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  • Platinum Extends Gains Amid Mine Closings and Supply Concerns

    • May 19, 2014
    • Category: News

    Impala Platinum Holdings, the world’s largest platinum mine, recently announced that its production will be halted until at least the middle of this year, even if the dominant union, the Association of Mineworkers and Construction Union (AMCU), resolves the work stoppage soon. About 70,000 members of the AMCU have been on strike since January 23,

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  • This Week in Gold: Price Rebounds and Gold Smuggling

    This week in gold, we learned five interesting facts about gold smuggling and why the phenomenon is important, and saw gold and silver make a rebound on account of the violent situation in Ukraine and some mixed U.S. economic data. Gold and Silver on the Rebound The situation in Ukraine had another stroke of violence

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  • Gold and Silver Make Sudden Rebound

    • May 14, 2014
    • Category: News

    Yesterday, May 13th, the gold spot price closed at $1294.80, while the silver spot price closed at $19.47. Today, gold and silver have made a sudden rebound after taking a hit earlier in the morning. But why the sudden change in such a short period of time? The Situation in Ukraine Gets Violent Ukraine has

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  • 5 Interesting Facts about Gold Smuggling

    • May 12, 2014
    • Category: Gold

    Smuggling of items usually occurs in attempt to bypass import and export laws and taxes. In India, the world’s largest consumer of gold, this is certainly the case. India loves its gold and often hoards it as a store of wealth. In June of 2013, a higher duty (tax) on gold jewelry was introduced. Over

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  • This Week in Gold: $1300 Resistance, SEP vs. 401(k), Celeb Investments

    This week in gold, we saw the gold price break the $1300 resistance level over Ukraine concerns and U.S. economic activity, learned the benefits of and differences between a SEP IRA and a 401(k), and had some fun with hypothetical celebrity investments in gold. Gold breaks $1300…for a little bit On Monday, gold reached a

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  • What If These 9 Celebrities Had Purchased Gold?

    • May 9, 2014
    • Category: Gold

    Let’s have some fun. Imagine that the following celebrities bought $10,000 worth of gold the year they were born. If they had kept the gold until today, 20, 60, even 116 years later, what would it be worth in U.S. dollars now?* How much more money would Oprah, Justin Bieber, and Bob Barker have? The

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  • SEP IRA vs. 401(k)

    • May 7, 2014
    • Category: 401K

    Out of the available types of retirement accounts, two get asked about frequently by customers: SEP (Simplified Employee Pension) IRAs and 401(k)s. A SEP IRA is considered an alternative to the 401(k) plan. Below we outline the differences between the two and how to convert/roll over each into a gold retirement account. What is a

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  • Gold Breaks $1300 on Ukraine Concerns

    • May 5, 2014
    • Category: News

    Today gold broke the $1300/oz resistance level it has been hovering around all year. New developments in the Ukraine conflict sparked safe-haven buying of gold. A street battle occurred in southern Ukraine between supporters and opponents of Russia and at least 42 people were killed. Some of the victims died inside of a burning building.

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  • This Week in Gold: Mine Strikes, Polls, Inflation, Money Printing

    This week in gold we got an update on the South Africa platinum mine strikes, discovered what the top financial concerns of everyday Americans are, received advice from a top economist, and learned what actually happens when money is “printed”. The South Africa mining strike saga continues On Monday, we reported that the major platinum

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  • What Actually Happens When a Government “Prints Money”?

    • May 1, 2014
    • Category: Government

    In economic discussion, you may often hear that a government is “printing money” and then picture sheets of hundred dollar bills coming off a printing press. However, most often this is not what actually takes place when a government adds to the monetary supply. Money creation in modern economies usually involves creating money that is not physical. Central

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