Gold & Silver Bullion

Gold Prices Flat; Silver Struggles
The Street
Gold prices were relatively flat Monday as investors were distracted by a slew of mergers and acquisition news and tentatively bought stocks. Gold for December delivery was adding 80 cents to $1,229.60 an ounce at the Comex division of the New York Mercantile Exchange. The gold price Monday has traded as high as $1,234 and as low as $1,226.20. The U.S. dollar index was slipping 0.19% to $82.89 while the euro was flat at $1.27 vs. the dollar. The spot gold price Monday was down almost $2, according to Kitco’s gold index.
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Gold Market Dazed as India Gives a Miss to Festive Gusto
Commodity Online
The onset of the festive season in the Indian subcontinents has left India’s jewellery makers bewildered as the demand for the yellow metal did not match the expectations of the bullion marketers, who believed jewellery buying during festivities to shoot up despite peaking up prices. In India, MCX Gold for October contract traded at Rs.18698 per 10 grams, which was down by Rs.29 per 10 grams. In the spot markets as well, the prices remained lower. Gold Ahmedabad hovered at Rs.18660 down by Rs.65, while Gold Mumbai traded at Rs.18696.25 down by Rs.25 from its previous closing.
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Gold: The Shadow Currency
Seeking Alpha
What you read in the mainstream financial media about gold never ceases to amaze and amuse. About a week ago, in this item at the Wall Street Journal MarketBeat blog, Matt Phillips said he was pretty, pretty, pretty skeptical about the shiny rock save for his belief that it’s a bubble. Saturday, sitting in for Jason Zweig in writing the Weekend Investor column, Jeff Opdyke thinks that the shiny rock is some sort of a shadow currency.
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Gold Up-date: Have Faith in Gold
Kitco
A little over a week ago, U.S. Treasury Secretary Timothy Geithner wrote an article for the New York Times entitled Welcome To The Recovery in which he touted the great strides that the U.S. economy was making. But, with unemployment still dangerously high, foreclosures and personal bankruptcies continuing to set all-time records, shrinking manufacturing, burgeoning national debt, massive budget deficits, I can’t see any recovery at all.
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The 21st Century Yukon Gold Rush
Wealth Daily
The mining history books will have to be rewritten. Brand-new discoveries of large — and incredibly rich — gold deposits in Canada’s Yukon Territory have sparked the imaginations and excitement of geologists across the globe.And with these impressive discoveries, the Yukon Territory is once again gaining a reputation as one of the world’s hottest gold exploration targets. For investors, this means the opportunity to profit from ground-floor area plays in the rapidly re-emerging Yukon gold district — which geologists are already comparing to the world’s top gold regions.
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