American Proof Gold Eagles Suspended Due To High Demand

June 25, 2009 · Posted in Gold Bullion News · Comment 

June 24 -The United States Mint has announced that the production of American Proof Gold Eagles and Uncirculated Coins has been suspended temporarily due to the unprecedented demand for American Eagle Gold Bullion Coins. As of Monday the Mint has announced that all available 22-karat gold blanks have been allocated to the American Eagle Gold Bullion Coin Program as is required by Public Law to ensure that the coins are produced “in quantities sufficient to meet public demand . . . .”

The U.S. Mint will return to producing American Eagle Gold Proof and Uncirculated Coins once sufficient supplies of gold bullion blanks are acquired to meet collector and investor demand for all three American Eagle Gold Coin products. Also, due to the results of the United States Mint's recent numismatic product portfolio analysis, production will cease on fractional sizes of American Eagle Gold Uncirculated Coins.

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Gold Climbs Over $960

May 24, 2009 · Posted in Gold Bullion News · Comment 

 May 23- Gold reached a two-month high this Friday, climbing over $960 an ounce for the first time since March as the falling U.S. dollar leads to the purchase of gold as a currency hedge. Spot gold reached a high of $961.30 an ounce, the highest price since March 20, 2009.

Gold futures in the U.S.for June delivery settled at $7.70 at $958.90 an ounce on the COMEX division of the New York Mercantile Exchange, while experts expect that bullion is poised to make further upcoming gains.

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Gold Values Holding Firm Against Non US Currencies

November 30, 2008 · Posted in Gold Bullion News · Comment 

New York- As a global economic crisis grows deeper, gold has not only held steady in US dollar terms but also increased in value against non U.S. currencies, and a strong buying market despite higher prices seems to signal that the precious metal may rally further.

A jump to safety amid economic termoil has bolstered the US dollar, which hurt dollar-denominated gold and made bullion more expensive when priced against other currencies. On Wednesday, gold traded at around $800 per ounce, about 20 percent lower than its all-time high $1,030 in March, driven by the dollar resurgence in the wake of plummeting crude oil prices and a worldwide recession.
The massive US Government market stimulus plan by the to help keep the economy afloat would lead to a lessened dollar value and higher inflation, which should bode well for gold in the long term, analysts said.

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