Gold Price Pounded by Dollar

Publish on TheStreet.com by Alix Steel
December 23, 2010 8:55am EST

The US dollar index hit a 3.5 month high on Tuesday. This pushed Gold prices under $1.100/oz. Currently the US dollar is losing some ground, falling .25% to $78.11, while Gold was flat at $1,087/oz, but volatility is expected to continue into 2010 on light volume and more long selling. James Moore, analyst at thebulliondesk.com was quoted as stating "In the run-up to year end, we expect Gold to see further pockets of long liquidation, potentially pulling back to the $1,050 area", To read the entire article go here. Check out TheStreet for the latest stock market news and finacial investment headlines.

We Pay $$$ for Silver and Gold

We Pay $$$ for Silver and Gold

This Ad is posted on Corkin.com. Never heard of them before today but apparently an new online community.

We Pay $$$ for Silver and Gold (Baton Rouge, Louisiana)

We Pay $$$ for Silver and Gold (Baton Rouge, Louisiana)

Is it Sterling?

The most common questions asked by a seller when I am buying scrap silver:

Is it Sterling?
Is my silver Sterling or silver plated?
What is the difference between Sterling silver and silver plate?

Most Sterling made in the US is marked either Sterling, .925, or 925/1000. If your silver was made in the US and does not have one of these three marks, most likely it is silver plated.

Sterling produced in Great Britain usually have makers marks such as a lion crest or dragon crest. I will have to look up some photos of these makers marks to post.

The Golden Truth: A London Silver Trader Challenges The CFTC

On Friday, November 27, 2009 the following letter written by a London-based silver trader to CFTC Commissioner Bart Chilton appeared in Friday's Midas report. The Golden Truth posted this account for those who do not subscribe to the Midas Report.

Anyone who follows the gold and silver markets knows about the severe imbalance which has occurred for several years between the size of the short interest in gold and silver futures vs. the amount of physical gold and silver sitting in Comex warehouses. As an example, JP Morgan and HSBC combined (and it's mostly JPM's short) have a short position which represents 199 million ounces. This is nearly 4 times the amount of silver currently listed as "registered," or available for delivery.

In any other instance,with any other commodity, the CFTC (Commidity Futures Trading Commission), which is the Governmental body which regulates commodities trading, has always enforced "market concentration" regulations and restricted the size of the long or short position which can be held by any firm in that specific commodity. There is usually a standard applied which measures the amount of short/long interest in a given commodity vs. its available supply on the exchange.

To read the whole article go to:

The Golden Truth: A London Silver Trader Challenges The CFTC

New 52 Week High

Silver hit a new 52 week high today at $19.47 an troy ounce. I also have stock in SIVR, an ETF that tracks the spot price of silver. Both stock price and physical silver price was at a 52 week high today before dropping down to around $19.28. I am not selling but I like to see the price go up on any investment.