Welcome to the Silvertowne Vault Cast, helping you protect yourself against inflation and preserve wealth with physical Gold and Silver
My name is Shawn Ozbun, and our goal is to keep you up to date with what’s going on in the world of Gold and Silver by providing you with current news and precious metals pricing.
The Silvertowne Vault Cast is brought to you by www.Silvertowne.com
Thanks again for listening in on the Silvertowne Vault Cast. The plan is to continue to release a new podcast every Monday and Thursday. Now if you really enjoy the Silvertowne Vault Cast and you would like for there to be more then two episodes per week then please let us know. You can do this by reaching out to us on our Facebook page at www.facebook.com/silvertowne or better yet I would love for you to go to iTunes and subscribe and give us a rating and leave us a comment on what you think about the podcast. We have had a few comments on our YouTube channel were we also post our podcast, so thank you so much for taking the time to do that. Ok lots to cover in the news today but first let’s gets into the current precious metals pricing.
[ August 27, 2012 ]
Gold - $1669.80
Silver - $30.89
Platinum - $1550
Palladium - $658
Financial News:
Gold Bulls Strongest In Nine Months As Hoard Builds
Twenty-nine of 35 analysts surveyed by Bloomberg expect prices to rise next week and three were bearish. A further three were neutral, making the proportion of bulls the highest since Nov. 11. Investors bought 51.7 metric tons valued at $2.77 billion through gold-backed exchange-traded products this month, the most since November, overtaking France as the world’s fourth-largest hoard when compared with national reserves.
Data released yesterday showed Chinese manufacturing at its weakest since November, signaling the nation may need more action to rebound from six quarters of slowing growth. European leaders are still struggling to contain the debt crisis. Minutes of the Federal Reserve’s most recent meeting showed many policy makers favor more stimulus. Gold rose 70 percent as the Fed bought $2.3 trillion of debt in two rounds of quantitative easing from December 2008 through June 2011. Read More...
India's gold prices hit record high
Gold prices in India hit a lifetime high on Thursday, in line with global trends, as stockists and investors bought up the metal, traders said.
Investors tend to turn to the precious metal as a safe haven during uncertainty, while the stockists anticipate family buying during the festive and marriage season, which runs from September to December. Read More...
Republicans Eye Return to Gold Standard
The gold standard has returned to mainstream U.S. politics for the first time in 30 years, with a “gold commission” set to become part of official Republican party policy.
Drafts of the party platform, which it will adopt at a convention in Tampa Bay, Florida, next week, call for an audit of Federal Reserve monetary policy and a commission to look at restoring the link between the dollar and gold.
The move shows how five years of easy monetary policy — and the efforts of congressman Ron Paul — have made the once-fringe idea of returning to gold-as-money a legitimate part of Republican debate. Read More...
Gop's gold standard idea comes up short
Tapping a popular idea to restore confidence in the dollar, the Republican Party is expected to call for a commission to look at the idea of returning the U.S. to the gold standard.To make that happen, they're going to have to find a lot more gold. The idea, which has gained currency since the Federal Reserve flooded the financial system with money following the Panic of 2008, will be floated as a proposed plank in the party platform, to be voted on this week at the GOP convention in Tampa, Fla.
The U.S. holds 8,133 metric tons of gold reserves, according to the World Gold Council, or about 261 million ounces. At current market prices of about $1,667 an ounce, those reserves are worth roughly $435 billion.
That would cover less than 3 percent of the $15.9 trillion in Treasury debt outstanding. To back its entire debt, the U.S. would somehow have to acquire pretty much all of the worlds’ reserves -- estimated at 31,353 tons, or just over a billion ounces. Read More...
Leon Adds to His Awards Shelf with 2012 Hall of Fame Induction
Leon Hendrickson, founder of SilverTowne, has made many friends over the years – and in turn has earned many numismatic-related awards. His most recent accomplishment comes from being honored with an induction into the PCGS CoinFacts™ Coin Dealer Hall of Fame in early August 2012 during the American Numismatic Association (ANA) World’s Fair of Money.
Leon, along with two other 2012 honorees (David Hall and Abe Kosoff), were selected by a committee of their peers, including the three living Hall of Fame inductees from previous years.
Leon started dealing in coins in 1949 when he began buying and selling coins that he kept in a cigar box under the counter at The Rainbow Restaurant, a Winchester, Indiana diner where he worked at the time. He continued to grow his coin business and became a full-time dealer in 1967.
According to a PCGS press release about the 2012 Hall of Fame induction ceremony “Since then he (Leon) has perhaps sold more coins by dollar volume than any dealer in history
Everyone at SilverTowne congratulates Leon on his PCGC CoinFacts™ Coin Dealer Hall of Fame award, as well as all of his lifelong achievements. Read More...
Thanks for listening to the Silvertowne vault cast, you can always find our show in iTunes and we would really appreciate you would take a few minutes and rate our podcast in the iTunes store.
For the best source for acquiring gold and silver please contact Silvertowne at 1-877-477- coin, that’s 1-877-477-2646 or you can visit us at www.silvertowne.com. Silvertowne has been a trusted precious metals and numismatics dealer since 1949.
One of the most common ways to invest in silver is with silver ingot . They are affordable, portable and easy to stack and store. Popular SilverTowne Trademark Silver Bars, featuring a classic prospector and his donkey, are guaranteed .999 fine silver and available in 1, 5 and 10 ounce sizes and SilverTowne is currently offering free shipping for these ingots. Contact Silvertowne today.
[Disclaimer] Shawn Ozbun is not a licensed financial adviser, there is risk associated with all investment including gold and silver. You should seek advise from a licensed financial expert before making a purchase.
