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Gold prices rose 0.5% this week despite a $19 loss on Friday which was triggered by a stronger than expected U.S. jobs report. Said report showed that the unemployment rate fell to 8.3% -- the lowest level since February 2009 -- from the 8.5% reading in December.
In closing Friday, gold prices declined 1.1% to $1,740.30 an ounce in the April futures contract on the Comex in New York. Prices traded as low as $1,726.20 and as high as $1,765.90 [...]
In what could end up being an about-face in government policy, new legislation was introduced in the United States Senate on January 31, 2012 seeking to replace paper dollar bills with $1 coins.
The proposed bipartisan bill is entitled the Currency Optimization, Innovation, and National Savings (COINS) Act, S. 2049, and was introduced by Senator Tom Harkin of Iowa and Senator John McCain of Arizona.
If passed and signed into law, the COINS Act would effectively serve as a reversal to the December 2011 order [...]
Spot gold dealings opened flat, near the $1,759 bid level but it then fell by $25 to near the $1,735 area shortly after the release of the jobs statistics and then the ISM services index and factory orders numbers this morning.
Recent advances (7.4% on the 30-day chart) in the value of the yellow metal had already prompted contrarian calls (based on the readings of gold newsletter sentiment data) for caution, and then some. So long as gold does not manage a close above the $1,803 area (according to EW analysis) the metal has the potential to turn lower after the current rally runs out of steam [...]
Teletrade, America's premier Internet auctioneer of certified coins and currency, is proud to announce the new Teletrade.com, launched February 2, 2012. The new website features a fresh look, easy navigation, and increased focus on our collectors' and consignors' needs.
In addition to the redesign Teletrade has also made several changes to the bidding structure, most notably, No Hidden Reserves -- all bidding will now open at the opening bid or one bid increment below the reserve to increase bidding transparency [...]
Gold reached a two-month high and advanced for a third straight session Thursday. Earlier in the day, Federal Reserve chairman Ben Bernanke reminded investors of the Fed's intentions to keep interest rates near zero until late 2014. Bernanke also noted that there were some signs of an improving U.S. economy but that there are difficult times ahead. His comments were taken as bullish for commodities.
Gold prices added $9.80, or 0.6%, to $1,759.30 an ounce in the April futures contract on the Comex in New York [...]
Demand for 22-karat American Gold Eagle bullion coins grew for a second straight month in January. The United States Mint reported sales of 127,000 ounces, marking a gain of 61,500 ounces, or 93.9%, over the previous month.
With that total, the month ranks as the fourth best January in the twenty-six year history of American Eagle program. It is also the highest monthly amount since January 2011 when 133,500 ounces were ordered [...]
Last month turned energetic for U.S. Mint sales of the American Silver Eagle bullion coin. Barely missing out as the best ever selling month, January now ranks second all-time for the series which dates back to 1986.
Buyers scooped up 6,107,000 Silver Eagles during the month. That was 315,000 away from matching the all-time monthly record of 6,422,000 set in January 2011 and a scant 350,000 away from equaling the combined monthly sales totals from December, November and October [...]
Gold advanced modestly Wednesday in kicking-off the first trading day in February. The increase marked a second straight day of gains and came on the heels of a weaker U.S. dollar.
Gold prices advanced $9.10, or 0.5%, to $1,749.50 an ounce in the April futures contract on the Comex in New York. Gold touched an intraday low of $1,735.40 and reached a high of $1,754.00 [...]
Collector buying activity remained mostly muted for a second straight week, the newest U.S. Mint sales figures show. American Eagles and five ounce silver uncirculated coins were among the few numismatic products to outperform their prior weekly sales.
For the Mint's biggest coins, America the Beautiful Five Ounce Silver Uncirculated Coins advanced 3,563 as a group compared to 2,931 previously. The only five ounce coin to record [...]
Several "best January starts since... " sentences were the material of financial headlines overnight. Tempting investors into the markets were sexy stories such as "Stocks Headed for Best January Since 1997" and "Stocks Best Start Since 1994 Better Than Commodities" right alongside other titles such as "Gold in Best Start to Year Since 1983." How can anyone resist and not follow the 'big guns' into the money-making pits when more than $3 trillion was being added to stock values (last month) for example?
Spot metals dealings opened higher across the board on Wednesday as the specs extended that which they successfully carried out in January for yet another session's worth. Gold opened near $1,745 with a roughly $7 gain per ounce while silver hovered near $33.80 posting a [...]
