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precious metals and numismatic news

 

September, 2003 Articles

American Numismatic Rarities Capitalizes on Strong Market
638 Lots Bring $4.8 Million in Winning Bids in Beverly Hills

09/29/2003

(BEVERLY HILLS – SEPTEMBER 15) The latest effort of the American Numismatic Rarities team, the September 13 Classics Sale held in Beverly Hills, realized just under $4.8 Million, the firm announced today. The 638-lot auction included a vast array of superb quality U.S. coins, highlighted by the historic offering of the East Coast Collection of pattern Seated and Trade dollars which comprised lots 50 to 103.
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[image] Swiss National Bank - Next tranche of gold sales - Press Release
09/26/2003

SWISS NATIONAL BANK - Since May 2000, the Swiss National Bank has put a total of 886 tonnes of gold on the market within the framework of its programme for the sale of 1,300 tonnes of gold. Until the end of September 2004, the National Bank will sell another 284 tonnes of gold. Thus, 1,170 tonnes will have been sold ...
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Bullion leaps over seven-year hurdle
09/25/2003

FINANCIAL TIMES - Gold jumped about $5 to break a seven year high on Thursday, a point it has threatened to break during the past week as bullion continues to benefit from a weaker dollar, concerns about rising inflation and lingering geopolitical concerns. Gold has risen about 14 per cent since the start of August, attracting record speculative interest in gold futures on the Comex exchange in New York...
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Gold Prices Rise, Fuel Proclamations at Denver Gold Forum
09/24/2003

THE DENVER POST - Gold prices rose Monday to a seven-year high, fueling bullish proclamations at the Denver Gold Forum investment symposium. Gold futures that hit $388 an ounce Monday could be headed as high as $500 within the next year, speculated Martin Murenbeeld ...
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[image] Gold set to challenge $418 by year's end -Barclays
09/22/2003

REUTERS - Investment bank Barclays Capital said on Monday gold prices could hit $418 an ounce by the end of the year as unprecedented speculative long positions on the U.S. futures market power the metal through highs last seen in 1996...
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Russia wants to boost gold reserves-Central Bank
09/21/2003 7:15 PM EST

REUTERS - Russia would like to increase the percentage of foreign exchange reserves it holds in gold but it is not in a position to do any buying at the moment, first deputy governor of the central bank said on Sunday...
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[image] Newmont sees "substantial" gold price potential
09/17/2003 9:30AM EST

FORBES - Newmont Mining Corp sees a substantial possibility of higher gold prices but will continue to develop low-cost mines and cut debt to hedge against any future price fall, its chairman said on Tuesday... > More >



MOBILE PHONES 'MAKE YOU SENILE'...
09/15/2003

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JP Morgan sees higher levels still for soaring gold price
09/12/2003 Source: Independent, The London (UK)

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U.S. Warns Al-Qaeda May Be Planning Chemical, Biological Attack
09/11/2003 07:30 AM EST

Sept. 11 (Bloomberg) -- The al-Qaeda terrorist network may be planning attacks more devastating than those of Sept. 11, 2001, possibly involving chemical or biological agents, the U.S. government said in a worldwide advisory to its citizens. > More >



Race to the Bottom
He Loves Gold – Gobs and Gobs of It

09/08/2003
BY ROBIN GOLDWYN BLUMENTHAL

Barrons Online
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Federal Deficit Set To Soar Another $900 Billion In Next 2 Years
09/05/2003 6:29 AM EST


When the Congressional Budget Office (CBO) projected last week that the federal deficit would top $900 billion over the next two years, Republicans blamed the record red ink on a weak economy, while Democrats assailed President Bush's tax cuts.
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WGC gold fund clears legal hurdle
09/05/2003 1:00 PM EST


MINEWEB - Senior gold industry sources tell Mineweb that the Bank of New York has agreed to waive its claim against the World Gold Council’s stalled exchange traded gold fund, Equity Gold. The settlement clears the way for the imminent launch of Equity Gold which is backed... > More >



Newmont Chief Sees Gold at $6,000
09/04/2003 1:00 PM EST
By Al Lewis, Business Editor, Denver Post


Newmont Mining president Pierre Lassonde forks over a $1 million bill. Visually, it's as impressive as any U.S. currency. It's even meticulously printed on similar paper. > More >



Reuters: Canadian gold reserves dwindling fast
09/04/2003 9:41 AM EST

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[image] China's gold rush
09/29/2003

CHINA DAILY - Prominent gold experts and officials are urrging the government to lift the ban on individual trading in the precious metal as soon as possible, as quoted prices at the Shanghai Gold Exchange (SGE) continually hit record highs this month amid a surge in buying enthusiasm...
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[image] Gold stable in Asia as currencies hit dollar
09/26/2003

REUTERS - Gold was stable in Asian markets on Friday, after an overnight sell-off as the U.S. dollar weakened against the yen and the euro. The hobbled dollar was expected to draw more European investors into gold later on Friday, though activity in Asia "could hardly be called a stampede," ...
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NY Precious Metals Review: Gold Ends Near Recent Highs - Soft Dollar, Higher Oil Price, Weak Equities All Support Gold
09/24/2003

OSTERDOWJONES - Comex Dec gold futures settled $1.40 higher at $388.40 per ounce Wednesday after continued weakness in the U.S. dollar combined with markedly lower equity markets sustained investor and speculator interest in gold...
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[image] ECB's Welteke: Euro, Gold Agreement and Rates - AUDIO
09/23/2003

BLOOMBERG - European Central Bank council member Ernst Welteke talks with Bloomberg's Kuzey Esener in Dubai about the possibility that central bankers might renew a 1999 agreement on limiting gold sales...
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Central bankers briefly discuss new gold sales deal
09/21/2003 7:00 PM EST

REUTERS - Central bankers meeting in Dubai briefly discussed a new gold sales deal on Saturday to replace an existing one that expires next September, Bank of Canada Governor David Dodge said. "It was very brief and that was all," Dodge said, in response to a question on whether there had been any kind of talk among central bankers about gold sales...
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[image] Central bankers to discuss new gold sales agreement
09/19/2003 2:50 PM EST

REUTERS - Central bankers at a Group of Seven industrialized nations meeting in Dubai will initiate talks on a new gold deal on Saturday under which sales could rise in stages from 400 tonnes a year, a G7 official said on Friday. It would be for another five years and they will discuss it tomorrow (Saturday)...
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U.S. Alleges Syria Is Seeking Banned Arms
09/17/2003

(AP) - Syria is allowing militants to cross its border into Iraq to kill U.S. soldiers and is aggressively seeking to acquire and develop chemical, biological and nuclear weapons, a senior Bush administration official said Tuesday. John Bolton, undersecretary of state for arms control, told a House hearing the United States was trying to change Syria's behavior through diplomatic means and urged lawmakers to let the effort run its course before passing trade restrictions and other measures. > More >



In the NEWS: $2 Million 1913 Liberty Nickel Found
09/15/2003

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Clouds over US trigger rash of selling, rush to gold
09/13/2003 By Allison Jackson

The second anniversary of the September 11 terrorist attacks and weakness in the US labour market cast a shadow over global sharemarkets this week as nervous investors took profits during a lull in the US economic recovery story. > More >



GATA: Blanchard & Co.'s Gold Price-Fixing Lawsuit Against Barrick and Morgan Chase Can Proceed
09/09/2003 07:30 AM EST

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Asia Asian debt withdrawal threat to US deficit
09/07/2003 7:01 PM EST
By Jenny Wiggins in New York


Economists fear that Asian investors, who are the largest foreign owners of US Treasuries, may cut their holdings of US government debt, withdrawing a key source of financing for America's large current account deficit. The worries have been fuelled by recent sharp falls in the price of US government debt.Weakness in the US Treasury market could make Asian investors "less willing" buyers of debt securities, said Marcel Kasumovich, head of G10 foreign exchange strategy at Merrill Lynch.
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Palladium hits 5-mth high, improved demand seen
09/05/2003 5:31 AM EST


REUTERS - Palladium spurted to a five-month peak on Friday as speculators placed their bets on increased demand for the precious metal due to its cheap price compared with sister metal platinum. Platinum group metals, which can both be used by car manufacturers to clean exhaust fumes, have benefited from a flurry of investor buying in the precious metals sector over the past couple of weeks... > More >



COMEX gold jumps to 7-month high on weak jobs data
09/05/2003 22:50 PM EST


REUTERS - COMEX gold rose to a 7-month high Friday after unsatisfying U.S. employment figures rocked Wall Street, pressured the dollar and created bottlenecks in precious metals as funds sought alternative investments. Silver rose more than gold, and palladium futures rushed to contract highs on speculation... > More >



Smith Barney unpacks copper-gold rally
09/04/2003 5:00 PM EST
By Tim Wood


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Why Gold's Glittering
09/03/2003 10:00 AM EST
By Justin Lahart, CNN/Money Senior Writer


The upswing in gold prices may be due to countries' efforts to keep their currencies weak. > More >