December Podcast Archives

12-29-10 -- Metals reach for new highs -- Listen
Thin trading and a lower U.S. dollar elevated both precious metals Wednesday . Gold closed at $1,412 per ounce, silver at $30.59 per ounce hit a 30-year high. After 33 years, the Bureau of Labor Statistics has greatly expanded the definition of "unemployed," adding 3 years to the classification... More than 40% of those unemployed have been so for more than 6 months," reports USAToday...

12-28-10 -- The two pillars of gold -- Listen
Precious metals lurched higher Tuesday on year-end bargain hunting and a weaker dollar after downbeat housing data. Gold $1,406/oz., silver $30.30/oz. 'The two pillars of gold, in any country’s currency, are negative real interest rates and deficit spending,' says Frank Holmes, CEO of U.S. Global Investors. Holmes thinks that low interest rates won’t be going anywhere anytime soon," reports IBTimes...

12-27-10 -- Metals shield "apocalyptic pain" -- Listen
Gold gained slightly Monday in light holiday trading. At close, the dollar had dropped against the Euro, with gold at $1,384 per ounce and silver level at $29.28/oz. "Apocalyptic pain from an out-of-control debt could cause a massive contraction in the economy that would destroy the middle class," said Sen. Tom Coburn, R-Okla., who recently issued a report on government waste, reports FoxNews...

12-24-10 -- Merry Christmas from Swiss America -- Listen
Precious metals ended virtually unchanged for the week, on quiet, narrow-range trading as the holidays and 2011 approach. Silver and gold closed at $29.32 and $1380 per ounce. Clips of Craig R. Smith, (author of Crashing the Dollar), from his "Economic Solutions 2011" DVD: "We believe we are flying the U.S. dollar into the ground. We must bring this airplane out of its tailspin, or we will lose our reserve currency status, our interest rates will go up dramatically, and we will lose our historical trading advantages."

12-22-10 -- Prepare Against "The Three D's" -- Listen
Gold and silver ended near-even Wednesday in quiet, minimal trading, due to a short holiday week. Gold closed down a dollar at $1385 per ounce; silver down just above a dime at $29.23/oz. Five years ago, Craig R. Smith warned of the three dangers of debt, deficits, and the (devalued) dollar. Now, Mr. Smith states, "The dollar is in real, potentially fatal trouble. Because we've tapped out all of our resources of borrowing all over the world, nobody want to lend us money that we're going to have to depreciate, and I believe the only option this Federal Reserve and our Government has, is to inflate our way out of the problem."

12-21-10 -- Gold: the currency alternative -- Listen
Gold was virtually unchanged on Tuesday, closing at $1385 per ounce. Silver was also flat, closing at $29.32/oz. In 2010, the gold price has gained more than 26% in Dollars, 32% in Sterling, and 37% versus the Euro. "I've never been a long term advocate of gold as an alternative to currencies, but it has now adopted that role. I forecast gold to rise to $1600 in 2011," says Ian Henderson at J.P.Morgan Asset Management" reports Reuters...

12-20-10 -- Precious metals rise with worry -- Listen
Gold and silver prices ended modestly higher Monday on fresh safe-haven investor buying demand, continued Korean concerns and the EU debt saga. Gold and silver closing near $1,385 and $29.35 per ounce. "More than 100 American cities could go bust next year, derailing the US economic recovery.

12-15-10 -- Metals buying opp on dollar bounce -- Listen
Wednesday precious metals were pressured by a firmer U.S. dollar and some pre-holiday profit-taking. Gold closed down to $1,380 per ounce, with silver lower at $28.80/oz. "Here we sit on the cusp of another year, where the bull market in gold and silver is now legislated into continuing, thanks to the...American government. There is now absolutely no doubt that gold and silver with both continue to power higher throughout 2011," reports James West of ...

12-14-10 -- Metals Steady on Fed Statement -- Listen
Tuesday the Federal Reserve left key interest rates and the size of its bond-purchase program unchanged as expected, while emphasizing job creation. There was no hint that members of the FOMC regretted their decision to launch QE2, although bond yields have soared since then, exactly the opposite reaction expected by the Fed. Silver and gold remained steady on a flat dollar, closing at $29.45 and $1,396 per ounce...

12-13-10 -- Silver Spikes as Gold Gains -- Listen
Silver ended up at $29.55 per ounce, while gold gained ground Monday closing at $1395, assisted by a weaker dollar and higher crude oil prices. Meanwhile, head of the White House's National Economic Council, Lawrence Summers issued a defiant warning to Congress to not make tax cuts permanent in two years, saying "the economy may be out of the intensive care unit...but beginning to address chronic ailments..."

12-10-10 -- Metals finish week strong -- Listen
Gold rebounded from morning lows Friday on a combination of bargain hunting and short covering. Weekly closing price for gold was $1,386/oz., silver $28.63/oz. Working in retirement is the new normal for Middle Class Americans, concludes a Wells Fargo retirement survey. Three in four Americans expect to work through retirement years. In addition, average Americans are woefully underfunded, with less than 7% of their desired retirement nest egg saved...

12-9-10 -- Fed will print to stop bond meltdown -- Listen
Gold and silver prices climbed on bargain-hunting buying Thursday. Modest dollar gains restrained the rebound slightly. Gold closed at $1,387, silver at $28.75. "Despite the Feds massive intervention Bonds are falling rapidly and interest rate yields are rising. This strengthens the dollar, the exact opposite of what the Fed wants. The Fed will print, print, print to try to stop the Bond meltdown," reports Trader Jim at ...

12-8-10 -- Metals Drop -- Buying Opp -- Listen
Wednesday gold prices dropped on profit-taking to $1381 an ounce and silver at $28.36 an ounce, on a firmer U.S. dollar and higher Treasury yields. "US Treasuries suffered their biggest two-day sell-off since the collapse of Lehman Brothers, following a torrid month that has seen borrowing costs for western governments soar by more than 25% in the past month," reports FT...

12-7-10 Gold Market News- Listen
Precious metals fell on profit-taking Tuesday, as the dollar firmed. Gold closed at $1401 per ounce, silver last traded at $28.65 per ounce. Higher U.S. Treasury yields improved the dollar's relative value due to a tax extension agreement between the Obama administration and Republicans. Meanwhile, Richard Russell warns, "The fight against deflation will literally kill the dollar." ...

12-6-10 -- Metals zoom to fresh records -- Listen
Monday precious metal prices hit fresh nominal records amid EU worries and Fed comments. Gold closed at $1,424/oz. Silver ended at $30.08/oz. Fed Chairman Ben S. Bernanke said the central bank may boost Treasury purchases. "Further currency debasement is the new norm. As long as that stands, investors are going to buy metals as a hedge against paper money," reports Bloomberg...

12-3-10 -- Metals fly in the face of downbeat data -- Listen
Friday downbeat jobs data yanked the dollar lower, sending gold prices sailing to $1,414/oz. and silver flying to $29.35/oz. As the unemployment rate rose to 9.8%, "Gold prices will likely continue to trend higher in 2011, supported by a fresh round of quantitative easing in the U.S., before peaking around $1,750 a troy ounce in 2012," according to Goldman Sachs, reports WSJ...

12-2-10 -- Gold crests $1,400/oz. on weaker buck -- Listen
Thursday the weaker U.S. dollar drew gold near the $1400 per ounce mark before late profit-taking pressure caused prices to back off, closing $1385 per ounce. Silver continues its strong run, ending the day at $28.55 per ounce. As global uncertainty increased, U.S. stocks capped their best two-day performance since July on upbeat retail and home sales data, indicating portions of the U.S. economy may be improving...

12-1-10 -- Paper money jig is ending -- Listen
Precious metals ended Wednesday mixed amid safe haven buying, limited profit taking and dollar weakness. Gold closed at $1,386/oz. and silver at $28.42/oz. "We'll all be surprised at what gold can do when the jig is up for paper money...We'll see days when gold is up $100, and then down $100. We should start thinking three digits in terms of intra-day moves on the gold price," said John Hathaway of Tocqueville Gold Fund to KingWorldNews...

Follow Us

Share Page

Weekly Charts

Current Spot Prices


Special Offers

© 2017 Swiss America Trading Corp. All Rights Reserved.   |   Privacy Policy   |   Site Map   |   Contact Us   |   Mobile Version
SWISS AMERICA and Block Logo are registered trademarks of Swiss America Trading Corp.
Where did you hear about us?
Pat BooneMichael Savage
OtherChristopher Greene (AMTV)