measures taken for their security.
"The Treasury Department has been less than transparent with the results of its gold audits. It is asking the American people to trust that all the gold is there, while not allowing site visits and not publishing all the data it holds on its audits and assays," Paul said [...]
US Mint Cuts Proof American Platinum Eagle Price by $100
The United States Mint today reduced the 2011 Proof American Platinum Eagle price by $100. The Platinum Eagle launched on May 27 for $2,092.00. It is low listed for $1,992.00 on the Mint website at http://catalog.usmint.gov.
The United States Mint each Wednesday will calculate changes in precious metals over the previous seven days and, if necessary, adjust the price of its collector coins composed of gold or platinum [...]
Gold Prices Top $1,550; Silver Advances 1%; Bullion Coins Rise
Gold prices advanced above $1,550 an ounce on Wednesday, extending a consecutive winning streak to seven sessions. The yellow metal has jumped $37.80 since June 13 and reached a seven-week high despite strength in the U.S. dollar.
August gold prices settled up $7.00, or 0.5 percent, to $1,553.40 an ounce on the Comex in New York. The metal moved from a low of $1,542.00 to a high of $1,559.30 -- its best level since May 2 [...]
US Mint Sales: Olympic National Park Quarters Debut
Collectors were tighter with their money last week, according to the latest US Mint sales figures. Week-over-week product gains trimmed to 20 versus 61 from the previous report -- although pick-ups and losses stayed within a very narrow range.
Maintaining a trend that began with the launch of the America the Beautiful Quarters® Program in 2010, newer quarter bag and roll debut sales continue to retreat. The following table shows [...]
In The Lead – Fedsday Cometh! Plus, More Sci-Fi!
The largely sideways action continued to be manifest in the precious metals markets for a third session, ahead of the Fed's policy statement and Bernanke press conference due later today...
The midweek trading session in metals in New York opened with a firm... lack of conviction. Spot gold fell $2.20 to open at $1,545.00 the ounce, while silver lost 28 cents to start at $36.12 per ounce. Overnight lows were recorded at $1,540 and at $35.83 respectively. Still, the trading range in the yellow and the white metal was confined to less than $10 and to less than 75 cents ahead of "Fedsday." [...]
Gold Prices Rise for Sixth Day, Silver Advances 0.9%
Precious metals futures rose Tuesday. Gold prices advanced for a sixth straight day, again, opined analysts, supported by safe-haven buying due to Greek debt concerns. A weaker U.S. dollar also spurred appeal for the yellow metal.
August gold prices rose $4.40, or 0.3 percent, to settle at $1,546.40 an ounce on the Comex in New York. Prices ranged between $1,539.30 and $1,549.00 [...]
