Precious Metals rebound on Monday
Park Avenue Numismatics, Miami Beach, FL – February 25, 2013 – Gold rebounded early on Monday from last week’s selloff, due to the weakness in the U.S. dollar and concerns about the outcome of Italy’s election. Gold rose as much as $18 to $1,590.80 an ounce in early trading. Gold’s allure is based on the uncertainty of the elections in Italy, which are considered to be an indicator of whether the debt crisis in the euro zone could flare up again. Gold has always been considered a safe-haven asset that tends to benefit at times of political and economic uncertainty.
Central Banks purchase record setting amount of Gold in 2012
Park Avenue Numismatics, Miami Beach, FL – February 14, 2013 – In 2012, the world’s central banks bought 534.6 tons of Gold. The amount of Gold purchased is the most in almost 50 years. The increase was due to global Gold demand hitting record value levels. The total purchases by central banks for the year increased 17% compared with 2011. During fourth-quarter alone, central banks purchases increased 29% to 145 tons the same period a year earlier. In value terms, total Gold demand in 2012 was $236.4 billion, an all-time high, based on the Gold Council reports.
Gold looks to extend gains on Tuesday
Park Avenue Numismatics, Miami Beach, FL – February 5, 2013 – Gold futures are up this morning due to a slight improvement in the Euro, and some signs of that the U.S. currency is showing some signs of weakness. This is very positive for commodities such as Gold and Silver. Gold is up over $6.00 in early trading. This move takes Gold back above $1,680.00 an ounce. This is on top of gains that Gold had on Monday. Silver is up .22 cents and back over $32.00 per ounce.
Gold Futures Move Higher on Monday
Park Avenue Numismatics, Miami Beach, FL – Febraury 4, 2013 — Gold futures moved from the negative to positive and turned higher Monday, reversing after strength in the U.S. dollar put pressure on prices. Investors once again moved into the position due to the metal’s safe-haven appeal. The safe haven appeal coupled with political turmoil in Spain and expectations for higher gold demand from China were the catalysts for the move. Gold was rose as high as $5.30 at $1,675.90 an ounce.
Gold futures rose on Friday
Park Avenue Numismatics, Miami Beach, FL – Febraury 1, 2013 – Gold futures are up this morning ahead ofe U.S. jobs data report. This report will provide analysts and investors more insight into the current state of the U.S. economy. Gold futures rose 70 cents to $1,662.70 an ounce the Comex division of the New York Mercantile Exchange. Silver got as high as $31.78 per ounce.
Gold futures up sharply on Wednesday
Park Avenue Numismatics, Miami Beach, FL – January 30, 2013 – Gold futures rose sharply Wednesday based on a report that the economy shrank in the fourth quarter. This report once again had investors moving to precious metals for its safe haven appeal. Gold was up as high as $15.30, to $1,676.10 an ounce. This rush to get into gold and silver is on top of the already looking bullish trend. Silver rose as much as 66 cents, to $31.85 an ounce after climbing 1.3% on Tuesday.
Chinese New Year and Indian provide support for Gold
Park Avenue Numismatics, Miami Beach, FL – January 23, 2013 – The demand for physical gold seems to have support at current levels due to the approaching of the Chinese New Year and demand from India. Right now there is a thin trading range for the metals. Traders are watching to see if Gold can break through and above $1,700 an ounce. We feel there are a lot of positive factors to support another move in precious metals. The support from China and India combined with a weak US dollar and negative economic news continues to make the metals a save haven investment.
Gold Futures back above $1,690.00 today
Park Avenue Numismatics, Miami Beach, FL – January 22, 2013 – Gold futures are back above $1,690 at their highest level in more than a month today. The metal’s strength comes s the US dollar continues to weaken and disappointing economic data that had investors again looking the the metal’s safe-haven appeal. Silver also climbed back to over $32.00 an ounce, which is also the high in the last month.
Gold futures gain of 1.4% on Thursday
Park Avenue Numismatics, Miami Beach, FL – January 10, 2013 – Gold futures rose 1.4% on Thursday, backed by strong Chinese export data, and a weaker dollar versus the euro after the European Central Bank dismissed the idea of further near-term rate cuts. Gold for February delivery rose $22.50, to settle around $1,678 an ounce on the Comex division of the New York Mercantile Exchange.
Gold futures open higher on Tuesday
Park Avenue Numismatics, Miami Beach, FL – January 8, 2013 – Gold futures open higher on Tuesday based on signs of an increased demand coming out of Asia. Gold futures rose $7.60 an ounce, to trade at $1,653.90 in electronic dealings. Silver is .14 and is trading over 30.25 per ounce.