Have questions?
800.992.9881
Call us toll free

Gold futures rebounded Wednesday as demand for gold remains strong

Park Avenue Numismatics, Miami Beach, FL – April 2, 2014 – Gold rebounded Wednesday morning, pushing higher as economic data mounts ahead of the jobs report at the end of the week. A day earlier, gold failed to break into positive territory, instead sticking to a tight range as traders looked forward to U.S. economic data for clues on the metal’s demand outlook. Gold last traded at $1,280 an ounce. Silver at $19.69 an ounce. It’s clear that demand for gold coins is brisk and well based the smashing success of the U.S. Mint’s $5 gold baseball coins. The coins went on sale last Thursday in conjunction with the start of 2014 Baseball season. All 50,000 of the gold coins were sold by Monday afternoon. The last time the U.S. Mint sold out of a commemorative coin was in 2005. Demand for gold is also surging in Japan. Japanese consumers are buying up gold bars ahead of a controversial hike in the country’s sales tax due to hit today. Gold sales increased five-fold in March as talk of the tax emerged. This coupled with the notion that Japanese investors may be looking to protect themselves against inflation.
_______________________________________________________________________________________________________________________________________________________________________________________________________P

China helps Gold stay above $1.300 per Ounce

Park Avenue Numismatics, Miami Beach, FL – March 26, 2014 – Gold prices is finding support at a key trading level above $1,300.00 by the prospect of high demand from China. Chinese authorities in January granted more banks a license to import gold, helping meet the high gold demand of the Chinese population. There has been a surprisingly large rise in Chinese imports that has helped push Gold above $1,300 an ounce. Data from the Census and Statistics Department of the Hong Kong government showed on Tuesday that net imports in February to China totaled 112.3 tons, marking the highest level since October and nearly twice as high as in the same month as last year. This data would have contributed to the increase in the gold price for February, when Gold rose 6.6%.
_______________________________________________________________________________________________________________________________________________________________________________________________________

Gold moves higher for the fifth day in a row

Park Avenue Numismatics, Miami Beach, FL – March 14, 2014 – Gold moved higher for the fifth-straight session on Friday as geopolitical jitters ahead of Crimea’s referendum, a weaker dollar and lackluster demand for U.S. equities helped gold prices gain more than 3% on the week. Gold settled in around $1,382.00 an ounce, holding ground at the highest levels since September. For the week, prices gained roughly 3%. Silver also had a nice run recently, adding nearly 25 cents, hovering near $21.50 an ounce. A day earlier, gold banged out another strong showing as investors fled blue-chip stocks to the tune of a 231-point decline. U.S. equities traded modestly higher on Friday, while the U.S. dollar weakened, providing support for dollar-denominated gold.
_______________________________________________________________________________________________________________________________________________________________________________________________________

Gold breaks through $1,360 an ounce with a second day of gains

Park Avenue Numismatics, Miami Beach, FL – March 12, 2014 – Gold breaks through $1,360 an ounce in early trading, scoring a second-consecutive day of session gains. This is primarily due to worries over Ukraine and concerns surrounding a slowdown in Chinese economic growth. Once again, International issues has lifted the metal’s safe-haven appeal for investors. Analyst believe that the safe haven trade has been among the major reasons behind the current price gains. Silver also had a nice day breaking through $21.00 an ounce, up .23 in early market trading.
________________________________________________________________________________________________________________________________________________________________________________________________________

Gold futures surged by more than 2% on Monday

Park Avenue Numismatics, Miami Beach, FL – March 3, 2014 – Gold futures surged by more than 2% on Monday as the crisis in the Ukraine with Russia escalates. This caused investors to move into safe-haven asset. Gold is off to a great start in 2014, with gains of more 12% since the beginning of the year. Gold jumped $31.50, or 2.4%, to $1,353.10 an ounce in early trading and prices are poised for their highest settlement since September.

________________________________________________________________________________________________________________________________________________________________________________________________________

Chinese demand for gold bars, coins and jewelry soared by 32% to record levels in 2013

Park Avenue Numismatics, Miami Beach, FL – February 19, 2014 – It’s no secret that Gold had it’s ups and downs in 2013 and investors got a little nervous. However, this was not the case in China and buyers just keep stepping up to the plate and bought more. In fact, Chinese demand for gold bars, coins and jewelry soared by 32% to record levels in 2013, even as the price of gold slumped 28%. The increase in buying saw China overtake India as the world’s top consumer of physical gold, importing 1,066 metric tons of the metal to India’s 975 metric tons in 2013, according to new data from the World Gold Council. In India, consumption increased by 13% but further growth was curbed by import restrictions aimed at narrowing the country’s current-account deficit. The sharp rise in Chinese consumption partially offset a steep fall in gold demand elsewhere. While international sales of gold bars, coins and jewelry grew by 21%, gold-backed exchange-traded funds liquidated 51% of their gold holdings, putting 800 metric tons of the metal back on the market. Gold has posted gains over the past several trading session and is now $1,320 an ounce.
________________________________________________________________________________________________________________________________________________________________________________________________________

Gold futures pushed higher on Friday

Park Avenue Numismatics, Miami Beach, FL – February 14, 2014 – Gold futures pushed higher on Friday, clearing $1,300 to trade at the highest level since November. This extends a rebound fueled by a combination of increased physical demand and in-flows into precious-metals exchange-traded funds. Gold jumped $16.70, or 1.3%, to $1,316.70 an ounce. This rally was fueled by softer U.S. economic data. Many analysts are bullish on the Gold trade due to the strong demand from China, an eventual easing of the import ban in India and the safe-haven demand for gold as a result of the turmoil in emerging markets.
________________________________________________________________________________________________________________________________________________________________________________________________________

Gold futures briefly topped $1,300 an ounce on Thursday

Park Avenue Numismatics, Miami Beach, FL – February 13, 2014 – Gold futures topped $1,300 an ounce on Thursday, posting the highest price for the precious metal in more than three months. This was due to a bigger-than-expected fall in January U.S. retail sales and a rise in weekly jobless claims helped fuel weakness in the dollar. Gold has already climbed around 3.5% during a six-session streak of gains. Silver is also up and and reached a high of $20.53 and ounce following eight-straight session of gains.
_________________________________________________________________________________________________________________________________________________________________________________________________________

Gold is up around 5.9% since the beginning of the year

Park Avenue Numismatics, Miami Beach, FL – February 10, 2014 – Gold moves higher on Monday, adding to last week’s gains as Chinese buyers returned for a full week of trading after their Lunar New Year holiday kept them out most of last week. The reopen of China’s markets after being closed in celebration of Lunar New Year since Jan. 31 is a very good sign for the bullion markets and should help support gold prices. Gold opened got as high as $1,278.50 an ounce early in the trading session. Silver added on 24 cents to get above $20.00 an ounce. Gold is off to a great start in 2014. Gold is up around 5.9% since the beginning of the year. Many investors are flocking to the precious metal to find some safe-haven exposure as global equities retreated in the face of rising emerging market turmoil.
______________________________________________________________________________________________________________________________________________________________________________________________________

Precious metals were relatively flat on Thursday

Park Avenue Numismatics, Miami Beach, FL – February 6, 2014 – Precious metals were relatively flat on Thursday, with investors anxiously awaiting January U.S. jobs data, scheduled to be released early Friday morning. A rally in U.S. equities kept a cap on any gains as the market digested comments from the European Central Bank’s Mario Draghi and a fall in U.S. jobless claims. Gold settled in at $1,258.00 an ounce and Silver got as high as $20.28 an ounce, extending its 2% gain from a day earlier.
_______________________________________________________________________________________________________________________________________________________________________________________________________