Gold & Silver Digest: 6/20/13

Adam Taggart
By Adam Taggart on Thu, Jun 20, 2013 - 8:52pm

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.

6/20/13 8:40 PM EST US close metals price quotes from Finviz

CNN Money: Gold plunges to 2-1/2 year low post Bernanke

Gold prices were hit hard in the global market rout that followed Ben Bernanke's latest press conference.

Gold futures fell 6.4% to settle at $1,285.9 an ounce -- its lowest level since September 2010.

The drop extended an ongoing sell-off in the precious metal as investors prepare for an end of the Federal Reserve's stimulus policies, which Bernanke said could begin later this year and culminate in 2014.

Forbes: Gold's Price Drop Creates Some Demand But Not Like April

Gold’s Price Drop Creates Some Demand But Not Like April

Gold prices dropping to its lowest point in 2 1/2 years is once again creating renewed demand for physical gold; however, it is not to the same degree dealers saw in April.

Patrick Heller, owner and CEO of Liberty Coin Service, said he saw a rush Thursday morning when the office first opened but the flow of customers has slowed down a little heading into the afternoon.

Chigaco Tribune: CME to raise margins on gold, platinum futures

The CME Group is raising initial margins for Comex gold and NYMEX platinum futures, effective after the close of business Friday.

The parent of the Chicago Board of Trade is raising Comex 100 Gold Futures (GC) initial margins for speculators by 25 percent, to $8,800 per contract from $7,040. Platinum futures NYMEX (PL) initial margins for speculators will rise 12.5 percent, to $3,465 per contract from $3,080.

MarketWatch: Gold bloodbath takes mining sector names to 52-week lows

Gold’s bloodbath Thursday is hitting the mining sector particularly hard as lots of stocks in the sector are putting in  fresh 52-week lows.

Among the many names taking it on the chin are Agnico Eagle AEM , Yamana Gold AUY , Barrick Gold ABX , and Goldcorp. GG .

Here’s a screen of some of the many issues hitting 52-week lows.

GoldSilver.com: Marc Faber - Personally Buying Physical Gold Here

GoldSilver.com: Schiff - 'Vicious' Gold Rally Is Coming

Peter Schiff of Euro Pacific Capital argues that the Fed won't be able to taper quantitative easing -- actually, they'll have to increase it. He expects that will cause a "vicious" rally in gold.

Alt Investors Hangout: Alasdair Macleod- The Silver Meltdown Continues

(1) His initial thoughts on gold + silver's latest meltdown

(2) How the Fed may buy $115-120 worth of bonds in the near future!

Scientific American: Silver Makes Antibiotics Thousands of Times More Effective

Like werewolves and vampires, bacteria have a weakness: silver. The precious metal has been used to fight infection for thousands of years — Hippocrates first described its antimicrobial properties in 400 bc — but how it works has been a mystery. Now, a team led by James Collins, a biomedical engineer at Boston University in Massachusetts, has described how silver can disrupt bacteria, and shown that the ancient treatment could help to deal with the thoroughly modern scourge of antibiotic resistance. The work is published today in Science Translational Medicine.

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