Blog
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Gold price pullbacks – a look at history
- November 12, 2014
- Posted by: Orkan Ozkan
- Category: Gold
No CommentsGold prices are currently in a pullback, but it is nothing that hasn’t been seen before. The World Gold Council (WGC) pointed out in a report from January 2014 that since the 1970s, gold has had 12 corrections of more than 20%, adding that “After each of those corrections, an interesting pattern has emerged.” Past performance is
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Video: What’s driving Russia’s gold buying spree?
We recently wrote about Russia’s purchase of 1.2 million ounces of gold during the month of September, the country’s largest gold purchase in over 15 years. If you’re wondering what is behind this growing Russian appetite for gold, Newsy has produced a video offering an explanation. What’s driving Russia’s gold buying spree? Highlights from the video: One
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This Week in Gold: Low prices, huge demand
- November 7, 2014
- Posted by: Orkan Ozkan
- Category: This Week in Gold
This week in gold we saw precious metals, particularly silver, fly off the shelves amid low prices and high demand. The U.S. Mint reported record sales of bullion coins during the month of October, and said on Wednesday that its American Silver Eagle coins are temporarily sold out. We also summarized the World Gold Council’s latest
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More U.S. Mint news: American Silver Eagles temporarily sold out
- November 6, 2014
- Posted by: Orkan Ozkan
- Category: News
The U.S. Mint said on Wednesday that its 2014 American Silver Eagle coins have temporarily sold out amid “tremendous demand in the last several weeks.” As we wrote in yesterday’s blog, the Mint reported record high bullion coin sales during the month of October. This news was not announced to the public, but a spokesperson confirmed that a
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U.S. Mint bullion coin sales surge in October
Demand for U.S. Mint bullion coins surged in October, with silver and gold coin sales at their highest since January 2013 and January 2014 respectively. Gold and silver spot prices have hit lows recently, but apparently this hasn’t hurt retail demand – on the contrary, it appears to have helped. Scott Spitzer, CEO of the coin dealer Manfra, Tordella &
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World Gold Council: 4 reasons gold is a valuable portfolio component
- November 4, 2014
- Posted by: Orkan Ozkan
- Category: Gold
The World Gold Council (WGC), the market development organization for the gold industry, has released its latest edition of Investment Commentary, which looks into relevant economic factors that may influence gold’s performance in the remainder of 2014. Their outlook for the yellow metal is mostly positive. The report begins by stating that as of October 20, the gold price is up 3.4% this year with record low
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When Do Brokers File an IRS Form 1099-B?
- November 3, 2014
- Posted by: Orkan Ozkan
- Category: Gold
If you have ever thought about selling your precious metals, one of the things you may have wondered is: how are these transactions reported? IRS Form 1099-B, as applied to precious metals When a client sells bullion to a precious metals broker, a Form 1099-B may be required depending on the type, fineness, and quantity of
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Gold and silver hit lowest prices in 4 years
- October 31, 2014
- Posted by: Orkan Ozkan
- Category: News
Gold and silver hit their lowest prices since 2010 on Friday amid a strong dollar and the Federal Reserve’s termination of its quantitative easing (QE) program. The U.S. dollar strengthened against the Japanese yen after the Bank of Japan announced it would increase its stimulus spending. Jeffrey Sica of Sica Wealth Management said “The main reason for gold’s fall is
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Fed ends quantitative easing program, Alan Greenspan praises gold?
- October 29, 2014
- Posted by: Orkan Ozkan
- Category: News
The Federal Reserve concluded its monthly meeting today, in which it decided to end its quantitative easing (QE) program and continue to keep interest rates low for a “considerable time”. These announcements were in line with analyst expectations. You can see the full official statement here. The Fed’s QE program, introduced in 2008, involved the central bank
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Ron Paul: Swiss gold referendum is a “healthy conversation”
- October 27, 2014
- Posted by: Orkan Ozkan
- Category: News
Former U.S. congressman Ron Paul believes the Swiss gold referendum – an upcoming vote on whether Switzerland’s central bank should increase its gold reserves to 20% – is a “healthy conversation” on the role of central banks. The vote is set to take place on November 30. Paul is known to be a strong supporter
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