How to choose your Canadian bullion dealer

Friday, August 9, 2013 9:36:20 AM America/Toronto

There are several bullion dealers out there where you can buy silver and gold coins from, the questions is who.  These are some of the most important questions you should be asking.

-          Do does the dealer have a variety of gold and silver coins and bars?

-          Confirm they only sell what they have in stock?

-          Did you do a google search on the bullion dealer?

-          How quick is the shipping?

-          Do they have a physical office you can visit?

-          Do they have a variety of ways you can pay for your bullion?

 

Comments | Posted By Jamie Cohen

What You Need to Know about Gold and Silver - Week 2

Friday, August 2, 2013 11:58:47 AM America/Toronto

Our 2nd week will focus on bullion bars: silver bars and gold bars

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Comments | Posted By Jamie Cohen

Breakout move in gold and silver?

Tuesday, August 21, 2012 10:30:26 AM America/Toronto

Is this finally the break out move gold has been waiting for?  In order to convince the broader market that it is ready to make steady gains from its consolidation over the last four months, gold first needs a close today above $1,630 (it looks like this will be achieved).  Above there it must convincingly break the 200 day moving average at $1,643, a level it hasn’t traded above since the end of March, in order to project into a new trading range.

In the overnight session, the yellow metal was able to catch bids on the back of two headlines.  First, China hinted that fresh economic stimulus could be on the horizon in the second half of the year.  Second, the USD began to materially weaken against the euro as rumors circulated that the European Central bank would step up efforts to aid peripheral euro-zone economies.  Considering that gold had pressured the $1,630 area fifteen times in the last three months, these two developments proved to be enough to finally allow the yellow metal to trigger stops and break above $1,630.  There was even a 7,000 lot (700,000 toz) buy sweep on the Comex electronic system that caused gold to spike to $1,638 from $1,630 in a matter of seconds.   While today’s move is encouraging, gold bugs should be cognizant of the fact that the move higher is happening on what is still considered lackluster overall volume.

 

Comments | Posted By Jamie Cohen

Violence in South African mining operation

Tuesday, August 14, 2012 10:47:40 AM America/Toronto

You know you’re in the midst of the summer doldrums when after being gone for a week on vacation, you come back, and all four precious metals are trading at the same exact price…  On increasingly thin volume, gold continues its consolidation with August’s range now inside of July’s which was inside June’s which was inside May’s.  The $1,628 – $1,630 area remains significant resistance which was failed at yet again in the last two trading days.  Since the beginning of June, $1,630 has been approached, but never closed above, a whopping 15 times.  With September just around the corner and considering that it is normally a bullish month for precious metals as investors return from summer keen on allocating funds, this $1,630 area in gold will almost assuredly be tested yet again in the early fall.  To the downside, support is coming in at a trendline at $1,572 and then below there at the low from 2012 of $1,527.  Despite the immediate risk and momentum seeming to be for lower gold prices in the next two weeks, traders should be wary about being short any of the precious metals as September arrives.

While news was fairly subdued overnight, participants who focus on the platinum group metals are closely monitoring developing headlines in South Africa.  In the past few days, nine people have been killed in violence related to Lonmin’s Western South African mining operation.  The situation seems to be a result of two rival unions, the established NUM and the newer AMCU, competing to attract members in order to more effectively negotiate with Lonmin.  Further escalation of this story will certainly compromise Lonmin’s mining operation and therefore could potentially cause a squeeze in platinum in the short term.

 

Comments | Posted By Jamie Cohen

Waiting for the next impetus to drive gold and silver higher

Thursday, July 19, 2012 11:10:35 AM America/Toronto

As the summer slowly drags on, the consolidation in the precious metals complex continues as volatility, volume, and ranges become increasingly depressed.   Without any major impetuses to drive it higher, gold has been capped by producer sales and resting speculative offers at the psychological level of $1,600 in three of the last ten trading sessions.   Its broad range in the last two weeks has not even been $50 as many market participants are on the sidelines either for the summer or awaiting news to galvanize the markets.  While it seems like the overall risk for gold remains to the downside, keep an eye out for a potential squeeze on the euro which has accumulated a huge speculative short position over the last few months.  Such a move in the euro could give gold legs in the near term.

Unemployment claims came out slightly worse than anticipated this morning at 386k versus an expectation of 367k.  The markets seem unfazed by the figure and economic data for the rest of the day as well as tomorrow is fairly bland.  It should be a quiet close to the week as July meanders on…

 

Gold

Silver

Platinum

Palladium

High

$1,591.50

$27.58

$1,425.25

$584.50

Low

$1,573.25

$27.17

$1,407.50

$576.00

Last

$1,587.70

$27.40

$1,418.00

$582.50

 

0 Comments | Posted By Jamie Cohen

Germany-wants to make lawful that debts have to be backed by gold

Tuesday, June 12, 2012 11:16:36 AM America/Toronto

The European crisis-precious metals investing

  • Gold: $1620
  • Silver: $28.9
  • Platinum: $1464
  • Palladium: $624

Hello to all. This has been a very interesting week. Europe, as always it seems, is in the spotlight. Over the weekend Spain announced a 125 billion euro ‘bailout’ of their banks. This sent stock markets soaring on Monday, for only about a few hours, as even the Spanish stock market closed down on the day after being up 6% at one point. This is yet another example of European leaders kicking the can down the road. The problems and bailouts in Europe have piled up like a big pile of stinking smelly $@%!. Markets recognize it, and gold recognizes it as it is comfortable back above the $1600 mark. To all that were able to buy the most recent dip in gold, kudos. As we had predicted the price dropped under $1600 presenting a very good buying opportunity for physical bullion purchases. Gold is back above $1600 and it appears $1600 may act as a new support price. This is a leg-up from the support we saw at $1550 through the month of may. There is some extremely telling news out of china that legendary precious metals investor Eric Sprott covers in a short piece a few days ago titled ‘Gold Alert’. He goes over recent Chinese physical precious metals purchases as well as other very important points about the world of physical gold. The link to that article can be found just below and I urge our readers to read over the report. (he really saved me a lot of research time this week with this) 

The most important thing to come out of Europe this past week was not the Spanish bailout. It was the announcement that Germany wants to make lawful that debts have to be backed by gold, and if unpaid, Germany can redeem the debts of its fellow euro members in physical gold. Italy in particular has $128 billion in Gold reserves which can be used to back new euro-area bonds. There is a fantastic article in the Globe and Mail in which the author explains simply what a rejection or acceptance of the policy really means for the future of gold and of the euro as a trusted currency. He goes on to say that backing the euro with gold would strengthen the euro, and I strongly agree! That article can be found here: http://www.theglobeandmail.com/report-on-business/international-business/european-business/a-golden-idea-to-save-or-doom-the-euro/article4243556/.

That is all for this week. As always feel free to call or email us with any questions, concerns, or if you are looking for more articles about precious metals bullion and precious metals investing.

All the best!

Comments | Posted By Jamie Cohen

Bullish bets in gold at their highest level in 5 months

Sunday, March 4, 2012 12:06:26 PM America/Toronto

Investing in metals

FUNDAMENTALS

  • Spot gold was little changed at $1,712.36 an ounce by 0041 GMT, after posting a weekly decline of 3.9 percent in the previous session.
  • U.S. gold edged up 0.2 percent to $1,713.80.
  • Spain set itself a softer deficit target for 2012 than originally agreed under the euro zone’s austerity drive, putting a question mark over the credibility of the European Union’s new fiscal pact.
  • Money managers, including hedge funds and other large speculators, raised their bullish bets in gold to the highest evel in five month in the week of Feb. 28, as prices surged more than 4 percent to three-month highs before they corrected sharply.
  • Investors will be watching China’s annual meeting of parliament, the National People’s Congress, for hints of policy shifts that will direct the cause of the world’s second largest economy

 

 

Comments | Posted By Jamie Cohen