Wednesday, August 13, 2014

P.M. Kitco Metals Roundup: Gold Gets Boost from U.S. Retail Sales Report Miss

Gold prices ended the U.S. day session modestly lower Wednesday. The yellow metal was lifted following a weaker-than-expected U.S. economic report after trading weaker overnight. A stronger U.S. dollar index that is hovering near a six-month high limited the upside in gold. December Comex gold was last up $3.90 at $1,314.50 an ounce. Spot gold was last quoted up $4.50 at $1,313.50. December Comex silver last traded down $0.05 at $19.92 an ounce. U.S. retail sales in July were reported unchanged Thursday morning, following a 0.2% rise in June. Forecasts were calling for a rise of 0.2% to 0.3% in retail sales. The miss on this key U.S. economic report prompted a modest rally in the gold market that held into the close of U.S. futures trading. While there are still geopolitical hotspots in the world that the market place is monitoring, traders this week appear to have a bit more risk appetite. Many market participants are focused on late-summer vacations and other outdoor activities. However, any flare-up will likely jolt traders and investors back into a keener risk-averse posture. I suspect geopolitics will be back on the front burner of the market place sooner rather than later.

Full Article Here: http://www.kitco.com/news/2014-08-13/Gold-Gets-Boost-from-US-Retail-Sales-Report-Miss.html

 

Wednesday, September 14, 2011

New Risks For A Market Already Under Great Stress

The prices of gold and silver were subdued for so long but no more, greater swings in metals forecast, a new scenario today for this current phase of the metals market, new bumps in the road to look out for, purchasing power robbed with the printing of money, deficits out of control. In the case for gold and silver, it has been go long and stay long for 11 years. During that period great gains have been made during what was the formidable first phase of the gold and silver bull market. Gold was $260.00 and silver was $3.50. Some stocks rose from $4.00 to $86.00, some from $0.80 to $42.00. This performance in spite of gold and silver suppression by the US government. In their desire to keep gold and silver subdued all the government really accomplished was to offer an opportunity for buyers to buy at lower prices than they normally would have been able too. In that process buyers have been able to stay ahead of inflation and many have made large profits. We have convinced almost all not to try to trade these markets, because they have not been professionally trained to do so. That concept has worked quite well and will continue to do so. The problem with novice trading is that if you get out you may never get back in. You must outsmart the market ignoring the gyrations and stick to the long-term objective. This bull market in gold and silver, now almost 11-1/2 years old will probably last another 5 to 10 years even if the system collapses. In the end our formula has worked well and avoided commission costs, something we are acutely aware of having been in the brokerage business for almost 30 years.

Full Article Here: http://theinternationalforecaster.com/International_Forecaster_Weekly

 

Tuesday, August 10, 2010

New 1099 law put in perspective-read below

Completely Impractical Let`s try to put this new law into perspective. Let`s say you own a hair salon in which you vend both services and products. In this hair salon you have probably 500 different hair, nail, and skin products, from 50+ different vendors. For each vender that sells you more than $600 of merchandise you`ll have to fill out a 1099. Should you advertise your location and spend more than $600, you`ll have to fill out another. Should you buy ink, staples, pens, paper, etc to stock your business you`ll fill out even more 1099s. Then, when paying rent to your landlord, you`ll have to give them another 1099. Can you see where this is going? Every business of every size is soon to have a HUGE accounting nightmare. Can you imagine keeping all these records? Oh, It Gets Worse Should businesses fail to get the proper paperwork in place, they cannot receive a payment. That`s right. By law, businesses that do not get a tax identification number (TIN) or social security number (SSN) are REQUIRED to withhold the payment.

Full Article Here: http://www.investingblog.org/archives/637/big-changes-to-irs-form-1099-in-2011/"

 

Tuesday, August 10, 2010

IRS Tax law requiring 1099 for purchases $600+

Amendment Slipped Into Health Care Legislation Would Track, Tax Coin and Bullion Transactions Those already outraged by the president`s health care legislation now have a new bone of contention - a scarcely noticed tack-on provision to the law that puts gold coin buyers and sellers under closer government scrutiny. The issue is rising to the fore just as gold coin dealers are attracting attention over sales tactics. Section 9006 of the Patient Protection and Affordable Care Act will amend the Internal Revenue Code to expand the scope of Form 1099. Currently, 1099 forms are used to track and report the miscellaneous income associated with services rendered by independent contractors or self-employed individuals.

Full Article Here: http://www.thelibertyvoice.com/gold-coin-sellers-angered-by-new-tax-law"

 

Tuesday, April 20, 2010

Chantilly Expo Coin Show April 23-25, 2010

Apr 23-25 VA, Chantilly. Dulles Coin & Currency Expo. Dulles Expo Center & Conference Center, 4368 Chantilly Shopping Center, Free admission to the public.

Tuesday, April 20, 2010

2010 America the Beautiful Quarter Images Revealed by US Mint

The United States Mint has released images of the 2010 America the Beautiful Quarters. Numismatic silver versions of these same coins will be in two U.S. Mint silver products this year -- the 2010 US Mint Silver Proof Set and the 2010 America the Beautiful Quarters Silver Proof Set. They will also be duplicated in America the Beautiful Silver Bullions Coins -- the 3-inch diameter, 5-ounce silver coins that will be introduced later this summer. These coins will be composed of .999 fine silver. The fineness and weight will be edge-incused.

Full Article Here: http://www.silvercoinstoday.com/2010-america-the-beautiful-quarter-images-revealed-by-us-mint/102255/"

Tuesday, April 20, 2010

Silver Prices Fall Below $18/oz, Plunging

Silver prices skidded to a halt, breaking a two-week winning streak in New York. U.S. silver futures tumbled along with other commodities on Friday as Goldman Sachs Group Inc. was charged with fraud by U.S. regulators. New York silver futures for May delivery were set to end with a positive week, and then plunged 75.8 cents after the aforementioned news broke. The metal closed to $17.675 an ounce, falling 68 cents, or 3.7% for the week.

Full Article Here: http://www.silvercoinstoday.com/silver-prices-fall-below-18oz-plunging-with-other-commodities/102274/"

Wednesday, January 13, 2010

2010 American Veterans Disabled for Life Silver Dollar Images

The United States Mint just released high resolution images of the upcoming 2010 American Veterans Disabled for Life Commemorative Coins. Previously, interested collectors only had line-art illustrations of the silver dollars to imagine what they would look like. Now detailed samples of the proof and uncirculated coins are available. With an anticipated release of February, the coins honor disabled American Veterans who made enormous personal sacrifices in the service of their country. Legs and boots of three disabled veterans along with the inscription `THEY STOOD UP FOR US` are shown on the silver coin`s reverse.

Full Article Here: http://www.silvercoinstoday.com/2010-american-veterans-disabled-for-life-silver-dollar-images/101904/"

Wednesday, January 13, 2010

S Mint 2009 Silver Eagles Sell Out

2009 American Silver Eagle Bullion coins have sold out, the United States Mint announced late Tuesday morning. The remaining inventory was depleted earlier in the day, leaving Silver Eagles on the sidelines until Jan. 19. The US Mint reconfirmed today that the 19th is still the scheduled launch time for 2010 American Eagle gold and silver one ounce bullion coins. Unprecedented demand delayed the new year dated coins, which are usually minted in late November, sold to Mint authorized purchasers in late December and made available to an eagerly awaiting public in early January.

Full Article Here: http://www.coinnews.net/2010/01/12/us-mint-2009-silver-eagles-sell-out/"