Archive for November, 2009


A Mad Rush as Gold Bugs Get the Boot

Filed Under: Bullion, Gold, Silver by jasonogrady — Comments Off
November 24, 2009

[gold]
Interesting article from the WSJ about how HSBC PLC owner of one of the biggest vaults in the U.S. is telling it’s clients to remove their gold from its vaults.

Fleets of armored trucks piled with gold bars and coins have been streaming out of midtown Manhattan in one unexpected consequence of the gold craze.

Amid gold’s rise — it has gained 32% this year and reached a record on Monday — investors have been loading up on bullion and coins. One big problem now is where to store it. The solution from HSBC, owner of one of the biggest vaults in the U.S.: somewhere else.

HSBC has told retail clients to remove their small holdings from its fortress beneath its tower on New York City’s Fifth Avenue. The bank has decided retail customers aren’t profitable enough and is demanding those clients remove their gold to make room for more lucrative institutional customers.

Source: WSJ

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2010 Numismatic Events

Filed Under: ANA, Event by jasonogrady — Comments Off
November 12, 2009

2010 is shaping up to be quite a year in the Numismatic community. Here’s a quickee event schedule of Numismatic events that are scheduled for 2010. We’ll review them in detail at the December 2, 2009 ACNS meeting, but it’s never too late to put them into your calendar now!

  • January 7-10 –  FUN Show – Orlando, FL
  • March 25-28 –  ANA National Money Show – Fort Worth, TX
  • April 19-25 – National Coin Week
  • June 26 – July 2 – ANA Summer Seminar I – Colorado Springs, CO
  • July 3-8 – ANA Summer Seminar II – Colorado Springs, CO
  • August 11-15 – ANA Worlds Fair of Money – Boston, MA
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Gold Bulls Set New Target For Rally: $1,300 an Ounce

Filed Under: Bullion, Gold by jasonogrady — Comments Off
November 12, 2009

Another good Gold article from WSJ.

Gold prices could rise to as high as $1,300 an ounce in the near-term as inflation concerns and the likelihood of continuing dollar weakness draws buyers.

Gold set a record Wednesday, building on this month’s rally.

The nearby November contract rose $12.10 to $1,114, after setting an intraday record of $1,117.60 on the Comex division of the New York Mercantile Exchange. Most-active December gold also rose $12.10, to $1,114.60. Spot gold hit $1,118.70.

The November gold contract has risen nearly 7.2% this month and is up 26% for the year.

The dollar is likely to remain weak as long as U.S. interest rates remain low, making gold an attractive alternative to paper currency.

Source: WSJ

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