Bullion Breakfast Gold Price Smackdown Episode – 12

Bullion Breakfast Gold Price Smackdown Episode – 12


Gold hits bear market territory with gold
futures falling as low as $1,321, early Monday. What drove the sell-off? Hello, I’m David Kim and this is Bullion Breakfast. The question on everyone’s mind is what drove
the plunge in gold prices which are now down 26% from their 2011 high. As might be expected, the opinions on gold’s
drop are all over the map. Perhaps the most cited reason is concerns
that Cyprus’ planned sale of gold would be followed by sales from other highly indebted
European countries. Gold futures trading opened on Friday, April
12th with a 100 ton sale. This was followed two hours later with an additional 300 ton
sale. Gold prices have since stabilized and there
is a wealth of anecdotal evidence that the price drop is being met with a surge in physical
demand. According to the basic laws of macroeconomics,
a supply shortage should translate into higher prices, but gold and silver remain unable
to gain any real traction. we would love to hear your thoughts on whether
the decline in precious metals prices represent a buying opportunity, or whether it presages
more declines. For those of you thinking about making a purchase
today, check out this great bullion product. GainesvilleCoins.com presents the Graded 2013
1oz American Gold Buffalo with a perfect NGC Rating. This coin carries the highest score
on the scale, MS70. Struck with 1oz of 24 karat gold, the American
Buffalo rivals the Canadian Maple Leaf. The reverse features James Frassure’s depiction
of a Native American chief. He created the image by blending the features of three different
people. For this and the best in precious metal products
visit us at GainesvilleCoins.com James from Florida asked, “Why are the premiums
different for the 2013 1oz Silver Eagle and the 2013 1oz Silver Maple?” A fine question James. The premiums associated with different products
are in large measure, a reflection of their cost to Gainesville Coins. National Mints and private mints all have
different cost structures and profit margins. To put it simply, the US Mint charges dealers
more for the 1oz Silver Eagle than the Royal Canadian Mint charges for the 1oz Silver maple. I hope that answers your question, James. If you have a question feel free to call us
at (813) 482-9300, or you can email me at [email protected] Bullion Breakfast is part of the Gainesville
Coins family. So like us on Facebook and follow us on Twitter. And until next time I’m your host, David Kim. You may have seen Teddy the Bengal on Animal
Planet or Yahoo. On the next episode of “The Coin Explorer”,
he will be helping me look at the gold and silver Isle of Man Cat coins. Join us then. And remember, it’s all about
the shinies.

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