Author Archives: Everett Millman

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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robbery heist

Stolen Silver Denarius Coin Returned to Portugal

February 3rd, 2018 by

It’s an unfortunate reality that the ancient coin market is frequently plagued by unethical or outright illegal behavior.

The incentives for fraud are strong because of high coin values and difficulty in tracking relics that were produced many centuries, even millennia, ago.

In one case of triumph, a rare silver denarius coin from the Roman Empire has finally been recovered after being stolen more than 30 years ago.

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Labor Markets Tighten, Gold Price Dips

February 1st, 2018 by

Thursday morning saw spot gold slip 0.3% (-$4) to just above $1,341/oz.

Many traders and investors who increased their allocation of gold at the beginning of the year are taking profits off the table. This may be related to short-covering due to recent losses in stocks and bonds.

Spot silver tumbled 17¢ (-0.95%) to $17.14/oz, erasing much of its gains from the month of January.

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Gold Price Bounces Around $1,340/oz After Jobs Report

January 31st, 2018 by

Spot gold was off its session highs on Wednesday after a strong jobs report. The yellow metal still traded about $5 higher to $1,343/oz.

We’re seeing the telltale signs of a consolidation pattern: The precious metals are pushed lower overnight only to rebound back to where they started the next morning.

Accordingly, the silver price was up 9¢ (+0.55%) yet traded back at yesterday’s levels near $17.20/oz.

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