Author Archives: Everett Millman

Russia Arrests Nuclear Scientists for Trying to Mine Bitcoin

February 24th, 2018 by

computer code hacking

It seems that everybody is trying to get rich quick with cryptocurrencies these days.

Many investors, particularly those with little experience, are finding out that this can be a rather risky undertaking.

However, a group of Russian scientists working for the Kremlin ran afoul of their employer by plotting to use state resources to mine cryptocurrency.

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Dollar Rallies, Bonds Ease, Precious Metals Pare Losses

February 20th, 2018 by

The selloff of bonds cooled off on Tuesday as U.S. markets reopened after the President’s Day holiday.

Gold trading closed early yesterday at 1 pm EST.

Precious metal prices tumbled at the open but quickly recovered by about 10 am in New York.

Spot gold was still down more than $6 (-0.5%) to $1,340/oz.

The silver price cut almost all of its losses. Silver traded at $16.62/oz, down just 3¢ (-0.15%).

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charting gold price

Gold Price Flat on Monday After Losing Ground Overnight

February 19th, 2018 by

charting gold price

Spot gold was choppy but traded basically sideways on Monday, steadying around $1,347/oz.

The yellow metal leaked lower in overnight trading. With the rally above $1,350 late last week, some gold traders are likely taking profits.

U.S. bond and stock markets are closed today for President’s Day. Commercial banks will be off for the holiday, too.

Wall St last closed completely flat on Friday.

The precious metal that saw the most movement was palladium, which was down 0.8% (-$8) to $1,024/oz.

Silver prices were also around unchanged at $16.65/oz.

Platinum inched higher to about $1,007/oz.

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Spot Gold Jumps, Stocks Down After CPI Rises

February 14th, 2018 by

Stocks looked poised to snap their three-day rally on Wednesday as data from the Labor Department suggested inflation is accelerating.

Gold futures were down sharply before the opening bell in New York. Yet spot gold recovered to $1,335/oz (+0.45%) in early trading.

Spot silver advanced 6¢ (+0.33%) to $16.61/oz.

Platinum and palladium were both higher this morning, trading at $979/oz and $985/oz, respectively.

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2018 Lunar Year of the Dog: Gold and Silver Coins

February 11th, 2018 by

This coming Friday, February 16th, marks the beginning of the Chinese Lunar New Year. The occasion signals the end of the Year of the Rooster and the start of the Year of Dog in 2018.

It is a time of celebration for many cultures around the world. Accordingly, the Lunar New Year is often seen as an auspicious time for buying gold and silver as gifts.

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Gold Slips Tuesday Despite Meltdown In Stocks

February 6th, 2018 by

Although stocks around the world struggled to rebound from Monday’s meltdown, the precious metals dipped slightly lower on Tuesday morning, as well.

Spot gold lost about $8 (-0.65%) at the opening bell, but the yellow metal is holding above $1,330/oz. The silver price traded mostly flat at $16.65/oz.

Meanwhile, platinum slipped 0.2% (-$2) to $987/oz. Palladium extended its string of losses, tumbling $15 (-1.5%) to just above $1,000/oz.

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super bowl ring

How Much Gold Is In a Super Bowl Ring?

February 4th, 2018 by

Later today, fans in Philadelphia and New England will be hoping their respective football teams strike gold in Super Bowl LII.

The Roman numerals “LII” indicate it’s the 52nd iteration of the National Football League’s yearly contest to crown a new champion.

Have you ever wondered: How much precious metal goes into a Super Bowl ring?

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