Tag: gold news

Gold Investors Weekly Review – January 3d

Gold Investors Weekly Review – January 3d

In his weekly market review, Frank Holmes of the USFunds.com nicely summarizes for gold investors this week’s strengths, weaknesses, opportunities and threats in the gold market. The price of the yellow metal went lower after two consecutive weeks of gains. Gold closed the week at $1,236.90, up $23.55 per ounce (1.94%). The NYSE Arca Gold Miners Index went 3.17% higher on the week.

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Global Gold Newsflash: Illinois To Start Tracking Gold Transactions

| January 13, 2013 | Articles: General

Last year the Illinois senate passed the “Precious Metal Purchasing Act.” It is likely just a matter of time until the act is approved. In essence, the bill obliges persons in the business of purchasing precious metals to obtain proof of ownership, create a record of sale and verify the identity of the seller. All payments have to be carried out electronically. Furthermore, all collected information has to be reported to the local law enforcement agency. At Global Gold, we have been warning for a while now about possible financial repression and confiscation measures by western governments. Read tips on how to protect your assets in case of a random confiscation.

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US Mint Bullion Coin Sales

| January 5, 2013 | Articles: General
US Mint Bullion Coin Sales

The charts in this essay superimpose these coin sales over the daily gold and silver price action over the course of their entire secular bulls. Despite the perception of 2012 being a weak year for the precious metals, new physical demand from investors for American Eagles is actually robust to strong. This is certainly a bullish omen.

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Gold vs Currencies: Another Year of Evidence

Gold vs Currencies: Another Year of Evidence

An excellent overview was published by GoldSilver.com showing the 2012 performance of almost all currencies in the world against gold. In a detailed article, 164 fiat currencies were analyzed against the precious metals. Big surprise, 94% of all fiat currencies lost purchasing power to gold. The rare currencies that did not lose value compared to gold, did so with a minor percentage difference.

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Beware This New Paper Gold Scam

| December 6, 2012 | Articles: General

The regulator in the commodites markets (the CFTC) published a press release on December 5th, pointing to several companies that are involved with paper gold scams. The firms are accused to pretend to sell physical metals, but in reality the transactions do not involved real bullion. That’s a case of pure paper gold scam. This is how the CFTC described the practice in their press release: The complaint further alleges that these statements were false, and that the defendants do not purchase any physical metals, arrange loans for their customers to purchase physical metals, or arrange for storage of physical metals for any customers participating in their retail commodity transactions. […]

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Gold & Silver Eagles Top Performers in November 2012

| December 2, 2012 | Articles: General
Gold & Silver Eagles Top Performers in November 2012

November has seen very strong sales in American Eagles, both gold and silver coins. Reuters reported that “November sales of U.S. American Eagle gold coins are set to be the strongest in 14 years as uncertainty surrounding the U.S. fiscal crisis and the presidential election triggered safe-haven buying, dealers said.”  Reuters cites in the same article the opinion of one of the leading dealers in the US: “There is a huge influx of new high-net-worth individuals that are buying a lot of gold, and they are taking physical possession of it,” said David Beahm, vice president of Blanchard & Co, one of the largest U.S. retail coin and bullion dealers. We […]

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Gold Price Outlook Mostly Bullish – November 2012

In the past few days an increased number of commentaries appeared about the outlook of the gold price. Interestingly they differ in their subtlety and long term vision. What follows is an overview of the most important points of view, which we’ve selected to show the divergence. As we don’t want to come across as biased, we include both bearish and bullish outlooks. We believe that the bullish ones are fundamentally better argued. They are closer to the long term vision of Gold Silver Worlds. Citigroup believes that the commodities supercycle is over as China’s economy shifts to slower growth and supplies increase. Although they don’t specify their gold outlook, our […]

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Importers of Gold Digesting Higher Prices with Sentiment Driven by Fiscal Cliff

Spot market gold prices hovered just below $1738 an ounce Monday morning in London, close to three-week highs, while stocks and commodities were broadly flat and the Euro traded near two-month lows against the Dollar, as the US and Greece both contemplated upcoming fiscal difficulties. Silver prices traded around $32.70 an ounce, also near three-week highs. Bullion importers in India, meantime, which sees the celebration of Diwali tomorrow, slowed their purchases of gold Friday as the Rupee weakened and gold prices rose, newswire Reuters reports. “Jewelry makers may have to wait before they come back to buy again,” says one physical bullion dealer in Hong Kong. “People are digesting the rebound in prices.” “Worries about the […]

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Gold & Silver Today – November 7th

| November 7, 2012 | Articles: General

Our selection of today’s gold and silver news: Gold Daily and Silver Weekly Charts – Good To Be Back Home Again Source: Jesse’s Crossroads Cafe | 2012-11-07 Gold, shares gain, dollar slips after Obama victory Source: SGT Report | 2012-11-07 Charteris: Silver to Rise 500%, Gold to Hit $2,500 in 2015 Source: SGT Report | 2012-11-07 Hathaway: Gold Setup To Super-Surge To New All-Time Highs Source: King World News | 2012-11-07 Obama Wins; Gold And Silver Jump 2 and 3 Percent Source: Gold Core | 2012-11-07 GATA’s clamor reaches an ever-wider circle of the gold universe Source: GATA | 2012-11-07 Richard Russell – I See Catastrophic Insane Bubbles Everywhere Source: […]

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Gold & Silver Rise as China’s Long-Term Demand Forecast to Keep Growing

Wholesale prices to buy gold rose to 7-session highs in London on Thursday morning, touching $1726 per ounce even as new data showed US employment rising at its fastest pace since February. The private-sector ADP payrolls report said the US added 158,000 jobs in October. Earlier data from the manufacturing sector in China, the world’s #2 gold consumer, showed its slowdown to be easing. However, “Over 17% of survey respondents reported a fall in the volume of new export orders,” said the new Purchasing Managing Index report from HSBC/Markit Economics, “and just under 10% noted an increase.” Two-thirds of Chinese businesses reporting quarterly results to the stock market have seen a […]

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Gold Prices Rally After US GDP, But Still Record Third Straight Weekly Loss

Gold Prices hovered above $1700 per ounce throughout Friday morning in London, after yesterday’s rally reversed overnight, while European stock markets traded lower this morning following losses in Asia, ahead of the release of US GDP data later today. “The trend remains bearish so long as gold trades below $1723,” says the latest note from Scotiabank technical analyst Russell Browne. “People are still looking a bit at the downside rather than the upside for the time being, waiting for it to break $1700,” adds Ronald Leung, director at Lee Cheong Gold Dealers in Hong Kong. Silver Prices traded just above $31.70 per ounce for most of the morning, 1.2% down […]

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Monetary Policy Pause sees Gold Fall through $1710

Monetary Policy Pause sees Gold Fall through $1710

Gold Bullion fell below $1710 per ounce ahead of Tuesday’s US session, its lowest level in over six weeks, as stocks and commodities also fell and the Dollar rallied, with two weeks to go until the US presidential election. Silver Bullion fell through $32 an ounce to hits its lowest level since the first week of September. “You’ve had QE priced in and what we’re seeing now is a bit of a retracement following that,” says Daniel Brebner, analyst at Deutsche Bank, referring to last month’s Federal Reserve announcement of open-ended quantitative easing. “We have a pause in monetary policy action – it’s very unlikely we’re going to see anything in the […]

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Investors seeking allocated gold

Another weak day for gold and silver yesterday has continued during Asian and European trading today, with gold falling below $1,750 and silver once again trading under $32.50. Yesterday brought mixed economic news: one the hand, claims for unemployment benefits in America shot higher while corporate earnings from giants such as Google disappointed; but strength in the Philadelphia Fed’s manufacturing survey gave the bulls something to cheer about. The Dollar Index gained 0.40%, with the greenback also strengthening against a broad basket of emerging-market currencies, as that familiar “risk off” trading returned. Action in gold at the moment may be disappointing for some, who may have been expecting an endless […]

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China’s Demand to Buy Gold in Spotlight, Dollar-Gold Recovers and Euro-Gold Hits 6-Week Low

Prices to Buy Gold recovered an early dip in London on Wednesday morning, rising back to $1750 per ounce as European stock markets also rose and the single currency hit its best level in more than a month. Commodities were broadly flat but so-called “safe haven” government bond prices ticked lower as Spanish debt rose on expectations of a formal bail-out request. The Moodys rating agency last night confirmed Spain’s ranking above “junk” status. Madrid’s 10-year bond yields today eased to their lowest spread above comparable German debt in 6 months. “Gold and the precious complex have been held afloat overnight and this morning by a stronger Euro,” says UBS strategist Edel Tully in […]

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