Gold, Silver, Metal Prices: Commentary – 10/30/2009

GDP: Great Day to Play Good Day, Friday’s market sessions in precious metals started off on a tamer note, following the best gains in gold in three weeks. Explanations follow. The recapture of the $1045 area is noteworthy, although analysts we polled during the wee hours overseas are trying to define the move as everything [...]

Gold, Silver and US Stocks Rally

Gold and other precious metals spiked Thursday, as did crude oil and US stocks following a report by the Commerce Department saying the economy expanded at a 3.5 percent annualized pace in the third quarter. Gold’s rise broke a losing streak that had extended to five days. The Dow and S&P enjoyed their best one-day [...]

2009 American Buffalo Gold Proof Coin Launches with Little Issues

Today at noon ET the United States Mint began selling the 2009 American Buffalo Gold Proof Coin for $1,360.00, as it announced on Oct. 22. The one-ounce .9999 fine (24 karat) gold coin is expected to draw significant attention. The US Mint handled early demand in improved fashion compared to the collector blitz and resulting [...]

28.8 Cents Prevents US Mint Gold Coin Price Reductions

The price of gold has been on a five-day price slide, but ironically the timing of the decline was slightly off in helping collectors pay less for US Mint gold collector coins. The US Mint uses a London Fix weekly gold average to determine whether to keep gold coin prices the same, or adjust them [...]

Gold Continues Decline for Day Five, Stocks Tumble

Gold ended slightly lower Wednesday, marking the fifth consecutive day the yellow metal has declined. Again cited as the catalyst for the loses was a rallying US dollar. Silver and platinum also fell, as did crude oil which plunged 2.6 percent. US stocks followed along, with the three major indexes tumbling between 1.2 percent and [...]

Heritage Auctions Realizes $8.7 Million in Dallas U.S. Coin Auction

1879 Flowing Hair stella leads the way with $161,000; strong prices signal optimism in the market DALLAS, TX — With a sell-through rate of 90% by lot and 88% by dollar value, and almost 3300 bidders, Heritage Auctions’ Oct. 23-24 Dallas Signature® U.S. Coin Auction soared to $8.7 million total. All prices include a 15% [...]

Gold Drops for Fourth Day, Silver Plunges, Stocks Mixed

New York gold futures ended lower Tuesday for the fourth straight day as the US dollar advanced on news of a decline in consumer confidence. Silver was hit exceptionally hard for the second straight day, falling more than 3 percent. Platinum declined as well. In other markets, crude oil finished 1 percent higher and US [...]

Gold to Rise to $2,000 Amid ‘Massive’ Inflation, Superfund Says

By Kim Kyoungwha Oct. 28 (Bloomberg) — Gold may rise to a record $2,000 an ounce in the next three years as investors hedge against “massive” inflation sparked by governments printing money, according to Superfund Financial Singapore Pte’s Aaron Smith. “In the next few years, after the deflation cycle, we’ll see massive inflation,” Managing Director [...]

Gold 1879 Flowing Hair Stella coin tops Dallas auction

A rare 1879 gold coin was the star lot of a recent numismatic auction held by Heritage Auction Galleries in Texas last week. The Dallas Signature US Coin Auction saw a gold Flowing Hair Stella sell for $161,000 (£98,007), reflecting the current high demand for a piece that was made in a limited quantity.The news [...]

Newmont quarterly earnings double

Denver-based Newmont Mining earned $388-million in the third quarter, compared with net income of $191-million a year earlier, helped by surging gold prices, lower production costs and increased volumes. Revenue in the quarter rose to a best-ever $2,05-billion, compared with $1,37-billion in the same period of 2008. Read more….

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