Gold rose back above $1250 on the Friday after Thanksgiving, but then it fell to a five-week low under $1230 on "Cyber Monday," December 2. Silver also traded back above $20 last Friday, before dropping below $20 again on Monday morning. The reason being offered by the press for such a sharp drop is a series of upbeat U.S. economic statistics. In truth, the technical New York trend followers look for any excuse to unload their paper gold positions.
Good News: Chinese Demand Picks Up Whenever Gold Prices Decline
In October, China posted its second-highest level of net gold imports, nearly topping the record set last March. According to the World Gold Council, China has imported 967 tons of gold through Hong Kong, its main port of entry, in the first 10 months of 2013.
Wall Street's Few Gold Bugs - Paulson & Soros - Are Buying or Holding Gold
It's a lonely position to be a gold bug on Wall Street these days, but the most famous mainstream hedge fund manager in the gold camp - John Paulson - has held on to his 10.23 million shares of the SPDR Gold Trust (GLD), meaning that he is still the largest shareholder in the largest gold exchange traded fund (ETF). His November filing on his holdings as of September 30, 2013, shows no change in his gold holdings last quarter. Paulson cites the risk of "high inflation in the future" as his main reason for holding gold.
Meanwhile, George Soros has bought shares in the super-depressed gold mining sector. Last quarter, Soros Fund Management bought 1.1 million shares of the Market Vectors Gold Miners ETF after selling all of its shares in the same ETF during the second quarter.
Mike Fuljenz talks about record rare coin sales and the Kennedy half dollar.
Mike Fuljenz discusses the billions that America would save by eliminating the penny and the dollar bill.
America's Gold Expert® Mike Fuljenz, received multiple awards during the annual World's Fair of Money, including one of the profession's most esteemed honors, "The Clemy," for his consumer protection and education work in rare coins and precious metals…
Sandwiched between receiving an award, autographing copies of his book and purchasing gold coins to fulfill his customers' orders, America's Gold Expert® , Michael Fuljenz, recently was a keynote speaker at a special training course for Texas law enforcement personnel on the topic of investigating crimes involving rare coins, bullion and jewelry.
Mike Fuljenz with Rep Lloyd Doggett (D-TX) and Rep Jimmy Hayes (R-LA)
I am urging coin collectors and investors nationwide to promptly contact their Congressional representatives in support of the recently introduced Collectible Coin Protection Act (HR5977).
I was among a half dozen of the country's numismatic leaders who met in Washington, DC on June 28, 2012 with Congressional leaders and staff members to discuss the importance of the proposed legislation to protect the public.
Most Americans take those words for granted today and assume they’ve always been part of our national fabric. Thus, many were surprised when the House of Representatives recently voted to reaffirm that this simple phrase is the official national motto. The story of the motto is an engrossing one, full of fascinating twists and turns…
KFDM-TV Channel 6 in my hometown of Beaumont,Texas recently did a Crime Stoppers story about a Texas dealer who reportedly paid only $16,000 for nearly $250,000 of coins sent to him by an 82-year old California woman. The interviewer asked me for consumer protection advice so other people can avoid encountering this kind of problem.
By Doug Davis - Numismatic Crime Information Center
The State of Texas has already arrested some out of state gold buyers for not adhering to new state requirements that were effective Jan 1, 2012. The Texas Legislative committee heard from coin dealer Mike Fuljenz whose expertise was invaluable during the drafting of the new legislation.