Spot Price Drop

Recent price drops to the value of gold have resulted in a surge of buying worldwide for precious metals.   These drops were record drops not seen since the early 1980's.  Many experts believe that the recent price drop was a result of speculative gold traders operating in future markets, which was in sharp contrast to long term gold investors who are now buying the metal at record pace.

Therefore, a significant amount of buyers are viewing this as an opportunity to buy gold at prices not seen in recent years.  In many countries, buyers are now willing to buy $26 per troy ounce over London Fix spot price.  This bullish attitude has led to shortages of both gold bars and coins in Dubai, among many other international markets.

Boston Marathon

Sending our thoughts and prayers to everyone effected by the recent tragedy in the great city of Boston.  

PT - Platinum

Atomic Number: 78

Atomic Weight: 195.084

Melting Point: 2041.55 K (1768.4°C or 3215.1°F)

Boiling Point: 4098 K (3825°C or 6917°F)

Density: 21.46 grams per cubic centimeter

Phase at Room Temperature: Solid

Element Classification: Metal

Period Number: 6    Group Number: 10    Group Name: none

Gold prices remain steady to start week

Gold prices remained little changed to the start the week of trading on Monday morning. Prices continue to hover around $1,600 per ounce.  Last week, due to heightened fears about the economy of Cyprus, gold prices hit a three-month high of $1,616 per ounce.  Yet most of the fears of the market crashing in Cyprus have subsided drastically from a week ago. Beyond Europe, there are still a number of other factors for investors to create demand for bullion this week. North Korea has recently threatened to attack the U.S.  Furthermore, traders and investors are awaiting Friday’s release of the U.S. employment report, which is one of the most important U.S. economic reports this month.