Gold & Silver Digest: 2/5/13

Adam Taggart
By Adam Taggart on Tue, Feb 5, 2013 - 7:18pm

The Gold & Silver Digest contains headlines of stories that members of this group deem relevant and/or interesting to precious metals enthusiasts.

If you have articles to submit for the next digest, please email them to me by clicking here.

2/5/13 5:43 PM EST US close metals price quotes from Finviz

Reuters: Gold lower as economy improves, platinum metals up

NEW YORK, Feb 5 (Reuters) - Gold fell on Tuesday, retreating from an initial rally, as solid gains in U.S. equities and an improving economic outlook weighed on the metal's safe-haven appeal.

Palladium and platinum rose on better demand expectations after data showed the U.S. services sector expanded in January, while European business optimism hit an eight-month high.

Wall Street Journal Video: Where Is Gold Heading in 2013?

There are several factors influencing gold prices this upcoming year. Hennion & Walsh Asset Management president Kevin Mahn joins Markets Hub.

Yahoo Finance: Don’t Sell Your Gold and Silver Coins: Jim Rogers

Gold and silver may be off their highs but that hasn’t hurt demand for gold and silver coins. Sales of silver eagle coins hit a new record last month and gold coin sales in January reached their highest level in almost 19 months.

"You can’t get [silver coins]. They sell out,” says legendary investor Jim Rogers. “Several mints have run out of coins…because everybody’s worried about the future of the world.”

Reuters: Hong Kong-to-China 2012 gold flow hits record high

SINGAPORE, Feb 5 (Reuters) - Hong Kong's net gold flow to mainland China jumped 47 percent in 2012 to a record high of 557.478 tonnes, indicating robust demand in China, which vies with India to be the world's top gold consumer.

Hong Kong shipped 114.372 tonnes of gold to China in December, also a record high for monthly exports. The former British colony received 19.644 tonnes of gold from the mainland in that month.

CNBC: Moment of Truth for Gold: Ilczyszyn

Gold consolidated towards the upper end of its range yesterday, after bouncing off of a trend line that starts with the Jan. 5 low.

With the current price action against $1,680, gold is now bracing against a resistance trend line from the late November highs.

MineWeb: Upside fundamentals for gold still intact

Major U.S. gold and gold coin dealer, Blanchard & Co. reckons that investors are yet again finding themselves entering a new year amid uncertainty, with the debt ceiling, taxes and government spending all playing a role in shaping the 2013 economy. Legislators walked the fiscal cliff tightrope until the 11th hour at the end of 2012, and something few expected happened in the financial market – gold declined in price.

The Hindu Business Line: ‘Risk involved in investing in gold has heightened’

The steep rise in gold prices over the past few years indicates that the risk involved in investment in gold has heightened, cautioned K. C. Chakrabarty, Deputy Governor, Reserve Bank of India.

This is a fact which is not recognised by people, he said at a Workshop on Financial Literacy.

Some basic concepts are not fully appreciated even by seemingly literate groups, resulting in assumption of excessive risks.

Business Insider: Bacteria Is Turning Toxic Gold Flakes Into Little Gold Nuggets

Among the more peculiar organisms that inhabit our Earth exists a bacterium that turns water-soluble gold into microscopic nuggets of solid gold, scientists said Sunday.

Chemists have often pondered why the germ Delftia acidovorans is frequently found on the surface of tiny gold nuggets.

Resource Investor: Silver bullion and Gresham's Law going East

Silver is not going away. Its ongoing popularity seems to fly in the face of the modernist, the Keynesian and the visionary who dreams of a world without physical currency or money at all. Despite their viewpoints, silver and other precious metals remain sought after and valued by many investors.

Humans in developed countries often seem obsessed with technology and modernity, but they still sit in chairs, read with their eyes, and repeat the same behaviors over and over again.

Silver Investing News: CPM Group: Lower Prices and the Potential Bull Trap

CPM Group has made some assessments about the silver market that many investors will not like. The firm recently updated its Silver Long-Term Outlook, which gazes out to 2022, presenting an argument for weaker silver prices over that period. The firm also released a report that suggests many investors may currently be at risk of getting caught in a bull trap.

Silver has been trending lower since April 2011, when “hype” pushed prices to $49, according to CPM Group. Prices plunged the following month and have traded between $26 and $36 since September 2011.

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