Each weekday, Cash4Gold will troll through the web's gold banter and post some of the bigger or more interesting stories. Following is a run-down of today's features:
"Commodity prices hit amid growing risk aversion"
Author: Sara Lepro
Website: Google.com
Main Points: Reports of dipping consumer confidence in June combined with a strengthening dollar resulted in a lower gold price today. Gold for August delivery fell $13.30 to finish the session and month at $927.40 an ounce.
Analysis: It was the first gold drop in six sessions. However, considering the majority of increases have been moderate, this bad day for the yellow metal nearly wiped out the recent good.
It's been said that gold was stuck in a range between $920 and $940 an ounce. Piercing that barrier was believed to have been a sign that it had overcome that range. However, if today is any indication, gold is indeed range bound.
Tuesday, June 30, 2009
Monday, June 29, 2009
Today in Gold: Monday, June 29
Each weekday, Cash4Gold will troll through the web's gold banter and post some of the bigger or more interesting stories. Following is a run-down of today's features:
"Gold rises slightly as dollar weakens"
Author: Moming Zhou
Website: MarketWatch.com
Main Points: "Gold futures moved slightly higher Monday, rising for a fifth straight session as the U.S. dollar edged lower against its major rivals, raising the metal's investment appeal. August gold gained $1.20, or 0.1%, to $942.20 an ounce in early North American electronic trading. Gold ended last week's trading up for the first week in four."
Analysis: We've been hearing for the past few weeks or so that gold is stuck in a range between $920 and $940 an ounce. While it's difficult to get too excited when gold has pierced the edge of that range while carrying modest gains on a day to day basis, you can't dispute the truth: gold is heading in an upward direction, albeit on a rather deliberate path.
It was the second consecutive rise of less than $2 during a session, and only last Wednesday's progress ($10.10) was in double digits. Even so, it's been nothing but positive lately, and investors may grab onto that horse and ride.
"Gold rises slightly as dollar weakens"
Author: Moming Zhou
Website: MarketWatch.com
Main Points: "Gold futures moved slightly higher Monday, rising for a fifth straight session as the U.S. dollar edged lower against its major rivals, raising the metal's investment appeal. August gold gained $1.20, or 0.1%, to $942.20 an ounce in early North American electronic trading. Gold ended last week's trading up for the first week in four."
Analysis: We've been hearing for the past few weeks or so that gold is stuck in a range between $920 and $940 an ounce. While it's difficult to get too excited when gold has pierced the edge of that range while carrying modest gains on a day to day basis, you can't dispute the truth: gold is heading in an upward direction, albeit on a rather deliberate path.
It was the second consecutive rise of less than $2 during a session, and only last Wednesday's progress ($10.10) was in double digits. Even so, it's been nothing but positive lately, and investors may grab onto that horse and ride.
Cash4Gold CEO Jeff Aronson Appears on Hammertime Reality T.V. Show
Cash4Gold CEO Jeff Aronson made a guest appearance last night on M.C. Hammer’s reality series Hammertime.
Jeff was featured in a scene with Hammer, Hammer's father and brother and several other good friends who gathered for a late-night game of Texas Hold 'Em at Hammer’s house in Tracy, CA.
The camera crews were on-hand as Jeff and the guys hung out and played cards. Jeff also did a one-on-one interview in which he gave relationship advice to Hammer's cousin Marv, whose blind date was a featured element of last night's show.
Unfortunately for Marv, Jeff did not think the odds were too high that he would be able to achieve a second date.
While the footage did not make the final cut, Jeff also spent some time examining Hammer's five diamond awards for selling 50 million records, his three Grammys and his MTV "Moon Man" statuettes. No word yet from Cash4Gold on what kind of melt value those items would fetch...
Jeff was featured in a scene with Hammer, Hammer's father and brother and several other good friends who gathered for a late-night game of Texas Hold 'Em at Hammer’s house in Tracy, CA.
The camera crews were on-hand as Jeff and the guys hung out and played cards. Jeff also did a one-on-one interview in which he gave relationship advice to Hammer's cousin Marv, whose blind date was a featured element of last night's show.
Unfortunately for Marv, Jeff did not think the odds were too high that he would be able to achieve a second date.
While the footage did not make the final cut, Jeff also spent some time examining Hammer's five diamond awards for selling 50 million records, his three Grammys and his MTV "Moon Man" statuettes. No word yet from Cash4Gold on what kind of melt value those items would fetch...
Friday, June 26, 2009
Today in Gold: Friday, June 26
Each weekday, Cash4Gold will troll through the web's gold banter and post some of the bigger or more interesting stories. Following is a run-down of today's features:
"Gold rises slightly as dollar broadly drops"
Author: Frank Tang
Website: Reuters.com
Main Points: Gold finished the week relatively strong, ending up $1.50 today to close at $941 an ounce.
While gold has benefited largely from the weakening of the dollar, a strengthening economy and lessening inflationary fears have held it back.
"One of the reasons gold has been bought has been as an insurance premium against inflation, or against systemic risk from another camp of investors," said Peter Fertig of Quantitative Commodity Research. "At least for the latter group, their need to hold gold has clearly been reduced."
Analysis: Although this was the fourth consecutive day moving in an upward direction and the week was strong overall, gold still appears to be range bound. To regain its strength it needs something -- inflation, new poor economic data -- to support it. Otherwise, investors will continue to feel safe investing in riskier stocks and have little need for gold.
"Gold rises slightly as dollar broadly drops"
Author: Frank Tang
Website: Reuters.com
Main Points: Gold finished the week relatively strong, ending up $1.50 today to close at $941 an ounce.
While gold has benefited largely from the weakening of the dollar, a strengthening economy and lessening inflationary fears have held it back.
"One of the reasons gold has been bought has been as an insurance premium against inflation, or against systemic risk from another camp of investors," said Peter Fertig of Quantitative Commodity Research. "At least for the latter group, their need to hold gold has clearly been reduced."
Analysis: Although this was the fourth consecutive day moving in an upward direction and the week was strong overall, gold still appears to be range bound. To regain its strength it needs something -- inflation, new poor economic data -- to support it. Otherwise, investors will continue to feel safe investing in riskier stocks and have little need for gold.
Thursday, June 25, 2009
Today in Gold: Thursday, June 25
Each weekday, Cash4Gold will troll through the web's gold banter and post some of the bigger or more interesting stories. Following is a run-down of today's features:
"U.S. Markets Wrap: Stocks, Treasuries Rise on Bernanke Defense "
Author: Jeff Kearns and Margot Habiby
Website: Bloomberg.com
Main Points: The dollar weakened and oil rose during today's session. As a result, gold for August delivery finished up $5.10 to $939.50 an ounce.
Analysis: It was the third consecutive session that gold has closed with positive movement, rising a total of $18.50 during that period. It's a far cry from the past month or so when the price of gold was regularly losing double digits.
What does this mean? It's not clear. Gold once seemed destined to break $1,000 an ounce with nothing in its way. It then abruptly dropped to around $920 an ounce. It appeared that, with the economy rebounding and no imminent threat of inflation apparent, there was little resistance to gold falling further -- potentially below $900.
In other words, just when you think you have gold figured out, think again.
"U.S. Markets Wrap: Stocks, Treasuries Rise on Bernanke Defense "
Author: Jeff Kearns and Margot Habiby
Website: Bloomberg.com
Main Points: The dollar weakened and oil rose during today's session. As a result, gold for August delivery finished up $5.10 to $939.50 an ounce.
Analysis: It was the third consecutive session that gold has closed with positive movement, rising a total of $18.50 during that period. It's a far cry from the past month or so when the price of gold was regularly losing double digits.
What does this mean? It's not clear. Gold once seemed destined to break $1,000 an ounce with nothing in its way. It then abruptly dropped to around $920 an ounce. It appeared that, with the economy rebounding and no imminent threat of inflation apparent, there was little resistance to gold falling further -- potentially below $900.
In other words, just when you think you have gold figured out, think again.
Cash4Gold Offers to Purchase U.S. Gold Reserves for $240 Billion
For Immediate Release
June 25, 2009 (Pompano Beach, Fla.) Cash4Gold, America’s # 1 buyer of precious metals direct from the general public, today announced an offer to purchase the U.S. national gold reserve for $240 billion.
Cash4Gold learned of the federal government’s plan to turn the nation’s gold into cash after the Onion News Network broke the story at the Radio and Television Correspondents’ Association Dinner in Washington last week. President Obama and scores of other political and media leaders were on-hand as the Onion aired a video news segment announcing the emergency economic plan aimed at helping the United States pay off its debts.
Appearing on The Onion to explain the government’s plan to work with Cash4Gold, Deputy Treasury Secretary Edward Kuehnel estimated the value of the pure gold bars that comprise the U.S. federal gold reserve at $200 billion. Cash4Gold’s unprecedented $240 billion offer reflects the full melt value of the U.S. stockpile, plus an added 20 percent. Melt value refers to the value of actual precious metal contained in an item that a refinery can extract and recycle, and does not account for the decorative, artistic, historic, or sentimental value of a given item.
As part of a current promotion called Gold Rush, Cash4Gold is currently paying an additional 20 percent on all items received before July 4. A transaction concluded with the U.S. government would put Cash4Gold 240,000 percent above its advertised goal of purchasing $100 million in gold by the July 4 Independence Day holiday.
Treasury Secretary Timothy Geithner devised the plan to sell the federal gold reserve after viewing one of Cash4Gold’s commercials on television, according to the Onion.
“Cash4Gold has helped hundreds of thousands of Americans monetize their broken or unwanted jewelry, and we certainly stand ready to serve the American government,” said Cash4Gold CEO Jeff Aronson. “It would not only be a privilege, but a once-in-a-lifetime opportunity for Cash4Gold to do its patriotic duty by helping bolster the U.S. economy,” Aronson added.
Cash4Gold today also extended an invitation to Treasury Secretary Timothy Geithner to sit on its Board of Advisers. “Secretary Geithner has been at center stage during recent months, working tirelessly to improve the economic situation in America,” said Aronson. “We hope that he will accept a position with Cash4Gold’s Board of Advisors, and share with us some of the insights he has gained through his unique experience.”
As Deputy Treasury Secretary Kuehnel explained to the Onion, the U.S. plan to sell its gold reserve to Cash4Gold carries no risk, since every transaction conducted between Cash4Gold and its customers is fully backed by a 100 percent satisfaction guarantee. All Cash4Gold customers have 12 days in which to call or return their checks should they decide not to accept Cash4Gold’s offer, and their material will be sent back at no charge.
As it does each day with every piece of jewelry it receives, Cash4Gold will thoroughly test all material using the most sophisticated assaying equipment in the jewelry industry in order to determine the gold’s weight and purity.
Cash4Gold expects that it would need to mobilize every one of the 300-plus employees at its new, highly-secure processing facility to handle a shipment of this size. The postage and insurance rates involved in such a transaction would provide an additional economic stimulus above and beyond the cash received by the government for the gold.
About Cash4Gold
Cash4Gold is America’s #1 buyer of precious metals including gold, silver and platinum from the general public, and one of the largest refiners of precious metals in the nation. Through an efficient and proprietary process, the company has revolutionized its industry, and is a fully-integrated company with front-end customer service and marketing operations and a back-end refinery. Hundreds of thousands of satisfied customers have received millions of dollars from Cash4Gold since its inception. Cash4Gold has warned customers that unauthorized businesses are running Cash4Gold scams fraudulently using Cash4Gold’s name and logo in their marketing and storefronts/kiosks. Cash4Gold reminds customers that the company does not operate any stores, and that the only way to do business with the real Cash4Gold is through the website www.Cash4Gold.com or the toll-free hotlines featured in the company’s official advertisements. Cash4Gold’s popular advertisements can be seen in print, on national television and heard across the satellite and terrestrial radio dials. To sell your gold, please visit http://www.cash4gold.com/ or call 1-877-GOLD-590 for more information, and don’t forget to visit the Cash4Gold blog.
June 25, 2009 (Pompano Beach, Fla.) Cash4Gold, America’s # 1 buyer of precious metals direct from the general public, today announced an offer to purchase the U.S. national gold reserve for $240 billion.
Cash4Gold learned of the federal government’s plan to turn the nation’s gold into cash after the Onion News Network broke the story at the Radio and Television Correspondents’ Association Dinner in Washington last week. President Obama and scores of other political and media leaders were on-hand as the Onion aired a video news segment announcing the emergency economic plan aimed at helping the United States pay off its debts.
Appearing on The Onion to explain the government’s plan to work with Cash4Gold, Deputy Treasury Secretary Edward Kuehnel estimated the value of the pure gold bars that comprise the U.S. federal gold reserve at $200 billion. Cash4Gold’s unprecedented $240 billion offer reflects the full melt value of the U.S. stockpile, plus an added 20 percent. Melt value refers to the value of actual precious metal contained in an item that a refinery can extract and recycle, and does not account for the decorative, artistic, historic, or sentimental value of a given item.
As part of a current promotion called Gold Rush, Cash4Gold is currently paying an additional 20 percent on all items received before July 4. A transaction concluded with the U.S. government would put Cash4Gold 240,000 percent above its advertised goal of purchasing $100 million in gold by the July 4 Independence Day holiday.
Treasury Secretary Timothy Geithner devised the plan to sell the federal gold reserve after viewing one of Cash4Gold’s commercials on television, according to the Onion.
“Cash4Gold has helped hundreds of thousands of Americans monetize their broken or unwanted jewelry, and we certainly stand ready to serve the American government,” said Cash4Gold CEO Jeff Aronson. “It would not only be a privilege, but a once-in-a-lifetime opportunity for Cash4Gold to do its patriotic duty by helping bolster the U.S. economy,” Aronson added.
Cash4Gold today also extended an invitation to Treasury Secretary Timothy Geithner to sit on its Board of Advisers. “Secretary Geithner has been at center stage during recent months, working tirelessly to improve the economic situation in America,” said Aronson. “We hope that he will accept a position with Cash4Gold’s Board of Advisors, and share with us some of the insights he has gained through his unique experience.”
As Deputy Treasury Secretary Kuehnel explained to the Onion, the U.S. plan to sell its gold reserve to Cash4Gold carries no risk, since every transaction conducted between Cash4Gold and its customers is fully backed by a 100 percent satisfaction guarantee. All Cash4Gold customers have 12 days in which to call or return their checks should they decide not to accept Cash4Gold’s offer, and their material will be sent back at no charge.
As it does each day with every piece of jewelry it receives, Cash4Gold will thoroughly test all material using the most sophisticated assaying equipment in the jewelry industry in order to determine the gold’s weight and purity.
Cash4Gold expects that it would need to mobilize every one of the 300-plus employees at its new, highly-secure processing facility to handle a shipment of this size. The postage and insurance rates involved in such a transaction would provide an additional economic stimulus above and beyond the cash received by the government for the gold.
About Cash4Gold
Cash4Gold is America’s #1 buyer of precious metals including gold, silver and platinum from the general public, and one of the largest refiners of precious metals in the nation. Through an efficient and proprietary process, the company has revolutionized its industry, and is a fully-integrated company with front-end customer service and marketing operations and a back-end refinery. Hundreds of thousands of satisfied customers have received millions of dollars from Cash4Gold since its inception. Cash4Gold has warned customers that unauthorized businesses are running Cash4Gold scams fraudulently using Cash4Gold’s name and logo in their marketing and storefronts/kiosks. Cash4Gold reminds customers that the company does not operate any stores, and that the only way to do business with the real Cash4Gold is through the website www.Cash4Gold.com or the toll-free hotlines featured in the company’s official advertisements. Cash4Gold’s popular advertisements can be seen in print, on national television and heard across the satellite and terrestrial radio dials. To sell your gold, please visit http://www.cash4gold.com/ or call 1-877-GOLD-590 for more information, and don’t forget to visit the Cash4Gold blog.
###
*This is obviously satire.Wednesday, June 24, 2009
Today in Gold: Wednesday, June 24
Each weekday, Cash4Gold will troll through the web's gold banter and post some of the bigger or more interesting stories. Following is a run-down of today's features:
"U.S. Markets Wrap: Treasuries Fall on Fed Action, Dollar Rises"
Author: Liz Capo McCormick and Margot Habiby
Website: Bloomberg.com
Main Points: Gold for August delivery rose $10.10 to finish today's session at $934.40 an ounce. Stocks rose, oil fell and the dollar strengthened against the euro, conditions that do not typically favor the price of gold.
The Fed also announced that they expected inflation to remain "subdued for some time." Since gold is seen as a hedge against inflation, this would not be seen as good news for gold investors.
"Fed Chairman Ben S. Bernanke has emphasized that the central bank can successfully take back more than $1 trillion it pumped into the U.S. banking system to pull the economy out of recession without stoking inflation."
Analysis: Very odd day. The environment was perfect for a dramatic drop in the gold price. The dollar is strong, oil is down, riskier stocks are up, and the Fed makes a declaration that there was minimal inflationary risk.
Why did gold rise? It could be that investors had little confidence in the Fed's pronouncement. Even so, the other factors mentioned would typically result in a drop in the gold price. It could be that Thursday will see the negative reaction to the yellow metal.
"U.S. Markets Wrap: Treasuries Fall on Fed Action, Dollar Rises"
Author: Liz Capo McCormick and Margot Habiby
Website: Bloomberg.com
Main Points: Gold for August delivery rose $10.10 to finish today's session at $934.40 an ounce. Stocks rose, oil fell and the dollar strengthened against the euro, conditions that do not typically favor the price of gold.
The Fed also announced that they expected inflation to remain "subdued for some time." Since gold is seen as a hedge against inflation, this would not be seen as good news for gold investors.
"Fed Chairman Ben S. Bernanke has emphasized that the central bank can successfully take back more than $1 trillion it pumped into the U.S. banking system to pull the economy out of recession without stoking inflation."
Analysis: Very odd day. The environment was perfect for a dramatic drop in the gold price. The dollar is strong, oil is down, riskier stocks are up, and the Fed makes a declaration that there was minimal inflationary risk.
Why did gold rise? It could be that investors had little confidence in the Fed's pronouncement. Even so, the other factors mentioned would typically result in a drop in the gold price. It could be that Thursday will see the negative reaction to the yellow metal.
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