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Precious Metals

Precious Metals

Why Gold Prices Fell Yesterday

Gold prices seem to have stabilized today, trading once again above the $1,300 an ounce mark.

This follows a tumble yesterday of more than $40 an ounce to as low as $1,284 an ounce. That price was nearly a two-month low and put the precious metal down 23% in 2013.

At that level, gold was trading more than $50 below its 50-day moving average. To technical analysts, this confirmed the downtrend in the precious metal, bringing about a wave of selling by those who strictly follow the charts.

However, there were factors at play in gold's selloff other than technical selling.

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Precious Metals

Investing in Silver Now Is Outshining Gold

Precious metals investors are investing in silver now at a higher rate than gold – and the price is rewarding them.

The physically backed iShares Silver Trust (NYSE: SLV) took in $88.2 million in new money last month, according to data from IndexUniverse. UBS expects holdings in major silver exchange-traded funds (ETFs) worldwide to grow by 10 million ounces (311 tons) this year.

That's a stark contrast to the $227 million of outflows in the gold-backed SPDR Gold Trust (NYSE: GLD) and $6.66 billion among fixed-income funds.

Here's why those bets will pay off.

Precious Metals

Higher Gold Prices in 2014

Gold prices today continue to bounce up and down based on speculative headlines.

A possible U.S. attack on Syria, a possible quantitative easing (QE) taper by the U.S. Federal Reserve – these possibilities have meant daily volatility in the price of gold.

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Precious Metals

Investing in Silver: Why the White Metal Will Continue to Outperform

Anyone investing in silver last month enjoyed gains as silver exchange-traded funds such as the ETFS Physical Silver Shares Trust (NYSE Arca: SIVR) were among August's top-performing funds. The funds followed the price of silver upward during the month, which surged about 20%.

Silver has now gained 29% from a 34-month low hit on June 28.

Precious Metals

Silver Price News Today

Topping silver price news today is how the flight-to-safety trade is back on, as evidenced by recent moves in commodities.

Despite some profit taking Friday, silver prices rose roughly 5% this week and 1% last week. That helped the white metal log a sterling 21.3% gain for August and nearly 30% over the last nine weeks.  

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Precious Metals

Gold Price News Today

Today the gold price seems to be taking a break from its recent run-up, but not before briefly pushing past the psychologically important $1,400 level.

Following a 1.8% surge on Friday, gold prices hit $1,407 in trading in Asia early this morning (Monday) and then pulled back to $1,390 before settling at about $1,395 an ounce.

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Precious Metals

How China Makes Investing in Gold a Winning Move

Gold prices today touched over $1,346 an ounce – continuing this week's rise to the highest level in three weeks.

This move came despite news that larger investors are no longer investing in gold as much as earlier this year.

Billionaire investor George Soros sold his entire position in the SPDR Gold Trust (NYSEArca: GLD) in the second quarter of 2013. Another billionaire investor, John Paulson, reduced his holdings in GLD by 53% in Q2.

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Precious Metals

Today's "Gold Convergence" Is Your Best Buy Signal Yet

We've been recommending gold shares for months now, ever since prices collapsed in April. But timing's getting critical, because now the market is telling you gold is set to surge…

The first piece of evidence hit my radar on August 1st, moments after Barrick Gold released its $8.7 billion "news." (More on that in a minute.)

Precious Metals

Investing in Gold Mining Companies: Don't Ignore This Number

In mid-July, anyone investing in gold mining companies saw their year-to-date share prices fall to levels not seen since the 2008 financial crisis, down more than 50% on the year.

As Money Morning Global Investing Strategist Martin Hutchinson pointed out, no sector right now is more unloved than the gold sector.

Precious Metals

Where Silver Prices Are Trading Today – and What's Next

Silver prices today continue to wander aimlessly around the $20-an-ounce level as the white metal is buffeted by many of the same factors restraining the gold price. This drifting comes after a dramatic drop of 35% in the first half 2013.

As with gold, much of the drop is due to fears that the U.S. Federal Reserve will begin "tapering" purchases of bonds from its current $85 billion-a-month level. If this comes to pass, the financial markets currently believe this will reduce excess liquidity and therefore any possible inflationary fires.

Here's what investors watching today's silver price have to understand…

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