Archive for the ‘Precious Metals News’ Category:

Gold tops $1,600, rises more than 2%, Silver hops nearly 6% on U.S. manufacturing data

SAN FRANCISCO (MarketWatch) — Gold futures were back at $1,600 an ounce on Tuesday, rebounding from a weak December with aplomb amid rallying oil futures and a weaker dollar.

Gold for February delivery /quotes/zigman/656382 GC2G +2.50% rose $35.80, or 2.2%, to trade at $1,602.70 an ounce on the Comex division of the New York Mercantile Exchange. It traded as high as $1,608.70 an ounce earlier.

Silver Over $50 Coming Sooner Than You Think

Since my last silver article on Seeking Alpha, I have been overwhelmed with emails requesting an update. In the article I suggested that we were nearing a bottom for silver before it begins a parabolic rally. I noted that if silver broke below the recent 29.90 support level in the futures, then the most likely bottom for silver would be the $26 region, with the potential to drop even as low as the 22.50 region. So, let’s see if that analysis is still applicable at this time.

Recent Price Drop Creates Best Speculative Buying Opportunity On Gold In Years

“None of the fundamental factors have changed. The world still has too much debt and there is no way this debt can be repaid; moreover, the monetary authorities of the world continue to signal that their bias is inflationary (see the recent comments from the Bank of International Settlements as an example). In the United States, M2 money supply continues to rise.”

Lehman II in Progress as Financial System Implodes

With growing fears about the European banking system, today King World News interviewed James Turk out of Spain to get his take on the situation. When asked about the ongoing crisis, Turk responded, “For a few months now I have been worrying that there would be another Lehman moment and have been expecting it before year-end. I said the failure of Dexia was not the event, and initially I thought MF Global was not big enough to cause it either. But, Eric, it is now becoming clear that the ramifications of MF Global are earth shaking, and consequently, I think we are already in another Lehman moment.”

Physical Silver Shortage Alert!

If Silver Goes Down All Hell Will Break Loose In The Physical Market….
Read more here: http://www.prnewswire.com/news-releases/physical-silver-shortage-alert-135434003.html

This video has some great information on Silver and the potential for a big shortage in the future. I am not sure who the company that made the video is however they included good info. If you’re interested in buying/selling or just learning more about Silver feel free to call us.
Owner of Commercial Rare Coins LLC
Brian Kuszmar

What you need to know about China and gold

In 2008, China surprised the market by announcing that the People’s Bank of China had doubled its gold reserves in the past five years to 1054 tones….

More… http://www.commodityonline.com/news/what-you-need-to-know-about-china-and-gold-44255-3-1.html

Buying Silver Is Like Buying Gold At $554 Today

I think that buying silver today is like buying gold for $554 an ounce. Let me explain: As I am writing, silver is currently trading at about 65.2% (32.6/50) of its 1980 high. If gold was trading at 65.2% of its 1980 high, it would be trading at $554 (0.652*850).

More… http://news.silverseek.com/SilverSeek/1323354649.php

Here’s Why Goldman Sachs is Staying Long Gold

“On Monday, banking giant Goldman Sachs announced it is staying long gold. Due to low real interest rates, slower US economic growth, and rising debt, the bank has also raised its gold forecast for 2012.”

Read the full story here… http://wallstcheatsheet.com/trading/heres-why-goldman-sachs-is-staying-long-gold.html/

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