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.
Tuesday, June 23, 2009
Cash4Gold Mourns the Passing of the Legendary Ed McMahon
FOR IMMEDIATE RELEASE
June 23, 2009 (Pompano, Beach, Fla) – Cash4Gold today expressed its great sadness at the news that Ed McMahon has passed away at the age of 86. Cash4Gold CEO Jeff Aronson and Cash4Gold President Howard Mofshin today released the following statement:
"Cash4Gold mourns the passing of Ed McMahon, and our most heartfelt sympathy goes out to his wife and children, who were the light of his life," said Aronson and Mofshin.
"Ed McMahon was an entertainment legend, and it was a tremendous honor for Cash4Gold to have had the opportunity to work with him."
"Ed McMahon was a true patriot who loved America, and was proud of having served his country, rising to the rank of colonel in the U.S. Marine Corps.
"Ed was as talented and funny as he was humble, gentle and caring—he will be sorely missed."
June 23, 2009 (Pompano, Beach, Fla) – Cash4Gold today expressed its great sadness at the news that Ed McMahon has passed away at the age of 86. Cash4Gold CEO Jeff Aronson and Cash4Gold President Howard Mofshin today released the following statement:
"Cash4Gold mourns the passing of Ed McMahon, and our most heartfelt sympathy goes out to his wife and children, who were the light of his life," said Aronson and Mofshin.
"Ed McMahon was an entertainment legend, and it was a tremendous honor for Cash4Gold to have had the opportunity to work with him."
"Ed McMahon was a true patriot who loved America, and was proud of having served his country, rising to the rank of colonel in the U.S. Marine Corps.
"Ed was as talented and funny as he was humble, gentle and caring—he will be sorely missed."
Today in Gold: Tuesday, June 23
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 rebound on dollar weakness"
Author: Sara Lepro
Website: Google.com
Main Points: The US dollar weakened against the euro and British pound today. As a result, gold for August delivery gained $3.30 to finish at $924.30 an ounce. Particularly during the past few months, gold has behaved in inverse relation of the dollar.
Investors anxiously await word from the Fed after a two day meeting tomorrow.
"What the market may look for is to see if they are going to give any indication of how long they'll keep rates low," said James Steel of HSBC in New York. Low interest rates are good for borrowing, but tends to weaken the currency.
Analysis: As we've covered repeatedly, each day is a new story. Gold dropped yesterday as the dollar strengthened. Today, the dollar weakens and gold rises. The immediate future of the gold price is not known. What is known, however, is that gold is in near record ranges. If you have gold, there is no better time to sell.
"Commodity prices rebound on dollar weakness"
Author: Sara Lepro
Website: Google.com
Main Points: The US dollar weakened against the euro and British pound today. As a result, gold for August delivery gained $3.30 to finish at $924.30 an ounce. Particularly during the past few months, gold has behaved in inverse relation of the dollar.
Investors anxiously await word from the Fed after a two day meeting tomorrow.
"What the market may look for is to see if they are going to give any indication of how long they'll keep rates low," said James Steel of HSBC in New York. Low interest rates are good for borrowing, but tends to weaken the currency.
Analysis: As we've covered repeatedly, each day is a new story. Gold dropped yesterday as the dollar strengthened. Today, the dollar weakens and gold rises. The immediate future of the gold price is not known. What is known, however, is that gold is in near record ranges. If you have gold, there is no better time to sell.
Monday, June 22, 2009
Consumer Alert! Cash4Gold Frauds Misusing Industry Leader's Name, Logo
FOR IMMEDIATE RELEASE
Cash4Gold Reminds Customers That it Does Not Operate Physical Stores and That All True Advertising Points to www.cash4gold.com and an Official Toll-Free Hotline
June 22, 2009 (Pompano, Beach, Fla) – Cash4Gold, America's #1 gold buyer direct from the general public, today warned customers that unauthorized businesses across the country are fraudulently using Cash4Gold's name and logo in their marketing, and in some cases on their actual storefronts/kiosks.
"The only way for customers to know for sure that they are working with the real Cash4Gold is to contact us via our website www.Cash4Gold.com or one of the official toll-free hotlines featured in our advertisements," said Cash4Gold CEO Jeff Aronson.
"Cash4Gold does all of its business direct to consumers and we do not operate any physical stores. All true Cash4Gold advertising points to the company's official website and hotlines; any other use of our logo is fake, whether it is being used to advertise a website, promote a gold swap party or call attention to a gold buying event or store at a local mall.
"We are greatly concerned that consumers are being deceived by these copycat companies, which are running Cash4Gold scams that take advantage of people, hurt our reputation and leave customers unprotected by Cash4Gold's 100% satisfaction guarantee.
"We encourage you to be careful and only deal with Cash4Gold via our website www.Cash4Gold.com or on the toll-free numbers featured in our official advertising. Please alert us to any misuse of our logo and brand by e-mailing us at info@cash4Gold.com.
"Since 2007, Cash4Gold.com has provided a private, satisfaction-guaranteed service that has helped hundreds of thousands of people by paying out millions of dollars for scrap gold. Cash4Gold.com processes millions of pieces of jewelry every week for people looking to find value in old jewelry or scrap gold that might not be delivering any benefit otherwise.
"Cash4Gold's leadership in this new industry also extends to working with the government and law enforcement agencies when it comes to customer rights. Cash4Gold recently worked with the Florida legislature to create and pass legislation on this topic and is proud to have worked closely with lawmakers to develop a bill increasing the transparency of transactions to law enforcement. As a result, Florida became the first state in the nation to pass legislation that will help regulate the industry and protect citizens."
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 www.Cash4Gold.com or call 1-877-GOLD-590 for more information, and don't forget to visit the Cash4Gold blog.
Cash4Gold Reminds Customers That it Does Not Operate Physical Stores and That All True Advertising Points to www.cash4gold.com and an Official Toll-Free Hotline
June 22, 2009 (Pompano, Beach, Fla) – Cash4Gold, America's #1 gold buyer direct from the general public, today warned customers that unauthorized businesses across the country are fraudulently using Cash4Gold's name and logo in their marketing, and in some cases on their actual storefronts/kiosks.
"The only way for customers to know for sure that they are working with the real Cash4Gold is to contact us via our website www.Cash4Gold.com or one of the official toll-free hotlines featured in our advertisements," said Cash4Gold CEO Jeff Aronson.
"Cash4Gold does all of its business direct to consumers and we do not operate any physical stores. All true Cash4Gold advertising points to the company's official website and hotlines; any other use of our logo is fake, whether it is being used to advertise a website, promote a gold swap party or call attention to a gold buying event or store at a local mall.
"We are greatly concerned that consumers are being deceived by these copycat companies, which are running Cash4Gold scams that take advantage of people, hurt our reputation and leave customers unprotected by Cash4Gold's 100% satisfaction guarantee.
"We encourage you to be careful and only deal with Cash4Gold via our website www.Cash4Gold.com or on the toll-free numbers featured in our official advertising. Please alert us to any misuse of our logo and brand by e-mailing us at info@cash4Gold.com.
"Since 2007, Cash4Gold.com has provided a private, satisfaction-guaranteed service that has helped hundreds of thousands of people by paying out millions of dollars for scrap gold. Cash4Gold.com processes millions of pieces of jewelry every week for people looking to find value in old jewelry or scrap gold that might not be delivering any benefit otherwise.
"Cash4Gold's leadership in this new industry also extends to working with the government and law enforcement agencies when it comes to customer rights. Cash4Gold recently worked with the Florida legislature to create and pass legislation on this topic and is proud to have worked closely with lawmakers to develop a bill increasing the transparency of transactions to law enforcement. As a result, Florida became the first state in the nation to pass legislation that will help regulate the industry and protect citizens."
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 www.Cash4Gold.com or call 1-877-GOLD-590 for more information, and don't forget to visit the Cash4Gold blog.
Today in Gold: Monday, June 22
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:
"Dollar strength presses gold down toward $920"
Author: Frank Tang and Veronica Brown
Website: Reuters.com
Main Points: Gold for August delivery fell 1.3 percent to settle at $922 an ounce today. The price fell as low as $917.90 during the session, the lowest price since mid-may. The main driver behind the drop was the continuing strengthening of the US dollar.
An upcoming Federal Reserve meeting, however, could change the course. Other signs point to a potential course reversal in the near future.
"The correlation with the dollar is up sharply in recent weeks," said Dan Smithof Standard Chartered. "We think the dollar is going to weaken and provide support for gold."
Analysis: Will the dollar weaken? Will the upcoming Fed meeting benefit the gold price? Given the drop of the gold price today, it would seem that the majority of speculation would not be in favor of gold. However, as we've seen time and time again, speculation has minimal value. Tomorrow is a new day.
"Dollar strength presses gold down toward $920"
Author: Frank Tang and Veronica Brown
Website: Reuters.com
Main Points: Gold for August delivery fell 1.3 percent to settle at $922 an ounce today. The price fell as low as $917.90 during the session, the lowest price since mid-may. The main driver behind the drop was the continuing strengthening of the US dollar.
An upcoming Federal Reserve meeting, however, could change the course. Other signs point to a potential course reversal in the near future.
"The correlation with the dollar is up sharply in recent weeks," said Dan Smithof Standard Chartered. "We think the dollar is going to weaken and provide support for gold."
Analysis: Will the dollar weaken? Will the upcoming Fed meeting benefit the gold price? Given the drop of the gold price today, it would seem that the majority of speculation would not be in favor of gold. However, as we've seen time and time again, speculation has minimal value. Tomorrow is a new day.
Friday, June 19, 2009
Today in Gold: Friday, June 19
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:
"FOCUS: Gold Market Enters Seasonally Soft Summer Period"
Author: Allen Sykora
Website: WSJ.com
Main Points: Gold prices could drop during the summer due to a historical investment slowdown and an inflation that has yet to come as a result of continued economic sluggishness.
"We expect prices to head lower," said Carlos Sanchez of research with CPM Group, "possibly to $860 or $840. Weakness would be due to fabrication demand being reduced. Usually, gold-gift-giving holidays occur at the beginning of the year and latter part of the year, not only in developed countries but developing countries like India and Pakistan."
James Moore of TheBullionDesk.com concurred, adding that "given the fact we haven't seen a step-up in buying interest, maybe we have to go back to the $880 area and maybe even back to the $850 before we can pick up fresh buying."
Analysis: It appears the bull run is over, and selling will continue for the immediate future. We haven't covered the summer lull much in the past, but it will certainly dent any upward potential that the precious metal has for now. Gold still has long-term potential given the likelihood of another run once inflation hits, but that may still be some time. The bottom is likely a ways away.
Gold remained largely unchanged to close the week, finishing at $933.75 an ounce.
"FOCUS: Gold Market Enters Seasonally Soft Summer Period"
Author: Allen Sykora
Website: WSJ.com
Main Points: Gold prices could drop during the summer due to a historical investment slowdown and an inflation that has yet to come as a result of continued economic sluggishness.
"We expect prices to head lower," said Carlos Sanchez of research with CPM Group, "possibly to $860 or $840. Weakness would be due to fabrication demand being reduced. Usually, gold-gift-giving holidays occur at the beginning of the year and latter part of the year, not only in developed countries but developing countries like India and Pakistan."
James Moore of TheBullionDesk.com concurred, adding that "given the fact we haven't seen a step-up in buying interest, maybe we have to go back to the $880 area and maybe even back to the $850 before we can pick up fresh buying."
Analysis: It appears the bull run is over, and selling will continue for the immediate future. We haven't covered the summer lull much in the past, but it will certainly dent any upward potential that the precious metal has for now. Gold still has long-term potential given the likelihood of another run once inflation hits, but that may still be some time. The bottom is likely a ways away.
Gold remained largely unchanged to close the week, finishing at $933.75 an ounce.
Thursday, June 18, 2009
Today in Gold: Thursday, June 18
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:
"US gold ends down as dollar rises, funds unwind"
Author: James Pethokoukis
Website: Reuters.com
Main Points: Gold for August delivery remained rather steady today, dropping $1.40 to settle at $934.60 an ounce. The price was as high as $944 throughout the day, but couldn't sustain any momentum once the dollar turned stronger against the Euro.
Reports also are coming in indicating a lack of inflation, often seen as a driver for higher gold prices. That said, talk of increased US government financial regulation could favor gold, according to James Steel, chief commodities analyst at HSBC.
Analysis: After a very volatile few weeks where gold consistently endured double digit losses, things appear to be settling down for the time being. After a $13.20 tumble on Monday (and a $21.30 drop the previous session), gold has largely remained in a $5 range. Does this mean that the commodity has hit a temporary bottom?
"US gold ends down as dollar rises, funds unwind"
Author: James Pethokoukis
Website: Reuters.com
Main Points: Gold for August delivery remained rather steady today, dropping $1.40 to settle at $934.60 an ounce. The price was as high as $944 throughout the day, but couldn't sustain any momentum once the dollar turned stronger against the Euro.
Reports also are coming in indicating a lack of inflation, often seen as a driver for higher gold prices. That said, talk of increased US government financial regulation could favor gold, according to James Steel, chief commodities analyst at HSBC.
Analysis: After a very volatile few weeks where gold consistently endured double digit losses, things appear to be settling down for the time being. After a $13.20 tumble on Monday (and a $21.30 drop the previous session), gold has largely remained in a $5 range. Does this mean that the commodity has hit a temporary bottom?
Cash4Gold Values Lakers Hardware at $3,500
FOR IMMEDIATE RELEASE
June 18, 2009 – Pompano Beach, Fla. – The Los Angeles Lakers capped a successful postseason run this week when the team hoisted the Larry O'Brien Championship Trophy, marking the franchise's 15th title.
Cash4Gold, America's #1 gold buyer direct from the general public, today suggested that the Lakers could send in their new trophy to Cash4Gold to help defray the costs of Wednesday's victory celebration. Certified appraisers at Cash4Gold have examined photographs of the renowned trophy, estimating that it might contain as much as $3,500 worth of precious metals. The trophy weighs roughly 16 pounds, stands nearly two feet tall and is composed of sterling silver overlaid with 24 karat gold.
Considering the remarkable achievement that the Larry O'Brien Trophy represents for the Lakers, its worth probably outweighs the melt value that the piece would garner if it were sent to Cash4Gold. Melt value refers to the value of actual precious metal contained in an item that a refinery can extract and recycle. Melt value does not account for the decorative, artistic, historic or sentimental value of a given item.
"Cash4Gold congratulates the Lakers on being crowned the 2009 NBA Champions, and understands if the team decides not to mail in its trophy to Cash4Gold," said Cash4Gold CEO Jeff Aronson. "But Lakers fans and all other Americans should keep in mind that Cash4Gold is available to help them cash in on unwanted gold or silver jewelry, so they should contact us today to request a free Refiner's Return Pak."
Cash4Gold is currently running a Gold Rush promotion offering customers an additional 20% payout for items submitted to the company before July 4, 2009.
About Cash4Gold
Cash4Gold is the #1 American 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 with innovations in marketing, customer service, refining, and logistics. In 2001, Cash4Gold CEO Jeff Aronson founded Albar Precious Metals, a precious metals refinery in Chicago, IL. Then, in April of 2007, Aronson and Cash4Gold President Howard Mofshin co-founded the company known as Green Bullion Financial Services, LLC d/b/a Cash4Gold that now employs almost 300 people in its Florida headquarters. Cash4Gold 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's popular advertisements can be seen on national television and heard across the satellite and terrestrial radio dials. To sell your gold, please visit www.Cash4Gold.com, the Cash4Gold blog, or call 1-877-GOLD-590 for more information.
June 18, 2009 – Pompano Beach, Fla. – The Los Angeles Lakers capped a successful postseason run this week when the team hoisted the Larry O'Brien Championship Trophy, marking the franchise's 15th title.
Cash4Gold, America's #1 gold buyer direct from the general public, today suggested that the Lakers could send in their new trophy to Cash4Gold to help defray the costs of Wednesday's victory celebration. Certified appraisers at Cash4Gold have examined photographs of the renowned trophy, estimating that it might contain as much as $3,500 worth of precious metals. The trophy weighs roughly 16 pounds, stands nearly two feet tall and is composed of sterling silver overlaid with 24 karat gold.
Considering the remarkable achievement that the Larry O'Brien Trophy represents for the Lakers, its worth probably outweighs the melt value that the piece would garner if it were sent to Cash4Gold. Melt value refers to the value of actual precious metal contained in an item that a refinery can extract and recycle. Melt value does not account for the decorative, artistic, historic or sentimental value of a given item.
"Cash4Gold congratulates the Lakers on being crowned the 2009 NBA Champions, and understands if the team decides not to mail in its trophy to Cash4Gold," said Cash4Gold CEO Jeff Aronson. "But Lakers fans and all other Americans should keep in mind that Cash4Gold is available to help them cash in on unwanted gold or silver jewelry, so they should contact us today to request a free Refiner's Return Pak."
Cash4Gold is currently running a Gold Rush promotion offering customers an additional 20% payout for items submitted to the company before July 4, 2009.
About Cash4Gold
Cash4Gold is the #1 American 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 with innovations in marketing, customer service, refining, and logistics. In 2001, Cash4Gold CEO Jeff Aronson founded Albar Precious Metals, a precious metals refinery in Chicago, IL. Then, in April of 2007, Aronson and Cash4Gold President Howard Mofshin co-founded the company known as Green Bullion Financial Services, LLC d/b/a Cash4Gold that now employs almost 300 people in its Florida headquarters. Cash4Gold 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's popular advertisements can be seen on national television and heard across the satellite and terrestrial radio dials. To sell your gold, please visit www.Cash4Gold.com, the Cash4Gold blog, or call 1-877-GOLD-590 for more information.
Wednesday, June 17, 2009
Today in Gold: Wednesday, June 17
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:
"Commodities reverse early losses, move higher"
Author: Sara Lepro
Website: Google.com
Main Points: Gold prices dropped early in today's session on the heels of a governmental report that indicated inflation was under control, as consumer prices rose less than expected in May.
However, the dollar weakened against the Euro and British Pound, driving gold up to a $3.80 gain, settling at $936 an ounce by the end of the session.
"The reality is prices are still going up and people are concerned about where those numbers are going to be a year from now," said Matt Zeman of LaSalle Futures. "People are still concerned about inflation, in spite of this number that came out today."
Analysis: It's a delicate balance for the government. Many believe there will be a necessity to raise interest rates, which is expected to weaken the dollar and drive inflation. If that happens, gold is likely to benefit. That said, there are no guarantees in the short term for the yellow metal.
"Commodities reverse early losses, move higher"
Author: Sara Lepro
Website: Google.com
Main Points: Gold prices dropped early in today's session on the heels of a governmental report that indicated inflation was under control, as consumer prices rose less than expected in May.
However, the dollar weakened against the Euro and British Pound, driving gold up to a $3.80 gain, settling at $936 an ounce by the end of the session.
"The reality is prices are still going up and people are concerned about where those numbers are going to be a year from now," said Matt Zeman of LaSalle Futures. "People are still concerned about inflation, in spite of this number that came out today."
Analysis: It's a delicate balance for the government. Many believe there will be a necessity to raise interest rates, which is expected to weaken the dollar and drive inflation. If that happens, gold is likely to benefit. That said, there are no guarantees in the short term for the yellow metal.
Tuesday, June 16, 2009
Today in Gold: Tuesday, June 16
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:
"NY gold ends up as dollar falls, oil erases gains"
Author: James Pethokoukis
Website: Reuters.com
Main Points: Gold ranged between $927.70 and $940.60 before settling at $932.20 an ounce, up $4.70 from the previous session.
Gold rallied initially against a weakened dollar, but fell after a sell-off of oil. The price of gold is closely related to both.
The dollar weakened after reports of stronger housing data in May prompted investors to dip into riskier assets.
Analysis: Following the market on a day to day basis, the world economy can have a completely different outlook from one 24 period to the next... and the next. The dollar weakens, the dollar strengthens, the dollar weakens. Meanwhile, the yo-yo of the price of gold follows.
It is not advisable to follow the markets, waiting for the best time to sell gold. Gold is falling lately, but it will rise again. It will fall again. Overall, the price is strong. If you are in need of cash and have gold to sell, this is a very good time to cash in.
"NY gold ends up as dollar falls, oil erases gains"
Author: James Pethokoukis
Website: Reuters.com
Main Points: Gold ranged between $927.70 and $940.60 before settling at $932.20 an ounce, up $4.70 from the previous session.
Gold rallied initially against a weakened dollar, but fell after a sell-off of oil. The price of gold is closely related to both.
The dollar weakened after reports of stronger housing data in May prompted investors to dip into riskier assets.
Analysis: Following the market on a day to day basis, the world economy can have a completely different outlook from one 24 period to the next... and the next. The dollar weakens, the dollar strengthens, the dollar weakens. Meanwhile, the yo-yo of the price of gold follows.
It is not advisable to follow the markets, waiting for the best time to sell gold. Gold is falling lately, but it will rise again. It will fall again. Overall, the price is strong. If you are in need of cash and have gold to sell, this is a very good time to cash in.
Monday, June 15, 2009
Today in Gold: Monday, June 15
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:
"Commodities sink as dollar regains strength"
Author: Sara Lepro
Website: Google.com
Main Points: After a three month tumble, the US dollar strengthened for the second straight session against foreign currencies. One major contributing factor today was a vote of confidence from Russia. Once showing uncertainty about the status of the dollar, Russia's finance minister, Alexei Kudrin, proclaimed that the US dollar would remain the world's chief reserve currency for many years.
As a result, gold for August delivery fell $13.20 to settle at $927.50 an ounce.
Analysis: As typically is the case, gold has an inverse relationship with the value of the dollar. Only two weeks ago, there was nothing stopping the price of gold. Now, the dollar looks strong, the economy is turning around, and there appears to be a lead weight on gold. In two days this week, gold has dropped $24.50.
"Commodities sink as dollar regains strength"
Author: Sara Lepro
Website: Google.com
Main Points: After a three month tumble, the US dollar strengthened for the second straight session against foreign currencies. One major contributing factor today was a vote of confidence from Russia. Once showing uncertainty about the status of the dollar, Russia's finance minister, Alexei Kudrin, proclaimed that the US dollar would remain the world's chief reserve currency for many years.
As a result, gold for August delivery fell $13.20 to settle at $927.50 an ounce.
Analysis: As typically is the case, gold has an inverse relationship with the value of the dollar. Only two weeks ago, there was nothing stopping the price of gold. Now, the dollar looks strong, the economy is turning around, and there appears to be a lead weight on gold. In two days this week, gold has dropped $24.50.
CASH4GOLD: PITTSBURGH PENGUINS COULD BANK $7,500 FOR STANLEY CUP
FOR IMMEDIATE RELEASE
June 15, 2009 – Pompano Beach, FL – The Pittsburgh Penguins are once again on top of the hockey world, having been awarded the Stanley Cup, one of the most renowned trophies in all of sports.
Certified appraisers at Cash4Gold, America's #1 buyer of precious metals direct from the general public, have studied photographs of the famed 35-pound trophy. They estimate that it might contain as much as $7,500 worth of silver, assuming that the trophy is 100% silver.
Given that the Stanley Cup is one of the most distinguished trophies in sports, its worth most likely outweighs the melt value that the piece would command if it were sent to Cash4Gold. Melt value refers to the value of actual precious metal contained in an item that a refinery can extract and recycle. Melt value does not account for the decorative, artistic, historic, or sentimental value of a given item.
"The Pittsburgh Penguins prevailed in a great series, and I don't expect the team to send the Stanley Cup to Cash4Gold," said Cash4Gold CEO Jeff Aronson. "However, if any of their fans or any other Americans want to tap the value of old or broken gold or silver jewelry lying around the house, then now would be a great time to send it to Cash4Gold. We're buying."
Cash4Gold is currently running a Gold Rush promotion offering customers an additional 20% payout for items submitted to the company before July 4, 2009.
Cash4Gold's Gold Rush campaign has been widely advertised on television, and is the focal point of the industry-leading company's mission to buy $100 million worth of gold before the long Independence Day holiday weekend.
About Cash4Gold
Cash4Gold is the #1 American 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 with innovations in marketing, customer service, refining, and logistics. In 2001, Cash4Gold CEO Jeff Aronson founded Albar Precious Metals, a precious metals refinery in Chicago, IL. Then, in April of 2007, Aronson and Cash4Gold President Howard Mofshin co-founded the company known as Green Bullion Financial Services, LLC d/b/a Cash4Gold that now employs almost 300 people in its Florida headquarters. Cash4Gold 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's popular advertisements can be seen on national television and heard across the satellite and terrestrial radio dials. Please visit www.Cash4Gold.com, the Cash 4 Gold blog, or call 1-877-GOLD-590 for more information.
June 15, 2009 – Pompano Beach, FL – The Pittsburgh Penguins are once again on top of the hockey world, having been awarded the Stanley Cup, one of the most renowned trophies in all of sports.
Certified appraisers at Cash4Gold, America's #1 buyer of precious metals direct from the general public, have studied photographs of the famed 35-pound trophy. They estimate that it might contain as much as $7,500 worth of silver, assuming that the trophy is 100% silver.
Given that the Stanley Cup is one of the most distinguished trophies in sports, its worth most likely outweighs the melt value that the piece would command if it were sent to Cash4Gold. Melt value refers to the value of actual precious metal contained in an item that a refinery can extract and recycle. Melt value does not account for the decorative, artistic, historic, or sentimental value of a given item.
"The Pittsburgh Penguins prevailed in a great series, and I don't expect the team to send the Stanley Cup to Cash4Gold," said Cash4Gold CEO Jeff Aronson. "However, if any of their fans or any other Americans want to tap the value of old or broken gold or silver jewelry lying around the house, then now would be a great time to send it to Cash4Gold. We're buying."
Cash4Gold is currently running a Gold Rush promotion offering customers an additional 20% payout for items submitted to the company before July 4, 2009.
Cash4Gold's Gold Rush campaign has been widely advertised on television, and is the focal point of the industry-leading company's mission to buy $100 million worth of gold before the long Independence Day holiday weekend.
About Cash4Gold
Cash4Gold is the #1 American 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 with innovations in marketing, customer service, refining, and logistics. In 2001, Cash4Gold CEO Jeff Aronson founded Albar Precious Metals, a precious metals refinery in Chicago, IL. Then, in April of 2007, Aronson and Cash4Gold President Howard Mofshin co-founded the company known as Green Bullion Financial Services, LLC d/b/a Cash4Gold that now employs almost 300 people in its Florida headquarters. Cash4Gold 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's popular advertisements can be seen on national television and heard across the satellite and terrestrial radio dials. Please visit www.Cash4Gold.com, the Cash 4 Gold blog, or call 1-877-GOLD-590 for more information.
Cash4Gold Praises State of Florida for Passing First-Of-Its-Kind Consumer Protection Legislation
POMPANO BEACH, Fla.-- Cash4Gold CEO Jeff Aronson made the following statement after Florida Governor Charlie Crist signed Senate Bill 2700 into law. This legislation boosts the regulation of the industry established by Cash4Gold.
"We are happy that Governor Crist has signed this significant bill into Florida law. We are proud to have worked with officials in drafting what will become the first law of its kind to increase the transparency of our industry to law enforcement. At Cash4Gold, we have invested substantial resources in lobbying efforts and we have worked closely with law enforcement to drive forward this law which will help keep customers safe."
"Florida is the first state to institute this important law. However, in order to protect all consumers, Cash4Gold is actively working with national law enforcement officials to implement these same protections at the national level. We look forward to continuing our long-standing relationship with Florida law enforcement with whom we have worked to enhance the integrity of our industry and to protect our citizens."
"Cash4Gold has already instituted key aspects of this new law which ensures customer safety and provides 100% satisfaction with transactions. It is gratifying to see this new legislation passed which is based upon the unique business model that Cash4Gold created. Cash4Gold strives to educate its customers while ensuring secure transactions for all."
About Cash4Gold
Cash4Gold is the #1 American 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 with innovations in marketing, customer service, refining, and logistics. In 2001, Cash4Gold CEO Jeff Aronson founded Albar Precious Metals, a precious metals refinery in Chicago, IL. Then, in April of 2007, Aronson and Cash4Gold President Howard Mofshin co-founded the company known as Green Bullion Financial Services, LLC d/b/a Cash4Gold that now employs almost 300 people in its Florida headquarters. Cash4Gold 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's popular advertisements can be seen on national television and heard across the satellite and terrestrial radio dials. Please visit www.Cash4Gold.com, the Cash 4 Gold blog, or call 1-877-GOLD-590 for more information.
"We are happy that Governor Crist has signed this significant bill into Florida law. We are proud to have worked with officials in drafting what will become the first law of its kind to increase the transparency of our industry to law enforcement. At Cash4Gold, we have invested substantial resources in lobbying efforts and we have worked closely with law enforcement to drive forward this law which will help keep customers safe."
"Florida is the first state to institute this important law. However, in order to protect all consumers, Cash4Gold is actively working with national law enforcement officials to implement these same protections at the national level. We look forward to continuing our long-standing relationship with Florida law enforcement with whom we have worked to enhance the integrity of our industry and to protect our citizens."
"Cash4Gold has already instituted key aspects of this new law which ensures customer safety and provides 100% satisfaction with transactions. It is gratifying to see this new legislation passed which is based upon the unique business model that Cash4Gold created. Cash4Gold strives to educate its customers while ensuring secure transactions for all."
About Cash4Gold
Cash4Gold is the #1 American 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 with innovations in marketing, customer service, refining, and logistics. In 2001, Cash4Gold CEO Jeff Aronson founded Albar Precious Metals, a precious metals refinery in Chicago, IL. Then, in April of 2007, Aronson and Cash4Gold President Howard Mofshin co-founded the company known as Green Bullion Financial Services, LLC d/b/a Cash4Gold that now employs almost 300 people in its Florida headquarters. Cash4Gold 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's popular advertisements can be seen on national television and heard across the satellite and terrestrial radio dials. Please visit www.Cash4Gold.com, the Cash 4 Gold blog, or call 1-877-GOLD-590 for more information.
Friday, June 12, 2009
Today in Gold: Friday, June 12
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:
"US gold ends 2 pct lower,under $940 on dollar rise"
Author: James Pethokoukis
Website: Reuters.com
Main Points: Gold for August delivery plummeted a startling $21.30 to settle at $940.70 an ounce today. Gold fell as low as $936.20 (the weakest price since May 20) an ounce during the session, in reaction to the sharp rise of the dollar. The dollar had previously been weakened against the Euro but rallied today.
Analysis: Gold showed a small glimmer of hope yesterday, rising $7.30, but that flame was extinguished awfully quickly. It was the second drop of at least $10 this week (gold also fell $10.10 on Monday) and the fourth such drop this month. In fact, there have been three drops of $18.80 or higher (down $19.70 an ounce on June 5 and $18.80 on June 3). This is in stark contrast to a nearly flawless month of May when gold seemed destined to break $1,000 an ounce. The price dropped only four times during May and rose a total of $90.60 from May 4 to 29.
"US gold ends 2 pct lower,under $940 on dollar rise"
Author: James Pethokoukis
Website: Reuters.com
Main Points: Gold for August delivery plummeted a startling $21.30 to settle at $940.70 an ounce today. Gold fell as low as $936.20 (the weakest price since May 20) an ounce during the session, in reaction to the sharp rise of the dollar. The dollar had previously been weakened against the Euro but rallied today.
Analysis: Gold showed a small glimmer of hope yesterday, rising $7.30, but that flame was extinguished awfully quickly. It was the second drop of at least $10 this week (gold also fell $10.10 on Monday) and the fourth such drop this month. In fact, there have been three drops of $18.80 or higher (down $19.70 an ounce on June 5 and $18.80 on June 3). This is in stark contrast to a nearly flawless month of May when gold seemed destined to break $1,000 an ounce. The price dropped only four times during May and rose a total of $90.60 from May 4 to 29.
Thursday, June 11, 2009
Today in Gold: Thursday, June 11
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, other commodities higher as dollar wanes"
Author: Sara Lepro
Website: Google.com
Main Points: Gold for August delivery nudged up $7.30 to settle at $962 an ounce, amid renewed inflation fears.
Inflation became a greater possibility as signs point to a continued economic turnaround. The government announced last week that jobless claims fell, and a new report indicates that, for the first time in three months, retail sales were up in May.
The price of gold is up, but it's struggled of late and today's price increase may be the exception rather than the rule for the immediate future.
"Although we have been bullish on most metals for some time now, we are getting somewhat more wary about prices at these levels," according to Edward Meir of MF Global. He feared that gold and other commodities were approaching "overbought territory."
Analysis: We heard this yesterday as well. It's as though investors jumped on the bandwagon when it seemed there was no limit in sight for gold, but quickly jumped off when the price hit a wall before $1,000 an ounce. We ran through this same cycle a few months back after gold briefly pierced $1,000, only to fall below $900 shortly thereafter.
"Gold, other commodities higher as dollar wanes"
Author: Sara Lepro
Website: Google.com
Main Points: Gold for August delivery nudged up $7.30 to settle at $962 an ounce, amid renewed inflation fears.
Inflation became a greater possibility as signs point to a continued economic turnaround. The government announced last week that jobless claims fell, and a new report indicates that, for the first time in three months, retail sales were up in May.
The price of gold is up, but it's struggled of late and today's price increase may be the exception rather than the rule for the immediate future.
"Although we have been bullish on most metals for some time now, we are getting somewhat more wary about prices at these levels," according to Edward Meir of MF Global. He feared that gold and other commodities were approaching "overbought territory."
Analysis: We heard this yesterday as well. It's as though investors jumped on the bandwagon when it seemed there was no limit in sight for gold, but quickly jumped off when the price hit a wall before $1,000 an ounce. We ran through this same cycle a few months back after gold briefly pierced $1,000, only to fall below $900 shortly thereafter.
Wednesday, June 10, 2009
Today in Gold: Wednesday, June 10
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 ends unchanged on surging crude, stronger dollar"
Author: Moming Zhou
Website: MarketWatch.com
Main Points: Opposing forces kept the price of gold flat today. While oil rallied and increased inflation fears, the dollar strengthened, thereby canceling themselves out when valuing gold. The gold investment typically works in tandem with oil but in an inverse relation to the dollar.
After reaching as high as $966.70 and falling as low as $947.50, gold settled in the middle at $954.70 an ounce.
Expert opinion on the gold market was not particularly positive. "Short-term," said James Moore of TheBullionDesk.com, "we still view the market as overbought."
It should be noted that after the markets closed, gold for August delivery lost an additional $3.60 in electronic trading after a report from the Fed showed that the economy is moderating.
Analysis: It's the tale of two months, comparing May to June. If the comment from Moore is any indication, there is more of this to come in gold's immediate future -- though that could always change in July. As we've always said, gold will rise and gold will fall, but if you need money and have gold to sell, there is no better time to sell than now.
"Gold ends unchanged on surging crude, stronger dollar"
Author: Moming Zhou
Website: MarketWatch.com
Main Points: Opposing forces kept the price of gold flat today. While oil rallied and increased inflation fears, the dollar strengthened, thereby canceling themselves out when valuing gold. The gold investment typically works in tandem with oil but in an inverse relation to the dollar.
After reaching as high as $966.70 and falling as low as $947.50, gold settled in the middle at $954.70 an ounce.
Expert opinion on the gold market was not particularly positive. "Short-term," said James Moore of TheBullionDesk.com, "we still view the market as overbought."
It should be noted that after the markets closed, gold for August delivery lost an additional $3.60 in electronic trading after a report from the Fed showed that the economy is moderating.
Analysis: It's the tale of two months, comparing May to June. If the comment from Moore is any indication, there is more of this to come in gold's immediate future -- though that could always change in July. As we've always said, gold will rise and gold will fall, but if you need money and have gold to sell, there is no better time to sell than now.
Tuesday, June 9, 2009
Today in Gold: Tuesday, June 9
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, other commodities rebound as dollar declines"
Author: Sara Lepro
Website: Google.com
Main Points: The price of gold rebounded slightly today amid reports of a weakened dollar. Gold for August delivery was up $2.20 to settle at $954.70 an ounce.
"The dollar resumed its three-month decline against the euro and British pound," according to Lepro's article, "despite weak economic data out of Europe, helping to lift prices for gold and other commodities. Commodities have largely been at the mercy of the dollar in recent weeks, and tend to rise when the dollar falls and vice versa."
The dollar is thought to have been weakened by low interest rates and a massive governmental debt load.
Analysis: It's the first rise in three sessions, so it is far too soon to determine if the downward momentum has been halted in its tracks. After a largely positive month of May when gold appeared destined for $1,000 an ounce, June has been less optimistic.
"Gold, other commodities rebound as dollar declines"
Author: Sara Lepro
Website: Google.com
Main Points: The price of gold rebounded slightly today amid reports of a weakened dollar. Gold for August delivery was up $2.20 to settle at $954.70 an ounce.
"The dollar resumed its three-month decline against the euro and British pound," according to Lepro's article, "despite weak economic data out of Europe, helping to lift prices for gold and other commodities. Commodities have largely been at the mercy of the dollar in recent weeks, and tend to rise when the dollar falls and vice versa."
The dollar is thought to have been weakened by low interest rates and a massive governmental debt load.
Analysis: It's the first rise in three sessions, so it is far too soon to determine if the downward momentum has been halted in its tracks. After a largely positive month of May when gold appeared destined for $1,000 an ounce, June has been less optimistic.
Cash4Gold Advises Customers to Be Aware of Counterfeit Services
Company Warns Against Fraudulent Imitators
POMPANO BEACH, Fla.-- Cash4Gold, America's #1 gold buyer direct from the general public, advises its customers to be diligent when it comes to researching companies to buy their gold. Cash4Gold, the acknowledged industry leader as a direct-to-consumer refinery, has pioneered this new business and entered the pop culture lexicon with an entertaining Super Bowl ad starring celebrities Ed McMahon and MC Hammer.
However, having spawned this new industry, copycat companies have entered the space, some going so far as to fraudulently use the Cash4Gold logo in their marketing.
"We feel it's our duty to tell customers that there are impostors out there using our logo and trying to take advantage of them," said Cash4Gold Founder and CEO Jeff Aronson. "These cash for gold scams are hurting our reputation, but most importantly, it is going to be the consumer who suffers the most by not being protected by the official Cash4Gold 100% satisfaction guarantee."
The only way for customers to know for sure that they are dealing with Cash4Gold is to work with the company directly, either via the official website www.Cash4Gold.com or the toll free company hotline, 1-877-GOLD-590. When customers do not use the real Cash4Gold, scam artists can take advantage of customer faith in the Cash4Gold brand.
"All of our advertising and marketing points to the official website and our hotline," Aronson continued. "Any other use of our logo is fake, whether you see it being used to advertise a website, promote a gold swap party, or call attention to a gold buying event at a local hotel or mall. We want Cash4Gold customers to know the difference between us and a cash for gold scam. We are doing everything we can to stop these companies, but it takes time, so customers have to be careful."
Since 2007 Cash4Gold.com has provided a private, satisfaction-guaranteed service that has helped hundreds of thousands of people by paying out millions of dollars for scrap gold. Cash4Gold.com processes millions of pieces of jewelry every week for people looking to find value in old jewelry or scrap gold that might not be delivering any benefit otherwise.
Cash4Gold's leadership in this new industry also extends to working with the government and law enforcement agencies when it comes to customer rights. Cash4Gold recently worked with the Florida legislature to create and pass legislation on this topic and is proud to have worked closely with lawmakers to develop a bill increasing the transparency of transactions to law enforcement. As a result, Florida became the first state in the nation to pass legislation that will help regulate the industry and protect citizens.
About Cash4Gold
Cash4Gold is the #1 American 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 with innovations in marketing, customer service, refining, and logistics. In 2001, Cash4Gold CEO Jeff Aronson founded Albar Precious Metals, a precious metals refinery in Chicago, IL. Then, in April of 2007, Aronson and Cash4Gold President Howard Mofshin co-founded the company known as Green Bullion Financial Services, LLC d/b/a Cash4Gold that now employs almost 300 people in its Florida headquarters. Cash4Gold 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’s popular advertisements can be seen on national television and heard across the satellite and terrestrial radio dials. Please visit www.Cash4Gold.com, the Cash4Gold blog, or call 1-877-GOLD-590 for more information.
Disclaimer: Super Bowl® is a registered trademark of the National Football League and used for factual purposes only.
POMPANO BEACH, Fla.-- Cash4Gold, America's #1 gold buyer direct from the general public, advises its customers to be diligent when it comes to researching companies to buy their gold. Cash4Gold, the acknowledged industry leader as a direct-to-consumer refinery, has pioneered this new business and entered the pop culture lexicon with an entertaining Super Bowl ad starring celebrities Ed McMahon and MC Hammer.
However, having spawned this new industry, copycat companies have entered the space, some going so far as to fraudulently use the Cash4Gold logo in their marketing.
"We feel it's our duty to tell customers that there are impostors out there using our logo and trying to take advantage of them," said Cash4Gold Founder and CEO Jeff Aronson. "These cash for gold scams are hurting our reputation, but most importantly, it is going to be the consumer who suffers the most by not being protected by the official Cash4Gold 100% satisfaction guarantee."
The only way for customers to know for sure that they are dealing with Cash4Gold is to work with the company directly, either via the official website www.Cash4Gold.com or the toll free company hotline, 1-877-GOLD-590. When customers do not use the real Cash4Gold, scam artists can take advantage of customer faith in the Cash4Gold brand.
"All of our advertising and marketing points to the official website and our hotline," Aronson continued. "Any other use of our logo is fake, whether you see it being used to advertise a website, promote a gold swap party, or call attention to a gold buying event at a local hotel or mall. We want Cash4Gold customers to know the difference between us and a cash for gold scam. We are doing everything we can to stop these companies, but it takes time, so customers have to be careful."
Since 2007 Cash4Gold.com has provided a private, satisfaction-guaranteed service that has helped hundreds of thousands of people by paying out millions of dollars for scrap gold. Cash4Gold.com processes millions of pieces of jewelry every week for people looking to find value in old jewelry or scrap gold that might not be delivering any benefit otherwise.
Cash4Gold's leadership in this new industry also extends to working with the government and law enforcement agencies when it comes to customer rights. Cash4Gold recently worked with the Florida legislature to create and pass legislation on this topic and is proud to have worked closely with lawmakers to develop a bill increasing the transparency of transactions to law enforcement. As a result, Florida became the first state in the nation to pass legislation that will help regulate the industry and protect citizens.
About Cash4Gold
Cash4Gold is the #1 American 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 with innovations in marketing, customer service, refining, and logistics. In 2001, Cash4Gold CEO Jeff Aronson founded Albar Precious Metals, a precious metals refinery in Chicago, IL. Then, in April of 2007, Aronson and Cash4Gold President Howard Mofshin co-founded the company known as Green Bullion Financial Services, LLC d/b/a Cash4Gold that now employs almost 300 people in its Florida headquarters. Cash4Gold 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’s popular advertisements can be seen on national television and heard across the satellite and terrestrial radio dials. Please visit www.Cash4Gold.com, the Cash4Gold blog, or call 1-877-GOLD-590 for more information.
Disclaimer: Super Bowl® is a registered trademark of the National Football League and used for factual purposes only.
Monday, June 8, 2009
Today in Gold: Monday, June 8
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, Metals Slide on Dollar's Strength"
Author: Allen Sykora
Website: WSJ.com
Main Points: Gold for August delivery fell $10.10 to settle at $952.50 an ounce today, a slide driven primarily by a strengthening dollar.
George Gero, vice president of RBC Capital Markets Global Futures, pointed to a sell-off of Comex gold, losing nearly 10,000 contracts.
"I think there is a little more downside to this," said Daniel Pavilonis, senior market strategist with Lind-Waldockas, "long as the dollar continues to rally," He expects gold to rise again once the dollar weakens.
Analysis: The slide continues. Not only has gold fallen nearly $30 spanning the past two sessions, but the price of gold has fallen $10 or more in three of the past four (including Wednesday, when it fell $18.80).
Experts had issued the warning that gold historically drops sharply upon approaching or briefly eclipsing $1,000 an ounce. That certainly has been the case since last week, after a more or less spotless month of May in which $1,000 seemed to be automatic.
"Gold, Metals Slide on Dollar's Strength"
Author: Allen Sykora
Website: WSJ.com
Main Points: Gold for August delivery fell $10.10 to settle at $952.50 an ounce today, a slide driven primarily by a strengthening dollar.
George Gero, vice president of RBC Capital Markets Global Futures, pointed to a sell-off of Comex gold, losing nearly 10,000 contracts.
"I think there is a little more downside to this," said Daniel Pavilonis, senior market strategist with Lind-Waldockas, "long as the dollar continues to rally," He expects gold to rise again once the dollar weakens.
Analysis: The slide continues. Not only has gold fallen nearly $30 spanning the past two sessions, but the price of gold has fallen $10 or more in three of the past four (including Wednesday, when it fell $18.80).
Experts had issued the warning that gold historically drops sharply upon approaching or briefly eclipsing $1,000 an ounce. That certainly has been the case since last week, after a more or less spotless month of May in which $1,000 seemed to be automatic.
New York Times on June 8: "The Industry Leader is Cash4Gold"
The advertising section of The New York Times today reported that Cash4Gold is the industry leader in the mail-in refining business that the company pioneered.
A column which appeared in today’s print and online editions of the newspaper noted that Cash4Gold.com's "best known commercial made its debut during the Super Bowl" last year and has led to a tripling in the number of transactions it performs for its customers.
Quotes from Cash4Gold's CEO Jeff Aronson to The Times underscored the company's total commitment to providing 100 percent customer satisfaction in each of the 900,000 transactions the company has performed so far.
Today's mention in the New York Times comes on the heels of a June 5 CBS News story announcing Cash4Gold's estimate of the value of a necklace received as a gift by President Barack Obama during a visit to Saudi Arabia.
Certified jewelers at Cash4Gold examined photographs of the King Abdul Aziz Order of Merit given to the President Obama by Saudi King Abdullah, estimating that the gold necklace and medallion contain as much as $25,000 worth of gold.
In a statement, Cash4Gold noted that because the piece confers Saudi Arabia’s highest honor on President Obama and was given to President Obama on a historic visit to the Middle East, the symbolic value of the piece most likely surpasses its melt value.
"I do not expect that President Obama will mail his King Abdul Aziz Order of Merit to Cash4Gold, but if the Obamas or any other Americans want to tap the value of old or broken gold jewelry lying around the house, now would be a great time to send it to Cash4Gold," said CEO Jeff Aronson.
A column which appeared in today’s print and online editions of the newspaper noted that Cash4Gold.com's "best known commercial made its debut during the Super Bowl" last year and has led to a tripling in the number of transactions it performs for its customers.
Quotes from Cash4Gold's CEO Jeff Aronson to The Times underscored the company's total commitment to providing 100 percent customer satisfaction in each of the 900,000 transactions the company has performed so far.
Today's mention in the New York Times comes on the heels of a June 5 CBS News story announcing Cash4Gold's estimate of the value of a necklace received as a gift by President Barack Obama during a visit to Saudi Arabia.
Certified jewelers at Cash4Gold examined photographs of the King Abdul Aziz Order of Merit given to the President Obama by Saudi King Abdullah, estimating that the gold necklace and medallion contain as much as $25,000 worth of gold.
In a statement, Cash4Gold noted that because the piece confers Saudi Arabia’s highest honor on President Obama and was given to President Obama on a historic visit to the Middle East, the symbolic value of the piece most likely surpasses its melt value.
"I do not expect that President Obama will mail his King Abdul Aziz Order of Merit to Cash4Gold, but if the Obamas or any other Americans want to tap the value of old or broken gold jewelry lying around the house, now would be a great time to send it to Cash4Gold," said CEO Jeff Aronson.
Friday, June 5, 2009
Today in Gold: Friday, June 5
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:
"US gold ends 2 pct down, near $950/oz on dlr rally"
Author: James Pethokoukis
Website: Reuters.com
Main Points: Gold for August delivery fell $19.70 to finish the week at $962.60 an ounce amid better than expected jobless reports. The price was as low as $953.80 an ounce, the lowest since May 28.
Some analysts believe that gold could weaken further based on historic data following a rally approaching $1,000 an ounce during the past two years.
Analysis: What a week in gold.
Monday: Down $.30
Tuesday: Up $3.20
Wednesday: Down $18.80
Thursday: Up $16.70
Friday: Down $19.70
Overall, gold was down $16.20 since the end of last week's session. After a month dominated by rallies, gold dropped $18 or more in one session twice this week -- and twice in three days. The charting history of falling after approaching $1,000 an ounce certainly works so far. We'll see where we go from here next week.
"US gold ends 2 pct down, near $950/oz on dlr rally"
Author: James Pethokoukis
Website: Reuters.com
Main Points: Gold for August delivery fell $19.70 to finish the week at $962.60 an ounce amid better than expected jobless reports. The price was as low as $953.80 an ounce, the lowest since May 28.
Some analysts believe that gold could weaken further based on historic data following a rally approaching $1,000 an ounce during the past two years.
Analysis: What a week in gold.
Monday: Down $.30
Tuesday: Up $3.20
Wednesday: Down $18.80
Thursday: Up $16.70
Friday: Down $19.70
Overall, gold was down $16.20 since the end of last week's session. After a month dominated by rallies, gold dropped $18 or more in one session twice this week -- and twice in three days. The charting history of falling after approaching $1,000 an ounce certainly works so far. We'll see where we go from here next week.
Thursday, June 4, 2009
Today in Gold: Thursday, June 4
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:
"US gold rises 2 pct on crude rally, inflation fears"
Author: James Pethokoukis
Website: Reuters.com
Main Points: Following the biggest drop in more than a month on Wednesday, the price of gold nearly made up all of the ground it lost by rising $16.70 to finish Thursday's session at $982.30 an ounce.
The jump was largely attributed to oil. Goldman Sachs raised its oil forecast from $65 to $85 a barrel for 2009. Goldman also labeled the recent oil rally as the first stage in economic recovery.
Analysis: Gold and oil typically maintain a ratio of around 14:1 -- it finished at 14.14 today.
Note that during the past two years, gold has historically dropped sharply after approaching or eclipsing the $1,000 threshold. It did so yesterday, and tomorrow could be a sign of what is to come.
"US gold rises 2 pct on crude rally, inflation fears"
Author: James Pethokoukis
Website: Reuters.com
Main Points: Following the biggest drop in more than a month on Wednesday, the price of gold nearly made up all of the ground it lost by rising $16.70 to finish Thursday's session at $982.30 an ounce.
The jump was largely attributed to oil. Goldman Sachs raised its oil forecast from $65 to $85 a barrel for 2009. Goldman also labeled the recent oil rally as the first stage in economic recovery.
Analysis: Gold and oil typically maintain a ratio of around 14:1 -- it finished at 14.14 today.
Note that during the past two years, gold has historically dropped sharply after approaching or eclipsing the $1,000 threshold. It did so yesterday, and tomorrow could be a sign of what is to come.
Wednesday, June 3, 2009
Today in Gold: Wednesday, June 3
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 prices fall sharply as dollar rebounds"
Author: Sara Lepro
Website: Google.com
Main Points: Gold dropped sharply today, falling $18.80 to finish at $965.60 an ounce. Meanwhile, the US dollar rebounded against the Euro and British pound.
Much of today's activity was in reaction to comments from Federal Reserve Chairman Ben Bernanke, who played down the threat of inflation and expressed concern over the country's massive debt load.
Analysis: Gold continues to be quite unpredictable on a day-to-day basis. The price of gold dropped during only five sessions in May, and two of those drops were less than $1.50. After being relatively flat the first two days of June, the bottom falls out today.
"Gold prices fall sharply as dollar rebounds"
Author: Sara Lepro
Website: Google.com
Main Points: Gold dropped sharply today, falling $18.80 to finish at $965.60 an ounce. Meanwhile, the US dollar rebounded against the Euro and British pound.
Much of today's activity was in reaction to comments from Federal Reserve Chairman Ben Bernanke, who played down the threat of inflation and expressed concern over the country's massive debt load.
Analysis: Gold continues to be quite unpredictable on a day-to-day basis. The price of gold dropped during only five sessions in May, and two of those drops were less than $1.50. After being relatively flat the first two days of June, the bottom falls out today.
Tuesday, June 2, 2009
Today in Gold: Tuesday, June 2
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 Runs Back Toward $1,000 an Ounce"
Author: Carolyn Cui
Website: WSJ.com
Main Points: After finishing essentially flat on Monday, gold regained its upward momentum and rose $3.20 to finish Tuesday at $983.20 an ounce.
Part of the equation for the rise of gold has been the weakening dollar. As the US dollar weakens, gold strengthens -- historically speaking. Since mid-April, the dollar has dropped 9% while gold has risen 13%.
"I think we are getting into the final part of this particular rally," said Philip Klapwijk of GFMS Ltd., which forecasts gold's average price at $970. He says that the higher price will result in lower jewelry demand and higher scrap gold sales, "which is not a good combination for gold."
Analysis: Combined with the expected 403 ton sale of gold by the IMF, the scrap and jewelry market balance are all reasons why we shouldn't expect the price of gold to rise much higher. The jewelery industry is already struggling due to the high gold price; a higher price will only damage it further. As the price rises, selling scrap gold will become bigger and bigger business, thus putting more gold into the system. Supply is strengthened, demand is weakened.
"Gold Runs Back Toward $1,000 an Ounce"
Author: Carolyn Cui
Website: WSJ.com
Main Points: After finishing essentially flat on Monday, gold regained its upward momentum and rose $3.20 to finish Tuesday at $983.20 an ounce.
Part of the equation for the rise of gold has been the weakening dollar. As the US dollar weakens, gold strengthens -- historically speaking. Since mid-April, the dollar has dropped 9% while gold has risen 13%.
"I think we are getting into the final part of this particular rally," said Philip Klapwijk of GFMS Ltd., which forecasts gold's average price at $970. He says that the higher price will result in lower jewelry demand and higher scrap gold sales, "which is not a good combination for gold."
Analysis: Combined with the expected 403 ton sale of gold by the IMF, the scrap and jewelry market balance are all reasons why we shouldn't expect the price of gold to rise much higher. The jewelery industry is already struggling due to the high gold price; a higher price will only damage it further. As the price rises, selling scrap gold will become bigger and bigger business, thus putting more gold into the system. Supply is strengthened, demand is weakened.
Monday, June 1, 2009
Today in Gold: Monday, June 1
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 prices flat as dollar falls, stocks rally"
Author: Sara Lepro
Website: Google.com
Main Points: Gold for June delivery dropped 30 cents to settle at $980 an ounce as appetite for riskier stocks increased -- despite a weaker dollar. Gold typically thrives on a weakened dollar, but it may have been what kept its value afloat amid increasing investor optimism.
Better-than-expected reports on manufacturing, construction and consumer spending led investors away from gold, generally considered a safe haven asset during tough economic times. The reports were so good that there were whispers that the recession may be coming to an end.
"Today you've seen money move into stocks," said George Gero of RBC Capital Markets Global Futures. "People are more willing to buy some risk than they were a week ago."
Analysis: Gold was in the midst of an incredible rally. Is it over? This goes to show you, once again, how quickly things can change. If similar reports continue to come in about the recession's upcoming demise, gold's value will lean heavily on its inflation hedge appeal.
If the dollar doesn't weaken yet again tomorrow, you'd have to expect this latest information is bad news for the immediate future of gold.
"Gold prices flat as dollar falls, stocks rally"
Author: Sara Lepro
Website: Google.com
Main Points: Gold for June delivery dropped 30 cents to settle at $980 an ounce as appetite for riskier stocks increased -- despite a weaker dollar. Gold typically thrives on a weakened dollar, but it may have been what kept its value afloat amid increasing investor optimism.
Better-than-expected reports on manufacturing, construction and consumer spending led investors away from gold, generally considered a safe haven asset during tough economic times. The reports were so good that there were whispers that the recession may be coming to an end.
"Today you've seen money move into stocks," said George Gero of RBC Capital Markets Global Futures. "People are more willing to buy some risk than they were a week ago."
Analysis: Gold was in the midst of an incredible rally. Is it over? This goes to show you, once again, how quickly things can change. If similar reports continue to come in about the recession's upcoming demise, gold's value will lean heavily on its inflation hedge appeal.
If the dollar doesn't weaken yet again tomorrow, you'd have to expect this latest information is bad news for the immediate future of gold.
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