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Could Russia back its currency with gold?

ussia’s government could still be pushed into using its gold reserves to bolster the falling ruble, currency experts have forecast.
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Thin Holiday Market & Gold Thefts In Ukraine

With thin trading, the gold price continues to experience weakness, offering a great time to buy. Unless you’re buying fake gold, like what happened to the Ukraine central bank…

Gold fell over 1 percent and silver fell 3 percent on Monday. The market is thin pre-holiday dealing which can lead to declining prices.  Oil prices moved once more towards $55 per barrel. Continue reading

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Gold Falls After Fed Pledges To Keep Rates Low

The Federal Reserve did not change much in its statement about raising interest rates, which caused gold to fall imediately upon Janet Yellen’s remarks.  Before that juncture, gold had been flat.

The Fed hinted that rates will remain near zero for a “considerable time” in its statement, a move investors see as being positive for gold. Continue reading

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Oil Is Down By 50% In Six Months

With the price of oil falling by 50% in six months, there is a lot of confusion in the air. Today the price of oil is under $56 and many wonder if it will fall below $40. Newscasters have suggested that perhaps oil producing nations get together and control the price of oil.

The summer high for oil was $107, but it is now lower than it was at any time since the spring of 2009.

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Gold Futures Reach Six Week High

Gold futures have jumped to a six week high due to declines in equity markets. On Tuesday over $100 billion was wiped from world equity markets with global shares falling again today. Gold extended gains against the dollar, which experienced its worse loss in a month against a basket of ten currencies. Continue reading

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2015 American Eagle Silver Bullion Coins Available January 12

The United States has been rationing Silver Eagles for a couple of months ago, and now it is likely to be continued through the rest of 2014. It will also apply when 2015 coins debut.

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The Differences Between Numismatic and Bullion Coins

With precious metals prices as they are many people are feeling very down about their investment. Increasingly I am getting the question “what is the difference between a bullion and a numismatic coin?”

This is a great questions and while many in the precious metals sector implore people to either buy strictly numismatic or strictly bullion, the truth is, as with any investment, strategic diversification is key. Continue reading

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Support For Swiss Gold Initiative Falls

It could be big news for gold if the Swiss vote for their central bank to hold more gold. But this seems increasingly to be an unlikely result.

The Swiss Initiative would force the country’s central bank to increase its gold holdings but, according to a new poll released today, support for the measure is falling. Both gold and the swiss franc have fallen on the news.

The poll, conducted by gfs.bern group, demonstrates 38% of respondents favor the so-called Save Our Swiss Gold initiative, which is down from 44% in an earlier poll. 47% of respondents claimed they were against the initiative, an increase from the prior 39%. Continue reading

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Putin Is Buying Gold

Russian President Vladimir Putin is buying gold.

It is using its income from petrodollars and diversifying its reserves with “massive amounts of gold,” according to William Rhind, CEO of the World Gold Trust Services.

Among all the central banks that make their reserve actions public, Russia has been “the largest, most active” gold buyer.  Rhind said “the elephant in the room” is how much gold China buys. Continue reading

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Gold and Silver Slump On Dollar Strength

Gold futures fell from this month’s high as the dollar’s rebound crimped demand for precious metals as alternative investments. Silver dropped the most in a week.

In the week ended Nov. 11, the net-long position in Comex gold futures and options fell 14 percent, government data showed showed on Nov. 14. Holdings tumbled 49 percent over three weeks, the most since December. Assets inexchange-traded products backed by the metal extended a slump to the lowest since May 2009, data compiled by Bloomberg show. Continue reading

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World Spot Prices
(Updates Every 30 Seconds)
11.96

Gold

Bid: $1,731.63
Ask: $1,732.63
0.46

Silver

Bid: $17.86
Ask: $17.96
-1.89

Platinum

Bid: $834.23
Ask: $839.23