Coin Info News
Gold and Silver Daily Market Update 02-02-12
Posted: 2012-02-02 13:50:42By Barry Stuppler GOLD Gold is still in rally mode and as of 11am PDT, is up $13.20, actively trading at $1,756.20 per ounce. The next minor resistance levels are at $1,765 and $1,780, with a major resistance level at $1,800 per ounce. The International Monetary Fund announced that Turkey added about 500,000 oz of gold to its reserves in the month of December which brings its grand total to 6.28 million ounces. Central banks adding gold to their reserves has been a trend that has gained momentum over the last 5 years and set a record high in 2011. SILVER This morning silver broke through the $34 per ounce resistance level and traded as high as $34.20 per ounce, before we saw some profit taking. Right now at ... read more
Gold and Silver Daily Market Update 02-01-12
Posted: 2012-02-01 13:07:57By Barry Stuppler GOLD Gold is continuing its fast paced increase that started in January (10.8%), the best January increase in 32 years. Today at 11am PST, gold is up $10.40, trading at $1,746.20 per ounce on with excellent volume. The World’s central banks have become net purchasers of gold bullion after many years being net sellers. In 2011 central banks purchased 430 tonnes of gold, five times more than in 2010, and the highest since 1964. Much of this new demand has come from ‘emerging markets' central banks like Mexico, Russia, Turkey, South Korea and of course China and India. SILVER Silver’s recent increase has outpaced Gold’s stellar performance. Today, Silver has increased another $0.29, trading at $33.85 per ounce at 11am PDT. For a brief time last night ... read more
Gold and Silver Daily Market Update 01-31-12
Posted: 2012-01-31 13:36:18By Barry Stuppler GOLD Wow, what a month for gold investors! Gold was up $170 per ounce, or (10.8%), trading at $1,735.80 at 11am PDT today with active volume. As for today, the market held a tight trading range, watching developments at the European debt crisis meeting. The mood in Europe brightened on Tuesday, with European Union political leaders agreeing in principle to a permanent 500-billion-euro bailout fund. The European Stability Mechanism (ESM) is a fiscal compact that requires governments to take corrective actions when budget deficits stray from targets. Elsewhere in the region, Greek Prime Minister Lucas Papademos said "significant progress" has been made and that a deal between the government and its creditors could be reached by the end of the week. SILVER The silver price increase for January ... read more
Gold and Silver Daily Market Update 01-30-12
Posted: 2012-01-30 13:19:32By Barry Stuppler GOLD Gold trading is virtually unchanged, down $0.60 per ounce at 11am PDT, trading at $1,732.40 per ounce. Gold reached its highest price in more than seven weeks last Friday. Investors awaited the outcome of Greece's debt deal talks, but slower-than-expected GDP growth within the United States was a minor negative. Gold also got a boost from reports the world's biggest hedge fund. Bridgewater Associates ($120 Billion) is bullish on bullion as a hedge against inflation as governments print more money to reduce debt. EU leaders will sign off on a permanent rescue fund for the euro zone at the EU Summit today. They are also expected to agree on a balanced budget rule in national legislation, but unresolved problems in Greece could derail those discussions. Last ... read more
Gold and Silver Daily Market Update 01-27-12
Posted: 2012-01-27 13:28:30By Barry Stuppler GOLD In the wake of the Fed’s policy changes on Wednesday, when the Fed indicated that interest rates were going to be held down until late 2014, inflation would not breach 2% but long term rates could climb to 4% or more, gold bolted through $1,700 and quite rightly. And this was not U.S. gold buying as the gold ETF's did not change that much. Right now the primary gold buying is coming from Asia, Europe and the Middle East. Gold is up again today, and at 11am PDT it is trading at $1,733 per ounce, up $8.30 per ounce on average weekend volume. SILVER Silver continues to be stronger than gold and better demand. At 11am PDT, Silver is up $0.30, trading at $33.92 per ... read more
Gold and Silver Daily Market Update 01-26-12
Posted: 2012-01-26 13:19:46Gold and Silver Daily Market Update 01-26-12 By Barry Stuppler GOLD Federal Reserve Chairman Ben Bernanke said on Wednesday the U.S. central bank was ready to offer the economy additional stimulus after it announced it was likely to keep interest rates near zero until at least late 2014. Wow, what a bullish development for gold and silver owners. The major bull run for Gold and Silver continues with the next resistance level for gold being $1,800 per ounce. At 11am PDT, Gold is up $23.50 per ounce, trading at $1,724.70 on very active volume. SILVER Silver has made a major breakout when it went above $30 and is now heading for the next resistance price level of $35. If you look at last year of silver price performance you’ll ... read more
Quote of the Day 01-26-12
Posted: 2012-01-25 15:25:49The human body has two ends on it: one to create with and one to sit on. Sometimes people get their ends reversed. When this happens they need a kick in the seat of the pants. Theodore Roosevelt ... read more
Gold and Silver Daily Market Update 01-25-12
Posted: 2012-01-25 13:42:34Gold and Silver Daily Market Update 01-25-12 By Barry Stuppler GOLD There’s surprising news from the U.S. Federal Reserve. Interest rates are going to be kept at zero to ¼ percent until late 2014 and in turn, caused gold to rally above $1,700 per ounce. Low interest rates and the high possibility of addition Federal Reserve and European Central Bank monetary stimulus (QE) are very bullish for the price of gold and silver. At 11am PDT, Gold is trading at $1,701.20, up $32.60 per ounce on heavy volume of trading. SILVER Silver was a bigger beneficiary of the Federal Reserve announcement. Rallying $1.00 on the news and at 11am PDT, silver is trading at $33.09, up $1.02 per ounce from yesterday’s close on heavy volume. The demand for American Silver ... read more
