Gene Arensberg, in his Sunday Nov. 11 Got Gold Report for resouceinvestor.com, asked: “Why didn’t gold sell off?” If the Got Gold Report had been scheduled one day later, Arensberg wouldn’t have asked the question because gold and silver suffered big setbacks Monday, which was Veterans’ Day, with further drops Tuesday. Today, however, gold and
Liberty Watch has posted an excellent article about the rapidly growing in fame legal case in which a Las Vegas businessman was not found guilty for paying his employees with old US gold coins, which the businessman and his employees valued at face instead of their Federal Reserve note value. One hundred sixty-one counts were
A client who trades commodities puts a lot of faith in triangle patterns. In a recent email to me and other friends, he posted the above 13-year graph of silver. His comments: If a person does not know something is possible, it is hard or impossible to take advantage of important possibilities. A prepared mind
Investors new to precious metals often ask which is better, gold or silver. Although not a difficult topic, discussing the matter can be long and convoluted. This blog post is not intended to cover all aspects of the topic but will lay out some considerations for investors when deciding which metal to go with. What
According to IMF statistics, the United States is the world’s largest single holder of gold, with a reported 8,133.5 tons. Germany is a distant second with 3,417.5 tons, and the IMF controls 3,217.3 tons. Also according to the IMF, the “world” owns 30,120 tons. So, the United States owns 27% of the world’s official gold
The Central Bank Gold Agreement calendar ended September 26, and early estimates have gold sales under the agreement falling short of the annual 500-ton limit. However, it appears that there was a “rush for the door” in the final weeks, which I noted in the August 1 post Rumbling of more central bank gold sales
After suffering a $21 decline August 16, gold went on a tear and with Friday’s $10 gain traded in the $744 range. In about six weeks, gold tacked on nearly $100 for a 15% increase. Silver, which suffered a $1.06 drop on 8/16, posted an 18% gain of $2.20 since 8/16 but did not take
For years, analysts said that if the dollar dropped below 79 on the US$ Index it could spiral downward in a precipitous drop. Well, the dollar is trading below 79 and fears of a big dollar decline are starting to spread. And, rightfully so. The dollar is in serious trouble because of decades of deficit
Having concluded the sale of 150 tons of gold this year under the Central Bank Gold Agreement (CBGA), the Bank of Spain (Spain’s central bank) announced that it “plans no more significant gold sales in 2007.” Spain has been the big seller under the CBGA this year, selling 150 tons in calendar 2007 but 165
With gold making a strong move above $700, there is not shortage of articles about it. Thursday, mineweb.com posted three articles after the release of GFMS’ first update of it 2007 Gold Survey. Gold could rally through $800/ounce notes GFMS’ chief analyst Paul Walker’s bullish outlook on gold. “. . . a gold price over