The PCGS Mint State Rare Gold Coin Index is a compilation of all US Rare Gold Coin Prices, based on recent sales collected from various points in the industry over that last thirty to sixty days. These charts assist at a technical level in determining what the most likely direction of the market will be. As a technician, this is a key indicator in determining buying opportunities. A positive trend in any healthy bull market is looking for a series … Read More »
State budgets are in trouble. This problem has been dwarfed in part by the larger national and global economic crisis. But one woman, Meredith Whitney, one of the most respected analysts on Wall Street and known for her call big bank troubles long before the sub-prime crash, has spent the last 2 years and thousands of man hours culling through fifteen of the largest state’s budgets. She is warning of a financial meltdown at the state and local levels. She … Read More »
It is not generally advisable to clean gold coins on your own. Like all expensive things, it is best left to a professional who knows his job. If you damage the gold coins while cleaning it, you may damage it and the value too. However, if you are keen to undertake this task yourself, given below are some tips to do this properly. Some things to avoid: Do not clean your gold coins with chemicals and cleaners that are abrasive. … Read More »
This morning on MSN Money, Jim Cramer seen on CNBC Mad Money and The Street, posted his comments on gold. He said, “Don’t be distracted by attempts to correlate gold with global events or interest rates. The rush is as simple as supply and demand.” I have been saying this for a while now. The talking heads keep trying to correlate gold with global events like a weaker/stronger dollar or fears of inflation. Jim said, “Two weeks ago, gold was … Read More »
Ben Bernanke has been talking about low inflation and the threat of deflation for awhile now. In fact it seems to be the main topic of conversation with him these days. My favorite is in his interview on 60 Minutes last week he claimed that the Federal Reserve is not printing money. This was a lie to the American people right? Technically it wasn’t. The Fed is not printing money; they are digitizing it, which is even easier and more … Read More »
Gold has been on this earth since the existence of planet. Through years of mining, panning and digging most of the world’s gold supply has been extracted. The initial findings were easier to obtain and didn’t require the use of modern day heavy equipment. Now gold is much harder to obtain and it is more difficult to find new sites. Gold is rare, in fact it is estimated that all of the gold ever mined can fit into a 20 yard cube. If … Read More »
Gold and silver are steadily rising, which is a common trend for this time of year (gold rises an average of 13.1% in the last 4-5 months of the year, 8 out of the last 9 years). As of this writing gold is up $10.70 to $1,419 per ounce (a new record close) and silver is up $.84 to $30.24 per ounce (a 30-year high). We are on track to the tenth straight year of higher gold prices. As of … Read More »
Shen Xiangrong, chairman of the bourse, told a conference in Shanghai today that China doesn’t normally publish its gold trade figures or comment on its reserves. However, China released their gold figures for this year and revealed that it brought in 209 metric tons of gold this year compared to only 45 metric tons in 2009. That is a fivefold increase in just 10 months! China is concerned with inflation and they see gold as a good store of value. … Read More »
It seems that we are living during the age of the “bailout.” Late Sunday in Europe a rescue package deal was sealed to lend Ireland up to 85 billion Euros (112.3 billion US Dollars) at an interest rate of almost 6%. Ireland can draw upon the funds as necessary and the funds are being provided by other European nations, the IMF and Ireland’s National Pension Reserve Fund. The money will be used to recapitalize their banks as well as provide … Read More »
In an announcement on Tuesday, Premier Wen Jiabao and his Russian counterpart Vladimir Putin said that would no longer use the US Dollar in their bilateral trade agreement. They will be using their own currency when dealing with each other. This stemmed from the financial crisis of 2008 when both countries began seeking alternatives to protect their economies. In an article on chinadaily.com: Sun Zhuangzhi, a senior researcher in Central Asian studies at the Chinese Academy of Social Sciences, said … Read More »
