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Los Angeles, CA – Precious metals took a sharp drop on Monday as news of the European debt crisis appears to be taking a turn for the worse. Gold moved down beneath $1700 an ounce as investor fear led to liquidation of everything except government bonds and the need for traders to raise cash to

Los Angeles, CA – The price of gold rose almost 7% to above $1700 an ounce on in one week as details of Europe’s plan to solve their almost two year old sovereign debt crisis was revealed. And while details are still being finalized, Greek Bondholders will take a 50% cut on bonds and European

Los Angeles, CA – The price of gold dropped this week after the Fed’s announcement and the continued turbulence in the Eurozone. On Wednesday, Federal Reserve chairman Ben Bernanke announced “Operation Twist” – a plan for the Fed to sell $400 billion in shorter-term securities to buy longer-term holdings in effort to boost the weak U.S. economy. The Fed’s

Los Angeles, CA – The arrival of the Labor Day weekend was met with the bemoaning for the lack of labor; a government report released on Friday stated the unemployment rate remained at a high rate of 9.1%, causing a ripple effect in the economy and stock market.  The gloomy unemployment news caused investor jitters