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Monthly Archives: August 2014

Gold slips ahead of holiday weekend

Gold futures on Friday retreated from their highest settlement price in a week, slipping ahead of the holiday weekend as investors await another batch of U.S. economic data.

Gold for December delivery GCZ4, -0.71%  was down $4.40, or 0.3%, to $1,286.00 an ounce. September silver SIU4, -0.58%  lost 9 cents, or 0.5%, to $19.44 an ounce. Bullion rose 0.4% in August, and gained 0.6% on the week.

A day earlier, gold prices advanced as investors moved away from stocks and sought safe havens in the face of the escalating conflict in eastern Ukraine. The conflict in Ukraine has pushed palladium prices higher, as Russia is one of the world’s top producers of the precious metal. (more…)

Gold pushes higher on mounting Ukraine conflict

Gold futures on Thursday rose to their highest in a week, gaining ground as investors worried about escalating conflict in eastern Ukraine.

Gold for December delivery GCZ4, -0.73%  gained $6.80, or 0.5%, to settle at $1,288.70 an ounce on the Comex division of the New York Mercantile Exchange. That was the highest settlement for a most-active contract since Aug. 20.

September silver SIU4, -0.58%  added 13 cents, or 0.6%, to end at $19.53 an ounce on the Comex, extending its winning streak to a third day. That was also silver’s largest one-day percentage increase in a little over a month.

A day earlier, gold was overshadowed by the S&P 500’s first-ever close about 2,000 and remained mostly rangebound throughout the session. (more…)

Finally, gold is rallying over escalation of Ukraine crisis

Is gold finally beginning a sustainable advance?

Two weeks ago, you may recall, I focused on gold’s surprising weakness in the wake of a serious escalation of hostilities in Ukraine. Today, in contrast, gold is rising smartly in the face of an even graver escalation of those hostilities—a reported Soviet invasion of eastern Ukraine. Gold investors have been waiting for several years for gold to begin a rally that is of more than just short-term significance—and are wondering if recent strength is it.

As always I turn to the top performers for insight. In addition to gleaning their thoughts about the overall direction of the gold market, I also focus on whether gold investors ought to favor bullion or gold mining stocks when they do decide to jump back in.

Celebration Dinner of eBullion, Inc.

Our company held a celebration dinner to celebrate eBullion, Inc. has successfully listed in the US on 24 August 2014 (Thursday).  The stock symbol is EBML.  The location was at the King Palace (Chiu Chow) Restaurant.  Thank you everyone for coming and join our celebration!

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Gold settles down 0.1% as headwinds kick up

Gold finished slightly lower on Wednesday as the focus remained on stocks in the wake of the S&P 500’s first-ever close above 2,000.

Gold for December delivery GCZ4, -0.72%  settled down $1.80, or 0.1%, at $1,283.40 an ounce on the Comex division of the New York Mercantile Exchange. September silver SIU4, -0.58%  finished up nearly 2 cents, or 0.1%, at just below $19.41 an ounce. (more…)

Why isn’t silver more valuable?

There is a VAST OVER SUPPLY (OVERHANG) OF SILVER in the markets, Woody, and there is no denying that irrefutable fact which is clearly established in great detail above.

Silver obviously has nothing whatsoever to do with money or currency.  Most silver is PRODUCED AS A BYPRODUCT and the production costs for silver as as low as nearly zero per ounce and average cash costs for production are now around $7.50 per ounce..

WORLD DROWNING IN EXCESS SILVER INVENTORY OVERHANG.

Silver inventory reaches 16-year high after worst rout since ’81 – Mineweb

Silver Cash Costs $7.50

Silver could easily plummet to $4 per ounce where it was in 2001.

Silver is the most volatile of all of the metals and there is a VAST OVERSUPPLY OF THE STUFF.

During the GREAT SILVER CRASH OF 1980-2001 the price of silver plummeted 90% from $50 an ounce in January 1980 to $4 per ounce in 2001.

Historically, the price of silver for hundreds of years was around $1 an ounce and went up to around $2 per ounce before the manic metals speculation began in 1972.

There is a MASSIVE OVERHANG (oversupply) of silver in the markets for which there is no demand which is a big reason why the price of silver has plunged so much.  The annual supply of silver is right around 1 BILLION OUNCES with more than 800 million ounces coming for new mining and around 200 million ounces coming from scrap / recycling but demand is only around 800 million ounces a year. (more…)

S&P 500 ends higher for first-ever close above 2,000

U.S. stocks edged higher Tuesday, with the S&P 500 notching its first-ever finish above the milestone level of 2,000.

A stronger-than-expected reading on consumer confidence provided a lift, and investors took a somewhat mixed report on durable-goods orders in stride.

The S&P 500 SPX, +0.78% rose 2.10 points, or 0.1%, to end at 2,000.02. The benchmark also touched an intraday record just above 2,005 before easing back. Energy XLE, +0.09% fared best among the 10 S&P sectors, while utilities XLU, -0.36% and industrials XLI, +0.52% performed worst and lost ground. (more…)

Gold settles up 0.5% as stocks continue climb

Gold prices finished higher Tuesday, but two-month lows weren’t far off as a stronger dollar and an appetite for equities continue to weigh.

Gold for December delivery GCZ4, -0.84%  settled up $6.30, or 0.5%, at $1,285.20 an ounce. September silver SIU4, -0.58%  settled up nearly 3 cents, or 0.1%, to $19.39 an ounce.

Gold held on to gains after data showed U.S. orders for durable goods jumped more than 22% in July, driven by big orders for Boeing aircraft. Excluding the transportation sector, sales were down 0.8% amid widespread weakness. (more…)

The most active Gold or Silver Trading Company in July 2014

According to give impetus to London Gold or London Silver of The Chinese Gold & Silver Exchange Society, The Chinese Gold & Silver Exchange Society is going to publish a list of the most active Gold or Silver Trading Company in Apple Daily or Oriental Daily News every month.  There will list ten companies out every month.

We were in the list of February, March, April,  May and June.  We are in the list of July as well.  We will put even more effort to improve our company and provide the best service to our clients.

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Gold back in the red after dismal week

Gold got back to its losing ways after last week’s positive finish, slipping on Monday as traders and central bankers continue to assess the threat of rising interest rates and as a buildup of Russian forces near Ukraine stoke global jitters.

Gold for December delivery GC, -1.30%  fell $1.30 to settle at $1,278.90 an ounce on the Comex division of the New York Mercantile Exchange. September silver SIU4, -3.45%  was off 3 cents to end at $19.36 an ounce. (more…)

Gold up after losing streak, but down 2% on week

Gold futures rose Friday following a string of losses, but are still down 2%, their worst weekly decline in a month. Gold for December delivery GCZ4, -0.16% rose $4.80 to settle at $1,280.20 an ounce.

The precious metal firmed after Federal Reserve Chairwoman Janet Yellen said the economy is getting closer to the Fed’s goals of full employment and stable inflation. The debate at the central bank is now moving toward when the Fed should begin to raise interest rates, said Yellen in her speech at the annual gathering of central bankers in Jackson Hole, Wyo.  Reports of NATO’s concerns over the buildup of Russian forces near Ukraine also propped up gold. (more…)