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Yesterday, gold fell $26.70 in the cash market for a 3% decline. Silver suffered a 3.35% fall. The declines added to gold’s and silver’s losses since the middle of March, when they hit decades-high prices. (Actually, gold hit a record high, but silver is still far short of its 1980 high of $50.) Gold’s mid-March
Perhaps the fundamental fear behind every gold investment is that the paper money being gotten rid of could become worthless. In theory (probably in actuality), that fear rests with any currency not redeemable in gold or silver, which means all the world’s currencies. No world currency, not even the fabled Swiss franc can be redeemed
The last few posts were about silver because that’s the way the news fell. Now, we have a plethora of articles about gold, some worth reading and one worth listening to if you prefer not to read. ANZ Australian Economics Weekly says gold prices may “firm this week.” With gold having hit $930 Wednesday morning,
Resourceinvestor.com titled a recent article about ETF silver holdings thusly: London-Listed Silver ETF Unloading Holdings A title with a negative connotation. However, the article itself was rather bullish on silver. On reading the article, you will learn that although the small London-based ETF had about 3.5 million ounces (99 tons) worth of silver redemptions from
Releasing a second study in four years, the Commodities Futures Trading Commission (CFTC) denies that the major bullion houses are or have manipulated the price of silver. Basically, the CFTC study said that price of silver is not and has not been manipulated because the price of silver has risen substantially over the last few
GFMS Ltd., a metal consultancy headquartered in London, says that silver will climb back to $20 this year, primarily because of investor demand. The prediction came with the release of Silver Institute’s annual World Silver Survey, which GFMS compiles. GFMS, formerly known as Gold Fields Minerals Services, publishes the one of the two respected annual
Reuters, a major financial data provider, has attempted a hatchet job on silver, a piece is so bad that should be ignored, but already I’ve seen copies of the release on two major online news sources. Undoubtedly, because of Reuters’ wide acceptance as a mainstream news provider, the piece has spread around the financial world.
As noted in today’s earlier post, the U.S. Mint is allocating Silver Eagles to its distributors. Also as noted in the post, I speculated that the Mint may find that it does not have to allocate because demand may be much lower than it was in March. Still, premiums were up as renewed trading in
Late last week, the U.S. Mint notified its distributors that it will again take orders for its American Silver Eagle bullion coins on April 21, 2008. Interestingly, the Mint further said that it will be allocating coins to its distributors because of “the unprecedented demand for American Silver Eagle Bullion Coins.” At first it may
As noted on the Silver Eagles page on the cmigs website, the U.S. Mint is not now producing Silver Eagles. One of the consequences of the Mint not disclosing why it had stopped turning out its popular 1-oz silver coins was widespread speculation that the Mint was discontinuing its Silver Eagles program due to a
