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Gold, Silver, Metal Prices Commentary – June 30, 2010

June 30, 2010 by · Leave a Comment 

Bullion update ... Bombay Kept At Bay

Good Morning,

Quarterly performance tallies started to trickle in as the last trading day of the month got underway this morning. Commodities tabulated their worst quarter since late 2008/early 2009 as a 10% decline in the complex was affected by Chinese growth contraction fears and investor sentiment about the fate of the rest of the world’s economies. Gold posted a third-best showing with a 12% gain, right behind natural gas and coffee (which rose 20%).

Meanwhile, silver turned up in fourth place with a 6.5% appreciation percentage. What did not do well? Industrial metals, for the most part. Consider zinc’s 25% plunge, or nickel’s 23% fall. Bellwether copper fell 16% on the quarter and black gold dropped more than 9% since the end of March. Bad as the quarter was for commodities, the index of world equities showed a 13% decline in values for the trimester.

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© Jon Nadler, Kitco Metals Inc. for Coin News, 2010. |
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Rare Coin News for June 27 – July 3, 2010

June 30, 2010 by · Leave a Comment 

What’s New This Week……….

Greg Reynolds Weekly Column has been posted on Coin Rarities & Related Topics. This week he looks at three coins to be auctioned in Boston in August. Bowers and Merena will offer an 1870-S silver dollar and an 1854-O Double Eagle ($20 gold coin) and Heritage will put an 1817/4 overdate half dollar ‘on the block.’.

In the first installment of Doug Winter’s New Series “Smart Collecting 101” he discussed the “coin churn” and how to avoid it. One reader made a great suggestion for the second topic which involves buying the “wrong” coin and if there is ever a right time to buy a coin that you clearly know is not optimal for your collection.

An $18 million display of two rare Double Eagles accompanied by Boston-related early Americana will be one of the exhibit highlights in the Museum Showcase area at the American Numismatic Association World’s Fair of Money convention in Boston, August 10 – 14, 2010. The coins in this first-ever display are the finer each of the two known 1861 Philadelphia Mint “Paquet Reverse” gold $20, graded NGC MS67, and 1921 Proof Roman Finish Saint-Gaudens Double Eagle, graded NGC SP64.

The NIA is pleased to announce the release of its first ever update to its unbiased reviews of the major online sellers of gold and silver bullion. NIA decided to award Gainesville Coins with our “NIA 2010 Best Bullion Award“. Gainesville Coins is the highest rated company in our review with prices for precious metals that are the lowest out of all the companies in our review.

Professional Numismatists Guild (PNG) member-dealers have been assisting the news media in their continuing investigations of several gold-buying companies that move from community to community across the United States. One of the buyers offered only $60 — significantly less than even its bullion melt value — for a 1925-D Indian Head $2.50 gold coin certified NGC MS66 and valued at $10,000 by PNG experts.

Heritage will be offering one of only two known 1915 P50C Panama-Pacific Half Dollars struck in Gold (Judd-1960 PR64 NGC) during the Boston ANA Signature Sale in August Lot # 13007. The design is the same as the regular-issue 1915-S Panama-Pacific commemorative half, but lacking the normal S mintmark. Struck in gold. One of Only Two Known !

NEW & UPDATED – Our coverage of rare coin and currency news has expanded with Tim Shuck taking over as Editor of Coin News Daily. This is a special section of CoinLink where we scour the web for items of interest related to numismatics and post a short excerpt and link to these “off site” resources.

We have also made changes to The Bullion Report with daily news and article updates, and a monthly analysis of the “Premiums Over Spot” for Gold and Silver Bullion products.

View all the latest rare coin news here


Will This Time Be Different for Gold and Silver?

June 30, 2010 by · Leave a Comment 

Jeb Handwerger submits:

Stocks went down sharply yesterday on concerns over consumer confidence and indications that show that the economy is stalling in China. China has been a leading market in this recovery and its bull market has helped the price of industrial metals and base metals.

Over the past few weeks I have highlighted that the market has given signs of a major deflationary crisis and economic slowdown. Yesterday these signs became apparent with a significant sell off on high volume and a break into new lows for the S&P 500 and Nasdaq.

Read more »

Gold Consolidates Near Record Highs

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Mark O’Byrne submits:

Gold: Risk aversion led to falls in equity and commodity markets yesterday but gold again managed to eke out a 0.5% gain. The complacency of recent months is being challenged by a raft of negative data and by increasingly precarious fundamentals. Concerns about Chinese and global economic growth and about the European banking system and sovereign debt are leading to continuing diversification into gold.

Gold is currently trading at $1,244/oz and in euro, GBP, CHF, and JPY terms, at €1,013/oz, £828/oz, CHF 1,344/oz, JPY 110,343/oz respectively.

Read more »

12 Charts That Scream New Global Panic

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The Business Insider submits:

Alright folks, everything sold off Tuesday.

Without further ado, let’s take a look at some charts — short and long term — that indicate renewed global panic.

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Rare gold coins to go on display at World’s Fair of Money

June 30, 2010 by · Leave a Comment 

A series of exhibitions at the World’s Fair of Money in Boston, Massachusetts will include a number of rare gold coins.
The event – which takes place in August and is organised by the American Numismatic Association (ANA) – will feature a complete set of 1874 Bickford patterns that were struck at the Philadelphia Mint.
The news feeds on this site are independently provided by Adfero Limited © and do not represent the views or opinions of the World Gold Council.

Read more….

Rio wins right to restrict usage of its Pilbara railway

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BHP may appeal the ruling after it was ordered to open up its own rail line in the mineral rich Pilbara region of W. Australia

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Copper prices rise but outlook still fragile

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The red metal bounced back from a steep fall in the previous session but, with concerns about global demand continuing, the gains looked fragile

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Upbeat mine study boosts Cluff Gold shares

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The group announced the results of a study showing that its Baomahun mine in Sierra Leone is worth $172m

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South Africa unveils new mining plan

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The government is sticking with its previous target of transferring 26% of mine ownership to black people by 2014

Read more….

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