Coin Collecting News
Overnight Monday in the US, during Tuesday Asian and European market trading, the price of gold reached an all-time peak of $1,917 and silver topped $44. Then, the bottom fell out of both prices. The timing of the drop was predictable. The COMEX silver options expired Thursday. Had the price of silver closed yesterday much [...]
Although gold and silver prices have risen significantly in the past week, it is possible that they may soar in the coming weeks. Here are four developments given inadequate news coverage by the mainstream media that could spark skyrocketing prices. First, using the M2 definition, the Federal Reserve’s latest weekly report of the US money [...]
With the surge in gold prices over the past week or so and a lackluster silver price, what have people been actually buying and selling in physical gold and silver products? My own companies serve three customer niches. First, we buy and sell rare coins with collectors. Second, we buy and sell bullion-priced gold, silver, [...]
In all the political wrangling in Washington about raising the debt ceiling to authorize borrowing an additional $2+ trillion, there was absolutely no discussion about where will the US government find a creditor who will loan these funds! Most of the funds for the Quantitative Easing 2 program from November 2010 through June 2011 were [...]
The COMEX August gold options expired Tuesday this week. At the COMEX close that day, there were 18,900 open call contracts giving the owner the option to purchase a 100 ounce gold bar at a strike price of $1,600 per ounce. Since the price of gold closed well above that price at the COMEX close [...]
Europe’s financial problems are so dire that last Friday Herman Van Rompuy, the president of the European Council, called a meeting to be held in Brussels on July 21. Instead of the typical attendance by representatives or maybe even finance ministers, he directed that all heads of state of the European Union attend. He said, [...]
The decision to own gold or silver usually involves more than simply making a decision to diversify an investment portfolio or to choose assets with a long-term positive track record. For a lot of people, the choice to own gold or silver signifies taking responsibility for one’s financial well-being instead of depending on the competence [...]
As I have repeatedly described, the monthly Bureau of Labor Statistics report on Non-Farm Payrolls (http://www.bls.gov/news.release/pdf/empsit.pdf) is highly misleading. The latest version released today is a perfect example of what I mean. The first sentence of the first paragraph contains the statistics that gained the widest publicity. The first paragraph starts with, “Nonfarm payroll employment [...]
As reported by Bloomberg two days ago, the British Serious Fraud Office has started an investigation into the marketing practices of the Exchange Traded Fund (ETF) markets. Although there are a large number of ETFs that cover a wide variety of markets, the gold and silver ETFs exert significant influence in the precious metals markets. [...]
Will Gold Top $2,000 By The End Of September?
After reviewing some fresh developments, I think there is more than a 50% probability that gold will surpass $2,000 by the end of September. Here are some of my most recent thoughts. Germany has been plundered for hundreds of billions of Euros to bail out the weak nations in the Euro sphere. Between the German [...]