Posts Tagged With: investment

Precious Metals Market Update………..


The metals markets open the new week battered after a second week of heavy selling that pushed prices through lower support levels. These prices have not been seen since last August.

Prices suffered last week after traders in the futures markets sold in reaction to bearish technical signals, including gold’s 50-day average price falling below the 200-day average. Investors also reacted to the release of the latest Federal Reserve meeting minutes which included hints that the Fed may need to tighten monetary policy.

As usual, the heavy selling in futures markets was met with heavy buying in the physical bullion markets. Bargain hunters came out to take advantage of the big downward move and kept our Specialists at Independent Living Bullion very busy.
Current spot prices:
Gold: $1,590oz, down $21 (was $1,611) from this time a week ago.
Silver: $29.10- down $.99 (was $30.09) week-over-week.
Platinum: $1,623 – down $67 (was $1,690) since last Monday.
Palladium: $753/oz – down $8 (was $761) from this time a week ago.

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Legal pot in Colo., Wash. poses growing dilemma…..


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It may be called weed, but marijuana is legendarily hard to grow.
Now that the drug has been made legal in Washington and Colorado, growers face a dilemma. State-sanctioned gardening coaches can help folks cultivate tomatoes or zucchini, but both states have instructed them not to show people the best way to grow marijuana. The situation is similar in more than a dozen additional states that allow people to grow the drug with medical permission.
That’s leaving some would-be marijuana gardeners looking to the private sector for help raising the temperamental plant.
“We can’t go there,” said Brian Clark, a spokesman for Washington State University in Pullman, which runs the state’s extension services for gardening and agriculture. “It violates federal law, and we are a federally funded organization.”
The issue came up because people are starting to ask master gardeners for help in growing cannabis, Clark said. Master gardeners are volunteers who work through state university systems to provide horticultural tips in their communities.
The situation is the same in Colorado, where Colorado State University in Fort Collins recently added a marijuana policy to its extension office, warning that any employee who provides growing assistance acts outside the scope of his or her job and “assumes personal liability for such action.”
The growing predicament is just the latest quandary for these states that last year flouted federal drug law by removing criminal penalties for adults over 21 with small amounts of pot. In Washington, home-growing is banned, but it will be legal to grow pot commercially once state officials establish rules and regulations.
In Colorado, adults are allowed to grow up to six marijuana plants in their own homes, so long as they’re in a locked location out of public view.
At least two Colorado entrepreneurs are taking advantage of that aspect of the law; they’re offering growing classes that have attracted wannabe professional growers, current users looking to save money by growing their own pot and a few baby boomers who haven’t grown pot in decades and don’t feel comfortable going to a marijuana dispensary.
“We’ve been doing this on our own, but I wanted to learn to grow better,” said Ginger Grinder, a medical marijuana patient from Portales, N.M., who drove to Denver for a “Marijuana 101” class she saw advertised online.
Grinder, a stay-at-home mom who suffers from lupus and fibromyalgia, joined about 20 other students earlier this month for a daylong crash course in growing the finicky marijuana plant.
Taught in a rented room at a public university, the course had students practicing on tomato plants because pot is prohibited on campus. The group took notes on fertilizer and fancy hydroponic growing systems, and snipped pieces of tomato plants to practice cloning, a common practice for nascent pot growers to start raising weed from a “mother” marijuana plant.
Ted Smith, a longtime instructor at an indoor gardening shop, led the class, and warned these gardeners that their task won’t be easy. Marijuana is fickle, he said. It’s prone to mildews and molds, picky about temperature and pH level, intolerant to tap water.
A precise schedule is also a must, Smith warned, with set light and dark cycles and watering at the same time each day. Unlike many house plants, Smith warned, marijuana left alone for a long weekend can curl and die.
“Just like the military … they need to know when they’re getting their water and chow,” Smith said of the plants.
The class was the brainchild of Matt Jones, a 24-year-old Web developer who wanted to get into the marijuana business without raising or selling it himself. As a teenager, Jones once tried to grow pot himself in empty Home Depot paint buckets. He used tap water and overwatered, and the marijuana wilted and died.
“It was a disaster,” he recalled. Jones organized the class and an online “THC University” for home growers, but his own thumb isn’t green. Jones said he’ll be buying his marijuana from professional growers.

The course showed would-be grower Cael Nodd, a 34-year-old stagehand in Denver, that marijuana gardening can be an intimidating prospect.
“It seems like there’s going to be a sizable investment,” he said. “I want something that really tastes good. Doesn’t seem like it will be that easy.”

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US Mint runs out of 2013 silver coins……


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The U.S. Mint has suspended sales of its 2013 American Eagle silver bullion coins after running out of stock due to soaring investor demand for the newly minted coins in the first two weeks of the year.

Sales to authorized dealers will resume on or about the week of Jan. 28 after the U.S. Mint has replenished its inventory, it said in an email to authorized dealers on Thursday. The coins are produced at the Mint’s West Point, New York, facility.

While it is typical for collectors to snap up newly stamped coins, interest this year has ballooned due to investors seeking refuge from U.S. economic uncertainty.

Silver Eagle sales to Jan. 15 exceeded 5 million ounces and were on track to surpass the all-time monthly high of 6.1 million ounces, set in January 2012.

Physical coin sales had risen in the final months of 2012 as investors protected their nest eggs from a feared U.S. recession. Many economists predicted a U.S. economic downturn would occur if Congress and the White House did not act to stop pending huge tax hikes and automatic spending cuts known as the “fiscal cliff.”

It is not the first time the Mint has faced a run on its stock. It started allocating sales to authorized dealers in recent years after its supplies were depleted by unprecedented demand.

The Mint had been due to start taking orders for coins, which fetch just under $63 each, from the general public on Jan. 24.

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Precious Metals update…..


gold trades at $1,663/oz, up $3 from last week. Spot silver trades at $30.15 – down 5 cents from a week ago.
Platinum and Palladium are set to finish 2012 outperforming gold and silver – both up roughly 10%. Currently platinum trades at $1,527/oz (down $20 versus last Monday). The palladium spot price is $703/oz up $12 week over week

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Precious Metals Market Update……


December 3, 2012 – Precious metals are flat this morning as the markets look to recover from last week’s price correction. All eyes continue to be on the debate in Washington DC surrounding the “fiscal cliff.”

Gold is trading near $1,715, and silver is up slightly at $33.71. Platinum is down slightly at $1,603 while palladium is flat at $686.
BEWARE….scammers are working the phones hot and heavy selling “rare” coins for investment…many of these coins are over priced and are NOT investment material.
The American Gold Eagle is the ONLY reliable gold coin to purchase…buy through a local dealer, not over the phone or on a web page.

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Precious Metals Market Update…..


As Americans prepare for Turkey Day, the threat of Washington “gobbling” up more in taxes could continue to weigh on markets. The upshot is that precious metals appear to be resuming their role as a safe haven in this politically treacherous environment.
Gold and silver have shown remarkable resilience to adverse equity market conditions seen since the election. Over the same period that the S&P 500 has fallen roughly 5%, precious metals have traded modestly higher.
Last week, gold and silver relinquished some of the prior week’s big gains, but have been building a strong base for a likely rally into 2013. For the week, gold fell $17/oz (-1.0%) to $1,715. Silver lost $0.30/oz (-0.9%) and finished at $32.37. Both gold and silver are up substantially this morning.
Platinum and Palladium dodged the negative sentiment impacting most asset markets and put on some gains. Platinum rose $6/oz (+0.4%) to end the week at $1,564. Palladium – the best performing precious metal during the week – jumped $20/oz (+3.3%), closing at $631/oz.

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