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All That Glitters May Not Be Gold
Posted February 6th, 2014
Laguna Beach, CA., Feb 6 (Tangible Investments) An uptick in safe-haven demand pushed Gold bullion prices higher on Thursday with the yellow metal currently trading at $1,261.00 an ounce, this follows a decision by the European Central Bank (ECB) earlier in the day to leave interest rates unchanged at 0.25 percent. Trading remains thin in the metals as investors await the release of key U.S. jobs data on Friday. According to Treasury Secretary Jack Lew the nation will also reach its debt limit on Friday, so he has issued a warning to Congress that the nation can only keep using “extraordinary measures” to pay its bills until late February. Will the government be forced to shut its doors once again?
Meanwhile, the Sochi Olympics also begins on Friday, and it appears that the gold medals that will be earned at the Winter Olympics this year are made of silver and only plated with gold. In truth, Olympic gold medals were made of solid gold for a very limited period that only lasted from the 1904 Olympics through the 1912 Olympics. The 2014 gold medal is made up of 525 grams of silver and 6 grams of gold and it's worth around $634 at current prices. The 2014 silver medal is solid sterling while the bronze medal is copper alloy and zinc, and they're being made by Russian jeweler Adamas. The silver medal is made with 525 grams of silver, and it's worth around half the value of the gold medal at $368.
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