United Coin and Precious Metals 2/18 Buy Or Sell Gold And Silver In San Diego, CA

Germans Are Buying Gold, Fearing Another Weimaresque Hyperinflation

Germans are buying gold at a frantic pace because they are worried about the future.

According to the World Gold Council, in a report released Thursday, demand for gold bar and coins increased 20% in Germany during the first quarter, compared to a year prior. Continue reading

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Gold Futures Highest Level Since April

Gold futures reached their highest settlement in more than five weeks thanks to worse than anticipated US retail sales which helped pressure the dollar downwards and raised expectations that the Federal Reserve will push back interest-rate hike plans. Continue reading

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The Economist Publishes Hit Piece On Gold

The Economist recently published a big hit article on the gold market, misleading the reader about why one buys gold and what its uses are. Moreover, the article does little to truly examine the pre-1933 gold market, which United Coin & Precious Metals specializes in, and discuss its art-type aspects and otherwise. Continue reading

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5 Ways To Buy Gold In San Diego, Online & Otherwise

Gold has been on the tips of many people’s tongues for awhile now due to the likelihood that, in the coming years, the Fed will raise its interest rate. Gold has become less attractive to many as an investment in recent years, though, due to the relatively stable economic outlook, a rising stock market and low inflation. Many experts believe this will change in due time.

Gold has been around $1,200 for quite awhile now.

1. You can buy gold in yen or euros, with two exchange traded funds (ETFs) enabling you to invest in gold . GYEN and GEUR are available from the Advisor Shares Gartman ETFs listed on the NYSE that allow you to trade gold against the two currencies. This is a highly risky means of buying coins and is really warned against here at UCPM due to the paper base of the assets. This is not real gold.

2. Buying gold in dollars is not hard as well, with the easiest way to buy or sell the price of gold in dollars being the  SPDR Gold Trust, GLD, which represents the largest of these ETFs available on the NYSE. The shares trade based on the price of gold bullion. There are also “leveraged” gold ETFs, which magnify gains and losses. This is a highly risky form of buying gold and many people lose significant money doing this.

3. Gold stocks or mutual funds mean many publicly traded gold mining companies. This is a good way of holding stake in the gold market, with less risk than GLD and other funds.

4. Coin store. Governments mint coins and that is why investors have the option to buy gold coins in their own neighborhood. You can walk into a coin store during regular business hours and buy your coins. That is what United Coin & Precious Metals does, serving the San Diego, Calif. and La Jolla.

5. Online buying. You can also, instead of going to your local store, buy coins online. You can compare prices and get digitized customer service. Of course you have to wait to get your coins.

United Coin & Precious Metals recommends option four, due to its transparency and the ability of the customer to walk out the door same day with the metals. It is not common in San Diego County for this to be the case. But at UCPM…It is.

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Russia, China Buying Gold And So Should You!

The IMF still holds the uS as the largest gold holder by a wide-margin. These self-reported numbers are not too reliable as countries have incentives to under report or over report gold reserves.

China is believed to have under-reported gold reserves, and many analysts have written about vast gold reserves growing in the nations.

Russia receives less attention in the precious metals arena but that is because it is a smaller economic power than China.  Nonetheless, the Russian central bank has recently announced that is purchased 30 tons of gold in March with IMF statistics currently placing Russia as the 5th largest gold reserve. But, do we know its true reserves? Many claim no. Continue reading

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Gold Eagles Sales Down But Fundamentals Remain

Although sales of American Gold Eagles fell, the price of gold has been on a tear in recent months and weeks as stock market questions remain and global geopolitical instability puts in questions Europe, Russia, Japan, China and the US. Few have been immune to question regarding market health and gold has long been a safehaven.

Some analysts are today calling art and real estate has stores of value but if instability continues to rock markets investors will soon see the truth: physical gold bullion is the way to go.

As Reuters writes:

NEW YORK, April 30 (Reuters) - The U.S. Mint's sales of America Eagle gold
coins in April fell 37 percent from March, while 2015 sales so far have dropped
for the second straight year, government data showed on Thursday.
The Mint said it sold 29,500 ounces of American Eagle gold coins in April,
down from the 46,500 ounces in March but still well above the 18,500 ounces in
February.
Sales for the first four months of the year have reached 175,500 ounces,
down 3.6 percent from the first four months of 2014 as traders waited to see if
the U.S. Federal Reserve will raise interest rates, something that would
pressure bullion prices.

(in ounces)
Gold Silver Platinum
2015 2014 2015 2014 2015
January 81,000 91,500 5,530,000 4,775,000 0
February 18,500 31,000 3,022,000 3,750,000 0
March 46,500 21,000 3,519,000 5,354,000 0
April 29,500 38,500 2,851,500 3,569,000 0
YTD Total 175,500 182,000 14,922,500 17,448,000 0

(Reporting by Marcy Nicholson; Editing by Marguerita Choy)

It is important to understand that consumer demand is hardly a good show of strength for the gold market, as the same fundamentals which led for it to run from $350 to $1920 still exists.

The main difference this time around, of course, will be that the gold take off point will be much higher.

At United CPM we are keeping a close eye on these markets and look forward to truly one day serving you.

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“Gold Is A Live Market Right Now” Says HSBC Analyst

The gold market is certainly a live market right now, with two up-days in a row contributing to the feeling around the markets that things could begin to change in the coming months for the precious metals markets. Continue reading

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Gold Price Increases On Technical Buying

With gold prices climbing Monday afternoon, gold investors can take solace in the yellow metal reaching the $1200 handle, which is the highest gold price in nearly one entire week. World stock markets continue to hit all the time with news that Greece is working on bailout terms.

Yaris Varoufakis tweeted this week that he welcomed “hatred” from the Eurozone partners, calling him “amateur” and “time waster”. He was demoted from chief co-ordinator for foreign minister Euclid Tsakalotos, which was bullish for european markets. Continue reading

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Uncertified Gold Low Premiums Offer Investors Opportunity Of A Lifetime

The following chart uses an annual premium taken in January of each year, with the high and low premium taken from that 13 year span. Continue reading

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China’s Secret Gold Holdings Increasing, Says Bloomberg

With The People’s Bank of China having tripled its gold stockpile since April 2009, the Bloomberg Intelligence estimates the nation’s gold stockpile to be 3,510 metric tonnes, second only to the United States’ 8,133.5 tons.

That figure is nearly triple the 1,054 tons of gold the nation reported in 2009, and was calculated based on trade data, domestic output and China Gold Association figures.

Analysts believes China has acquired gold to make the yuan a more competitive option against the US dollar.

The People’s Bank of China Governor Zhou Xiaochuan made it his unspoken mission to turn the yuan into a globally competitive currency, as well an IMF reserve currency. China has thus implemented numerous economic reforms.

The Dollar is the most popular reserve currency. It accounts for 63 percent of world central bank holdings, with the euro coming in second at 22 percent.

The yuan was the seventh most used currency worldwide in SWIFT payments. As GoldSeek writes,

Enter the Dragon. China’s push to challenge U.S. dominance as the global economic superpower and to challenge the dollar as a global reserve currency involves gold – “a lot of gold.”

China may soon make public that it has quietly accumulated a massive hoard of gold in recent years. This was done in order to bolster their bid to have the yuan included in the basket of currencies that make up the IMF’s Special Drawing Rights (SDRs) according to an article by Bloomberg.

This is something Jim Rickards, ourselves and many analysts in the gold sector have said would happen for some time. The People’s Bank of China’s (PBOC) quiet ongoing accumulation of gold is something we frequently cover as we believe it is an important demand factor in the market that is largely ignored by most analysts and in most coverage of the gold market.

 

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World Spot Prices
(Updates Every 30 Seconds)
-3.40

Gold

Bid: $1,837.77
Ask: $1,838.77
0.13

Silver

Bid: $24.19
Ask: $24.29
29.37

Platinum

Bid: $1,071.70
Ask: $1,076.70