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  • The Number One Fear Americans Have about Retirement

    • May 27, 2014
    • Category: Retirement

    Bank of America recently conducted their bi-annual survey in which 1,000 affluent Americans (having $50,000-$250,000 in investable assets) were asked about their “financial concerns, priorities and behaviors”. The report found that respondents fear running out of money for retirement more than public speaking, gaining weight, or going to the dentist. Interestingly, despite this fear, many

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  • International Developments Contribute to Gold’s Rise This Week

    • May 23, 2014
    • Category: News

    Just as Wednesday’s article suggested, gold responded positively to the news that India elected a new government that may further ease restrictions on gold imports. Gold ready for June delivery was up by $10.50 (or 0.8%), making yesterday’s gold price $1,298.60 an ounce. Silver also rose by 1.2%. Naeem Aslam, chief market analyst at AvaTrade,

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  • India’s Gold Demand May Double This Year

    • May 21, 2014
    • Category: News

    Remember from our article on 5 Interesting Facts about Gold Smuggling that India is the world’s largest consumer of gold, and that most of the world’s gold smuggling occurs there? This is due to strict limitations and high taxes on gold imports. Smuggling allows individuals to bypass those laws. However, gold smuggling may now slow

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  • What is the Relationship Between Gold and Oil Prices?

    • May 20, 2014
    • Category: Gold

    We’ve explained to you before the relationship between gold and inflation, but have you ever wondered about the relationship between the gold price and the price of other commodities, such as oil? James Steel, Chief Commodities Analyst at HSBC Bank, spoke with CNBC during its “Commodities Corner” segment about how oil price movement affects gold. To summarize

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  • Platinum Extends Gains Amid Mine Closings and Supply Concerns

    • May 19, 2014
    • Category: News

    Impala Platinum Holdings, the world’s largest platinum mine, recently announced that its production will be halted until at least the middle of this year, even if the dominant union, the Association of Mineworkers and Construction Union (AMCU), resolves the work stoppage soon. About 70,000 members of the AMCU have been on strike since January 23,

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  • This Week in Gold: Price Rebounds and Gold Smuggling

    This week in gold, we learned five interesting facts about gold smuggling and why the phenomenon is important, and saw gold and silver make a rebound on account of the violent situation in Ukraine and some mixed U.S. economic data. Gold and Silver on the Rebound The situation in Ukraine had another stroke of violence

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  • Gold and Silver Make Sudden Rebound

    • May 14, 2014
    • Category: News

    Yesterday, May 13th, the gold spot price closed at $1294.80, while the silver spot price closed at $19.47. Today, gold and silver have made a sudden rebound after taking a hit earlier in the morning. But why the sudden change in such a short period of time? The Situation in Ukraine Gets Violent Ukraine has

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  • 5 Interesting Facts about Gold Smuggling

    • May 12, 2014
    • Category: Gold

    Smuggling of items usually occurs in attempt to bypass import and export laws and taxes. In India, the world’s largest consumer of gold, this is certainly the case. India loves its gold and often hoards it as a store of wealth. In June of 2013, a higher duty (tax) on gold jewelry was introduced. Over

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  • This Week in Gold: $1300 Resistance, SEP vs. 401(k), Celeb Investments

    This week in gold, we saw the gold price break the $1300 resistance level over Ukraine concerns and U.S. economic activity, learned the benefits of and differences between a SEP IRA and a 401(k), and had some fun with hypothetical celebrity investments in gold. Gold breaks $1300…for a little bit On Monday, gold reached a

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  • What If These 9 Celebrities Had Purchased Gold?

    • May 9, 2014
    • Category: Gold

    Let’s have some fun. Imagine that the following celebrities bought $10,000 worth of gold the year they were born. If they had kept the gold until today, 20, 60, even 116 years later, what would it be worth in U.S. dollars now?* How much more money would Oprah, Justin Bieber, and Bob Barker have? The

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