Tangible Investments

November 17


Weekly Gold Market News

US Mint Resumes Sale Of Silver Eagle Coins After Selling Out

Los Angeles CA, (Tangible Investments) - by James O’Dell - Gold and Silver prices rebounded sharply on Friday with Gold soaring $26.40 or 2.27 percent to finish the week at $1,189.00 an ounce for Gold's second weekly gain in a row, as the dollar weakened. The price of Silver added $0.66 or 4.21 percent to end the week at $16.34 an ounce while the Gold/Silver ratio, the measure of the number of Silver ounces needed to buy an ounce of Gold fell to 72.77.

The week began with HSBC analysts reporting that the strong reversal upward the previous week in Gold resulted in a “hammer bottom Japanese candlestick pattern,” which left the $1,131 an ounce level as pivotal support. This is a common pattern that “occurs when, after a downtrend, the market makes a strong move down during the week but closes back up towards the open and highs of the week. It is a sign that the bears could be losing control of the market,” said HSBC.

The U.S. Mint announced that it would resume selling 2014 dated American Eagle Silver coins today on an allocation basis only. The Mint halted the sale of the coins when stockpiles were exhausted after demand rose sharply as the Silver price slid to its lowest level since February 2010. “As you know, the drop in Silver prices has led to significantly increased demand for American Eagle Silver bullion coins in the last four weeks,” said the Mint in a memorandum sent to authorized purchasers.

“We anticipate having over 1 million 2014-dated American Eagle silver bullion coins available when we go back on sale, on an allocation basis, on Monday, Nov. 17th.”

Currency wars were in the news again last week, with Saxobank warning of a new “full scale” currency war brewing between China and Japan, two of the world's biggest exporting nations. "We are in a full-blown currency war and the ECB will feel under pressure to take part in that,” said Nick Beecroft, of Saxo Capital.

Meanwhile, increased chatter over the Swiss Gold Initiative is also being blamed for some of the movement in the yellow metal. There are less than two weeks left until polls open for the Swiss Gold Initiative, which calls for the Swiss to have 20 percent of the nations' currency reserves in Gold, and that could mean adding a massive 1,500 tons of bullion to the Swiss reserves, which could drive up the price of Gold in the shorter term.

Preserve your wealth and secure your retirement by making a tangible investment in physical Gold and Silver in 2014. Call Toll Free 1.800.741.5014 and allow the friendly staff at Tangible Investments (learn about us here), owned and operated by world-renowned coin expert Silvano DiGenova, to assist you in your next purchase or sale. You may also want to allow one our Gold IRA specialists to construct for you a precious metals IRA tailored to your specific needs. We also hope you will share our site with your friends on Twitter and Facebook.

Latest Spot Prices

Gold 1201.80 1202.50 $0.20 0.02%
Silver 16.45 16.49 $0.00 0.00%
Platinum 1224.30 1227.30 $4.95 0.40%
Palladium 790.00 793.00 $1.00 0.13%

Other News This Week

Dutch Central Bank Repatriates 122 Tons Of Gold

TANGIBLE INVESTMENTS - Los Angeles - by James O Dell - The Gold price firmed and remained on pace for a third straight weekly gain on Friday as the yellow metal added $3.60 to $1,197.40... [Read More]

Gold Breaches $1200 An Ounce As Central Banks Buy Bullion

Los Angeles CA, November 21 (Tangible Investments) - by James O Dell - The Gold price pushed above the key $1,200 an ounce level in overnight trading adding to gains made on Thursday when the... [Read More]

Unusual Trading Preceded Latest Pullback In Gold Price

TANGIBLE INVESTMENTS - Los Angeles - by James O Dell - The Gold price turned higher on Thursday, gaining $8.80 or 0.74 percent to $1,191.60 an ounce, at the time of this writing, as investors... [Read More]

Asian Gold Demand Robust Under $1200 An Ounce

Los Angeles CA, November 20 (Tangible Investments) - by James O Dell - Gold and Silver prices turned moderately higher in Asian trading overnight after retreating sharply on Wednesday when Gold dipped $14.30 or 1.19... [Read More]

Poll On Swiss Gold Initiative Rattles Market

TANGIBLE INVESTMENTS - Los Angeles - by James O Dell - Gold and Silver prices were mixed in choppy trading on Wednesday, with Gold easing $2.70 or 0.23 percent to $1,194.40 an ounce, at the... [Read More]

About Tangible Investments

Led by renowned coin expert Silvano DiGenova, Tangible Investments is a leader in the Gold IRA, Bullion, Rare Coins, Jewelry, Fine Watches, Fine Art, and Antiques markets. With 30+ years in business and a collective 200+ years of industry experience, Tangible Investments is one of America's most successful rare coin traders and the top buyer in the country. Call Us Today at 1-888-655-9255 to see how we can help you diversify your portfolio and protect your retirement savings.

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