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Millionaire Now! by Larry NusbaumThis blog is based on the organizational principles found in my new book, "Millionaire Now! - A Financial Toolbox with Seven Steps to Wealth". |
WORLD GOLD INDICES
Gold Seeker Weekly Wrap-Up: Gold and Silver Gain Over 4% on Week
By: Chris Mullen, Gold-Seeker.com - Spot gold rose to its highest today since May 2006 when it climbed to as high as $725 for the first time in 25 years. Gold traded mixed in Asia and London and then spiked higher following the release of poor jobs data in New York. After seeing over $10 gains and climbing over $706 by 10AM EST, gold did moderate a bit into the close, but it still ended with a gain of 0.81%. Silver climbed over $12.60 before it also cut some of its gains by early afternoon, but it then spiked back higher in afternoon trade and ended near its session high with a gain of 1.54%.
- Junk U.S. 90% silver coins, often called circulated silver coins, minted before 1965 are a popular way to buy silver bullion. A "bag," ($1000 face) contains approximately 715 ounces of silver and generally tracks the spot price of silver. If silver goes up ten cents, a bag of 90% silver coins rises $70 or so; however, junk silver coin prices sometimes lag sharp spot price changes.
- Why Buy Junk 90% Silver Coins?
Although many investors buy junk silver coins as bullion investments, other investors buy junk 90% silver coins for "survival purposes." These buyers fear the worst for the dollar, that it will be printed until it becomes worthless. If this "worst-case scenario" were to become reality, then U.S. 90% silver coins would be used the purpose they were originally minted: as money.
Throughout this recent crisis, gold and silver values have not depreciated to any meaningful extent. Most of the related stocks, on the other hand, were down 20% to 40% but have started to move up. I suggest that, at these low levels, the fundamentally sound companies are the ones that we all should be looking at. I also suggest that physical gold and physical silver are not a bad place to be because when their respective prices are as resilient as they have been, given recent market conditions, that is an indication of real strength and potential future appreciation. Read WHICH MINING STOCKS I LIKE NOW for some ideas. Then, sort using Gold & Silver: Company Rankings from Reuters.
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Why I traded the stock ME today. I had it on my list fr [read more]
NOTE: Please click on the charts below to enlarge them if [read more]
NOTE: Please click on the charts below to enlarge them if [read more]
1 Comments:
Investing In Gold 2008 Learn About the Five Reasons You Should Own Gold in 2008 I did click here and get free
information and pricing like I did a few months ago when it was lower. They give free information so click this link and fill out your name and get a free catalog of all type of gold and silver coins catalog.
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