Readers may not agree with our conclusions on the confiscation of gold, but we emphasis this reality. If we are wrong you will still own your gold. If we are right and you have not taken the right steps to guard against confiscation and the personal dangers to you individually, you will lose your gold if not suffer the penalties the “Gold Confiscation Order” brings with it.
Gold will move to a pivotal monetary position
Since August 2007 we have witnessed one banking crisis after another. We have seen the rise of Sovereign debt crises across the developed world. Today, we are hearing that the worst of the crises is over. Translated, that means Read more…
Silver is trading at $34.52/oz, €26.44/oz and £21.36/oz. Platinum is trading at $1,699.00/oz, palladium at $685.50/oz and rhodium at $1,050/oz.
Gold rose $5.30 or 0.3% in New York and closed at $1,771.60. Silver climbed to $34.91 then dropped before bouncing back higher, and finished with a loss of 0.06%. Gold was up 2.02% for the week and silver another 3% for the week.
Gold is slightly weaker today but hovering near a 7 month high, as the US Fed’s announcement of QE3 has led to some investors diversifying into bullion as a hedge against inflation risk.
The yellow metal rose as high as $1,777.51 on Friday, a high not seen since February 2012 when it hit this year’s peak. Last September 2011, it reached a nominal high of nearly $1,920/oz.
QE3 will allow the Fed to print dollars to buy Read more…
(Kitco News) - Higher gold prices are possible next week as tensions with Iran continue to escalate, market watchers said.
Prices were lower on Friday, but up on the week. The most-active April gold contract on the Comex division of the New York Mercantile Exchange settled at $1,776.40 an ounce, up 2.9% on the week. March silver settled at $35.338 an ounce, up 6.4% on the week.
In the Kitco News Gold Survey, out of 32 participants, 24 responded this week. Of those 24 participants, 19 see prices up, while three see prices down, and two are neutral on prices. Market participants include bullion dealers, investment banks, futures traders, money managers and technical chart analysts.
Gold and crude oil prices rose this week, supported by concerns that Read more…