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Gold Down 2.4 Percent

by CoinNews.net on January 16, 2008 · 1 comment

Gold reached a new record peak just yesterday at $916.10 on the New York Mercantile Exchange (NYMEX). Today, corrections appear to be in order. Profit taking came into the mix after the dollar gained strength against the euro and oil prices declined. Many analyst had indeed forecasted corrections occurring shortly after gold went above $900 […]

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Driven by investors, gold has climbed to its latest record of $876.40 an ounce or more than $7 above last week’s historic high of $869.05. Spurring gold was a softening of the US dollar as investors weighed in the likelihood of the Federal Reserve cutting interest rates at the their Jan. 30 meeting. China is […]

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Gold climbed to its newest 28 year high Monday, November 5. It reached $814.20 on the New York Mercantile Exchange and finally settled to $810.80 an ounce. In reaction and as CoinNews.net analyzed and then predicted Friday, Nov. 2, the United States Mint halted Uncirculated Gold American Eagles sales once again. Similar to their very […]

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Gold hit two thresholds today, November 2, making it a popular topic of interest across major news outlets. One threshold was closing above $800. The other was a new 28 year high. For a time, gold actually hit $810.70 on the New York Mercantile Exchange. It finally closed at $808.50 an ounce. Speculation is abound, […]

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Since many coins contain a precious metal, we expanded our website to include charts and spot prices of silver, gold and platinum (found here). In doing so, I was reminded of a common misconception many people have regarding the system of weight for precious metals. Many think an ounce of gold is the same “weight” […]

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