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Gold and Silver Sell-Off 2013: Live Price Updates and News

Apr 15, 2013 1 Comment

Gold and Silver have been selling off hard since Friday with Gold well below $1,400 and Silver trading below $24.

There are a variety of theories as to what has triggered the massive sell-off:

• Forced Selling of Gold in the Euro Zone
• Optimism Over the US Recovery
• A Break in Technical Trading Levels
• Forced Liquidation by a Major Bank
• Manipulation by the Fed to Discredit Competing Currencies
• A Macro Signal that a Deflationary Collapse is Coming

ZeroHedge has been doing some great reporting, with an especially good article from ZeroHedge contributor George Washington. It rounds up the possible reasons for such intense selling and the opinions of all the various gold and silver gurus: Why is Gold Crashing?

The community over at TF Metals Report will also keep you updated throughout the day, with robust discussion and valuable contributions from some of the friendliest gold and silver bugs found on any gold and silver blog. Follow discussion in each daily thread, posted by the big, yellow hat wearing precious metal blog-master himself: Turd Ferguson.

Regardless of the reason that gold and silver are down, dealer inventories are rapidly declining and premiums on gold and silver bullion for the retail investor are rising. Reports that many online gold and silver dealers are not able to sell, or have run out of inventory altogether are flowing. In other words, it is paper gold and silver in the spot and futures markets that are selling, not necessarily physical gold bullion or silver bullion. Physical dealers are seeing record sales, as coins, rounds and bars are flying out the door.

Watch Spot Gold and Silver Price Live Charts:

• Gold Spot Price
• Silver Spot Price

Additional Gold and Silver Resources

If you are looking to track the spot price of gold or current silver spot prices, PMBull has you covered with our live price charts, linked above, or accessible from the tabs at the top of the site. If you are looking to follow news updates and opinion pieces, check out updates from Google News, ZeroHedge, the ultra-bullish King World News and the silver specialty site, Silver Doctors, with article summaries and links in PMBull’s Gold and Silver News Feeds.

If you are looking for good prices on silver, or for gold dealers with low premiums (and availability), we have you covered on our silver bullion and gold bullion pages.

Let us know what you think about the current collapse in gold and silver prices? Is it a buying opportunity? Will you buy, and if you are waiting, what is the right price or time to buy? Weigh in with your opinions in the comments below.

Gold and Silver Dip on FOMC Pre-Release: Just Another Head Fake?

Apr 10, 2013 1 Comment

Financial bloggers are abuzz this morning after it was revealed that the FOMC “accidentally” emailed the FOMC Minutes to about 100 bank employees and others yesterday at 2:00 PM. The release was actually scheduled for today at 2:00 PM. After admitting the “error” the minutes were officially released early this morning so that the rest of us can catch up.

What did the minutes say? Not much that can tell us anything about direction, but there was “debate” around ending the $85 Billion per month purchase of Treasury bonds early, with several members seeing QE tapering or ending by year end. These hawkish thoughts were an excuse to push gold and silver prices lower today. It appears that HFT and trading algos read the early release as hawkish too. ZeroHedge shows how yesterday’s S&P 500 Ramp was faded late in the day, right after the early release email was sent out. Continue Reading …

Fed Statement: Today’s FedLines and Gold Silver Impact

Mar 20, 2013 Leave a Comment

The statement from the Federal Reserve has been released and it looks like Bernanke and company will maintain their current Monetary Policy: Overdrive. The Fed includes noises that the economy is improving, but as ZeroHedge observes, it isn’t improving enough to justify a halt to printing. Here are the FedLines, courtesy of ZeroHedge:

• FED SEES ECONOMY RETURNING TO MODERATE GROWTH AFTER Q4 PAUSE
• FED CONTINUES TO SEE DOWNSIDE RISKS TO ECONOMIC OUTLOOK
• FED MAINTAINS $85 BILLION MONTHLY PACE OF BOND BUYING
• FED SAYS FISCAL POLICY HAS BECOME SOMEWHAT MORE RESTRICTIVE

Per ZeroHedge, growth estimates for 2013 are down, along with unemployment. Huh? I guess that makes sense, if you are the Fed.

Watch the impact live on our Spot Gold Price and Spot Silver Price pages.

Chinese Gold Imports Hit Record in December: Should You Buy Gold?

Feb 5, 2013

It looks like China, already the world’s largest gold producer, is also buying all the Western Gold that it can get its hands on, having imported over 114 tons in December – a record. ZeroHedge observes that once again, the price of gold dropped precipitously in December as liquidations took place to meet margin calls, and the Chinese were more than happy to take up the slack.

In 2012, China imported a whopping 834 tons of gold, nearly twice the gold that it imported in 2011. To put that number in perspective, Japan’s total official gold holdings are at 765 tons, while Russia holds 938 tons. China’s goal in 2009 was to achieve upwards of 6,000 tons of gold by 2014. While official estimates from the IMF put current Chinese gold holdings at 1,000 tons, the real number is more likely triple or quadruple that, with many speculating that China unofficially holds upwards of 4,000 tons today.

Read the Full Report at ZeroHedge

Should U.S. Investors Buy Gold?

It is barely speculation at this point that China intends to continue buying up as much gold as it can to ultimately introduce a gold-backed currency, which will supplant the U.S. dollar as the worlds reserve currency.

U.S. investors price gold in dollars, so should the dollar lose its reserve currency status and continues to decline, the price of gold in U.S. Dollars will ultimately rise. While it may not be the case on any given day, the price of gold generally follows an inverse correlation to the U.S. dollar over time.

China is clearly taking advantage of temporary fluctuations in the market and is draining gold from the West as fast as it seemingly can. U.S. investors with available cash may wish to do the same – as a hedge against ongoing declines in the dollar.

Of course, individual investors won’t be buying tons of gold in large bar format like China, but physical gold for small investors is available in as little as 1/10 of an ounce as official U.S. Mint gold coinage. One ounce gold coins and bars are very popular too. First-time investors in physical gold can start by viewing PMBull’s guide to buying gold to get an idea of what the best gold to buy will be for them.

Online Gold and Silver Bullion Dealer Offering Free Shipping

Feb 4, 2013

If you are looking buy gold or silver bullion online but cringe at what the shipping costs will do to your total cost, JM Bullion is offering free shipping on gold and silver bullion orders over $2500 and flat rate shipping of just $8.95 for smaller orders during the month of February. This free shipping offer applies to gold or silver bars, rounds and coins.

Shop JM Bullion Gold and Silver with Free Shipping

It is generally more difficult to purchase smaller amounts of gold or silver online because shipping charges add a significant amount to the total premium over spot price that one has to pay. Typically, precious metal dealers provide free shipping on Silver Eagle Monster Boxes (500 Coins), for instance, but never on smaller orders.

This promotion is a great deal because at current prices, an investor can grab just 4 tubes of Silver Eagles or two 1 ounce Gold American Eagles to realize meaningful savings. Those buying under 100 ounces of silver or just two ounces of physical gold can reduce their total cost by the typical shipping charges on precious metals.

How are JM Bullion Prices before shipping charges? They already guarantee the lowest prices on their selection of high quality, popular gold and silver bullion, so this February promotion provides a great opportunity to add to one’s stack, with the convenience of online shopping.

One could test the quality of customer service and delivery speed by purchasing just a few silver bars, and the cost for shipping will only be $8.95. However, if the price of silver were to go up by $2.00 per ounce before your test is complete, you might feel a bit foolish. Rest assured that they are a trustworthy and respectable bullion dealer with many great testimonials. They are also accredited by the BBB with zero complaints, so you can comfortably take advantage of their offer and grab some bars or coins today.

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