Coin Info News
Gold and Silver Daily Market Update 05-24-13
Posted: 2013-05-24 12:20:02Source: MintStateGold.com By Barry Stuppler GOLD Gold calmed down on Friday in thin trading after yesterday’s $26 increase, as many of the world’s major stock markets stabilized, slowing Gold’s rally. Today, Gold traded in a tight $14 price range from $1,384 to $1,398 per ounce. Gold (the safe haven investment) was rallied by a drop in stocks late this week, which Thursday in Europe had posted their biggest one-day fall in nearly a year. At 11am PDT today, Gold is down $3 per ounce, trading at $1,388 per ounce on light volume. SILVER Silver also traded on light volume today in a tight $0.37 price range. The low/high for Silver today was $22.32/$22.69 per ounce. At 11am PDT today, Silver is trading at $22.51, down $0.11 per ounce on very light volume. ... read more
Gold and Silver Daily Market Update 05-23-13
Posted: 2013-05-23 13:12:03Source: MintStateGold.com By Barry Stuppler GOLD Gold rallied today based on the U.S. Dollar falling against the Japanese Yen. Adding to the demand for Gold was the plunge in the Tokyo Stock Market. The volatility in the Gold market continues, as the trading range was over $40 per ounce, with Gold reaching $1,356 per ounce before rallying. Today in the global bullion markets we saw that Gold is the ultimate safe haven investment, as concerns about Japan and China’s economic problems drove investors to Gold. At 11am PDT today, Gold is trading at $1,391 per ounce, up $26 on heavy volume. SILVER Silver seems to be caught up in a narrow short term trading range between $22 and $23 per ounce waiting for direction from the Gold market. Although the Silver price ... read more
Gold and Silver Daily Market Update 05-22-13
Posted: 2013-05-22 12:25:28Source: MintStateGold.com By Barry Stuppler GOLD The Gold price took a roller-coaster ride today, first jumping to $1,413.30 per ounce when Bernanke told the Joint Economic Committee of Congress that an end to the current quantitative easing (QE) program could mean a “substantial risk of slowing or ending the economic recovery and causing inflation to fall further.” He said the labor market has improved but “remains weak overall.” Then Gold sold down to $1,368 when during the question and answer period, his remarks were construed to mean policymakers conceivably could begin withdrawing some of their monetary accommodation in the coming months. I was disappointed that the Gold price did not stay above the important $1,400 per ounce level and went negative by the end of the trading session. Today’s trading ... read more
Gold and Silver Daily Market Update 05-21-13
Posted: 2013-05-21 13:08:21Source: MintStateGold.com By Barry Stuppler GOLD Yesterday Moody's Investor Service reported in a news wire around noon ET that U.S. policymakers must do something about the government debt to avoid a U.S. debt rating downgrade this year. This was one of the contributing factors to yesterday’s Gold rally to $1,385 per ounce, after hitting a low of $1,336 per ounce in Asia earlier. Yesterday we saw an inner-day reversal which is a very bullish technical indicator that occurs during a downtrend when Gold opens below the previous day’s close, making a fresh low, and then closing higher than the previous day’s high. This morning Gold briefly broke above the important resistance $1,400 per ounce level and was quickly sold off, hitting a low of $1,359. $1,400 per ounce is a ... read more
Implications of Extreme Gold, Silver Price Volatility
Posted: 2013-05-21 12:25:20By Patrick Heller - May 21, 2013 A man who attended a financial conference earlier this year told me that the famous speaker began his presentation by asking the audience how many thought that the price of gold had peaked. He was stunned that almost everyone other than him raised their hands. In contrast, I have repeatedly expressed in my writings, interviews, speeches, and radio programs that the world’s financial problems that are the reasons why gold and silver prices have risen steadily for more than 12 years have not been resolved or cured. Therefore, in my judgment, prices of precious metals are due to continue rising for the foreseeable future. I try to make my explanations straightforward and easy to understand. As a result, I am rarely ... read more
Gold and Silver Daily Market Update 05-20-13
Posted: 2013-05-20 13:12:52Source: MintStateGold.com By Barry Stuppler GOLD Today we saw a very bullish super reversal day, as Gold hit a low of $1,336 and quickly rallied on very heavy volume to reach $1,397 per ounce. This is a very positive sign that Gold has reversed it short term price direction and is now heading higher. Today we also saw any increase in hedge funds buying Gold. At 11am PDT Gold is trading at $1,385 per ounce, up $21 per ounce on very heavy volume. SILVER This morning we saw sizeable volatility in the Silver price, reaching an unbelievable 3 year low of $20.25 per ounce in Asia, before reversing direction (along with Gold), and rallying to a high of $23.24 per ounce on very strong demand. At 11am PDT today, Silver is up $0.35 ... read more
Crime Alert: Coin Shop Armed Robbery by Man In UPS Uniform
Posted: 2013-05-23 09:44:40Suspect Has Been CAUGHT! This suspect posed as a UPS Delivery person. He held up the store manager at J&J Coins in Hammond, IN at gun point with a sawed off shotgun concealed inside a UPS box. The robber was equipped with a police scanner and zipped tied the employee's feet and hands. He was said to have been in the store for over an hour. Below is a List of Items stolen: 500+ DWT in 14k Yellow Gold Rope Chains, 1.8oz Solid Gold Nugget, Early 80’s Rolex GMT 2 Black dial and two-tone oyster band, (3) Graded 1937 D 3-Legged Buffalo nickels, Ulysse Nardine Mens Yellow gold case with leather band butterfly clasp, 14k Yellow Gold 30” Rope Chain w/ 14k Yellow gold nugget style Jewelers Loupe, Graded 1889 ... read more
Silver surges 6.8% from lows after slammed 10% lower
Posted: 2013-05-20 10:21:17Source: Resource Investor - May 20, 2013 Silver fell victim to heavy, concentrated selling overnight in thin, illiquid Asian trading. Silver was slammed 10% and fell from $22.36/oz to $20.30/oz in just four minutes — from 23:05 GMT to 23:09 GMT. Silver has recovered 7% of the price plummet and is now at $22.60 an ounce. Silver’s weakness may have contributed to gold falling 1% to $1,354/oz. Gold has since rebounded to $1385 It is likely that the very aggressive selling in illiquid Asian markets overnight was by a large hedge fund or bank or a combination of hedge funds and banks with deep pockets. Reuters quoted an analyst at a Japanese bank who said that silver’s price falls were due to one “unidentified investor.” Heavy concentrated selling likely led to stop ... read more
