NEW YORK (Commodity Online): Data from the U.S. Mint show that so far in October, 6,000 ounces of gold coins were sold month-to-date, said Barclays Capital in a research note.
According to Barclays, coin sales in September showed the first month-over-month rise since April.
Including October’s tally, year-to-date coin sales now stand at 910,000 ounces, versus 857,500 o... read more
The difference in the changes between gold and silver inventories is interesting.
I suspect that a great deal of the gold that has been lost this year has been repurposed to private ownership in China, the Mideast, and India among other places.
Although I do not show them here, Palladium and Platinum look much more like silver than gold.
Most of the conventional, off the cuff explanat... read more
Grab any Wall Street trader in a bar, or any portfolio manager in his office, and he’s likely to tell you gold is finished.
It’s silly, nothing more than a shiny metal, a substance with little use and little real value, a “barbarous relic,” and the stuff of nothing more than superstition. Only a fool would own any gold in his portfolio.
Right?
<... read more
Gold’s support is at $1,300/oz and a fall below that level could see gold test the next level of support at the $1,180/oz to $1,200/oz mark. Resistance is at $1,400/oz to $1,434/oz level and a breach of resistance should see gold quickly test the $1,500/oz level (see chart above).
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GOLD bulls have had it rough this year but many would have found solace in the Precious Metals Round Table web-based conference call and presentation held recently by Sprott Asset Management.
About 6,300 participants logged on to listen to speakers like investment "guru" Marc Faber — publisher of the Gloom, Boom and Doom Report — and Toronto-based Sprott chief investment strategist John... read more
Having been dismissed on the first day of the shutdown, precious metals have surged back in the last few days and this morning, as no deal was achieved (surprising equity market 'investors' who seemed so sure Friday afternoon), are pressing up to post-shutdown highs. With the S&P near post-shutdown lows, and Treasuries only marginally bid, it seems precious metals are bene... read more
It takes a lot of courage to go against the crowd.
Whether in investing, or acknowledging that your country is heading towards an epic fiscal crisis, it isn’t easy to stand alone… especially when everyone else is betting the other way.
Have you ever noticed, for example, that investors are often only interested in buying some stock or asset when its price is going up?
It’s as if... read more
Paper price discovery is a nebulous construct calculated by using the futures price in a market where investment banks have primary influence (or where they rig the price). The result is that the price of silver (and Gold) is not derived by its physical demand or supply, but rather by the speculative positions standing long or short on the commodity exchange like any other traded commodity, sto... read more
We live in a time of great illusion in terms of money, wealth, and justice. Investment banking and finance continue to attract the greatest minds. Fraud of the greatest degree goes practically unpunished.
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