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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

Posted in Expert Advice

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.

Continue reading

Posted in Expert Advice

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

Posted in Blog, Expert Advice

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

Posted in Expert Advice

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

Posted in Expert Advice

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

Posted in Expert Advice

The Swiss Gold Initiative & The Implications For The Gold Price

Switzerland’s central bank is warning of unstable price signals were the country to vote to require the bank to keep a minimum amount of gold in its vaults

The Swiss Initiative, “Save Our Swiss Gold” would be a  “fatal error of judgment,” Thomas Jordan, president of the Swiss National Bank .

The Swiss will vote November 30 to make the Swiss National Bank hold a fifth of its assets in gold, a level it needs to meet within five years. The SNB currently has assets of about $550 billion. Continue reading

Posted in Blog, Expert Advice

UBS Settles Silver Manipulation Suits

Intrinsic currencies like gold and silver, for example, are acceptable without a 3rd party guarantee.  – Alan Greenspan, (LINK)

The Financial Times is reporting that UBS has agreed to settle charges against it by the UK’s Financial Conduct Authority that it engaged in the manipulation of the gold and silver markets.  While it may come as a surprise to chart wranglers like Trader Dan or interminably hot air windbags like Dennis Gartman and Martin Armstrong that gold and silver are manipulated by the big bullion banks, UBS has de facto admitted to such illegal activity. Continue reading

Posted in Expert Advice

Is The Gold Market Remaining Low?

Gold is a long-term store of value and these recent weeks have shown that.

Gold bullion is down 5 percent in one week. It has fallen below $1,180 which many people viewed as an important resistance level.  Gold futures has support at that level, a four-year low, but it’s fallen below that.  Some say we are seeing the end of the gold market collapse. Mark Down is one. Continue reading

Posted in Blog, Expert Advice

JP Morgan Not Exiting Physical Commodities

JPMorgan Chase (NYSE:JPM), which completed the sale of its physical commodities unit Swiss trader Mercuria for $800 million last month, says is not leaving the business and plans to continue financing metals and crude oil, FT.com reports (subs. required). Continue reading

Posted in Expert Advice
World Spot Prices
(Updates Every 30 Seconds)
0.83

Gold

Bid: $1,502.98
Ask: $1,503.98
0.08

Silver

Bid: $17.90
Ask: $18.00
-17.89

Platinum

Bid: $939.85
Ask: $944.85