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 Thursday, January 03, 2008
Gold Climbs Higher
Posted by tom
 Gold Continues it's Run
After brief profit taking, Gold continued it's climb today, cracking the $865 barrier before slipping back to $862 as of this posting. Silver was pulled along too and sits at $15.36 as of this afternoon.
Crude oil
remains within sight of $100 a barrel and the dollar is floundering against most all other major currencies.
With it's new record price, it will be interesting to see what gold does next. Some are predicting an almost certain downturn in gold, similar to what the precious metals market experienced after the surge of 1980. Given that much of this current drive is based on speculative investment, I find myself thinking the same way. Without exceptionally strong demand from the jewelry trade and industrial sector, the only support gold has comes from the hopes of it's proponents. As of this moment however, those hopes are very strong and reflect a definitive lack of confidence in the U.S. dollar, and the U.S. economy.
News You Can Use
1/3/2008 3:36:24 PM (Eastern Standard Time, UTC-05:00) 
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Wednesday, January 02, 2008
Huge Day for Gold
Posted by tom
Gold Shoots to $860
Gold has been riding high around the Holidays this year. Spot price has been on the rise for a couple of weeks, but this morning it shot through it's former roof to hit a mid-day high of $861 before settling back down to about $855 at the time of this posting.
Keep in mind that this slight dip is only due to profit taking. I would expect the drive to continue through the afternoon and would not be shocked if Gold touched $875 later in the day or tomorrow. Fueling this push is an ever weakening dollar and worries about the U.S. economy.
Long term expectations for gold, forcast in the first few weeks of December, were looking for a downturn into the New Year, however, so exercise caution. This drive will surely be followed by a stiff correction in the coming weeks or months. Volitility is to be expected.
Also along for the ride is silver, which again surpassed $15 and crude oil which hit $100 a barrel again today. Platinum and palladium both pushed ahead reaching over $1550 and $370 an ounce respectively.
News You Can Use
1/2/2008 2:51:47 PM (Eastern Standard Time, UTC-05:00)
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Monday, December 31, 2007
Year of the Dog
Posted by tom
Tom's Recommended Film of the Week
Year of the Dog
If you hadn't guessed by now, I like movies that are a little off the beaten track. This weeks film, written and directed by Mike White and starring Molly Shannon makes a path all it's own.
Year of the Dog
is a film, which avoids casual attachment to any specific genre. Some might call it a slice of life film, but because of its unusual perspective and unique attitudes I don't think it really fits there. It has comedy, especially from Josh Pais, John C. Reilly and Regina King, but also displays themes of isolation and independence. Simple in it's approach, but complex in personal interactions, Year of the Dog can leave you thinking long after the film is over. Some the ironies are obvious as you watch Laura Dern and Thomas McCarthy revel in their self-absorption, or Peter Sarsgaard drape himself in righteousness. Other notions will only occur to you later, when life’s little idiosyncrasies remind you of the main characters troubles in this film.
Mike White has a good reputation for noticing life’s imbalances and bringing them into his writing. Now we learn that he can also get the nuances down on screen through excellent casting and good direction. Year of the Dog isn't a big blockbuster, don't pick it up expecting action or adventure, but if you like quirky little films, like I do, give it a try.
Tom's Recommended Film of the Week
12/31/2007 5:19:03 PM (Eastern Standard Time, UTC-05:00)
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Friday, December 28, 2007
Friday Fix
Posted by tom
 Friday Fix
London pm fixes for 12-28-07
Gold $833.75
Silver $14.75
Platinum $1530.00
Palladium $364.00
Friday Fix
12/28/2007 10:10:06 PM (Eastern Standard Time, UTC-05:00)
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Friday, December 21, 2007
Friday Fix
Posted by tom
Friday Fix
London pm fixes for 12-21-07
Gold $810.50
Silver $14.28
Platinum $1516.00
Palladium $355.00
Friday Fix
12/21/2007 1:37:31 AM (Eastern Standard Time, UTC-05:00)
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Thursday, December 20, 2007
Christmas on Film
Posted by tom
Tom's Recommended Film's of the Week
Seeing as how it will be Christmas in just a few days I decided to devote this weeks film recommendation to a short list of some of my favorite Christmas films. Some are recent works, some go back a ways, most are wacky, though all have that genuine feeling of the joy and love that embodies our cultural celebration of Christmas. Their central themes are, rightfully, about forgiveness, redemption and second chances.
Along with each film name, I'll give a very brief comment to give you an idea of why I like this particular entry.
Hope you enjoy this little venture, and please feel free to jump in and comment with your own choices for favorite Holiday classics!
Elf
- If you are still a kid at heart and you have a son under the age of 12 to watch this with, don't hesitate. Everyone needs to know the four main food groups according to Elf's.
A Christmas Story
- Everyone had a year like this, once upon a time. Everyone see's something in this movie which reminds them of their childhood in one way or another.
It's a Wonderful Life
- Who doesn't cry at the end of this film? Who hasn't desired this level of warmth and support of friends and family?
Miracle on 34th Street
- I just love the U.S. Postal System!
The Muppet Christmas Carol
- Though I don't like all the Muppet films, I do have a fondness for this one. This is my favorite version of this Dickens classic. Gonzo and Michael Caine are great!
Scrooged
- The whole cast is a delight in this film. It's like a circus, with Bill Murray as the Ring Master. This is my second favorite version of Dickens most loved Christmas tale.
Surviving Christmas
- Not the most loved Christmas film, but I did enjoy this quirky little gem. Not really for the children though.
Home Alone
- I can't count how many times I have watched this film with one or more of my children. When I tried to explain that all these painful looking tricks were really not hurting these people, as it was film illusion, my little five year old (now 19!) told me, "of course! It's just like a cartoon Dad!"
Trapped in Paradise
- Don't recall if this one actually takes place at Christmas, but it does embody the Christmas film spirit!
Jingle all the Way
- Blown way out of purportion? Maybe, but at some time or another everyone has struggled to find the popular toy for a special child. Phil Hartman is great and Arnold Schwarzenegger hangs on for dear life!
Tom's Recommended Film of the Week
12/20/2007 9:59:38 AM (Eastern Standard Time, UTC-05:00)
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Tuesday, December 18, 2007
Platinum Breaks Free!
Posted by tom
Platinum Rising - New Platinum Products Expand Choices
Short supply and heavy demand from both industry and investment circles have driven spot Platinum above the $1500 mark this morning. This is record territory for Platinum, which invites a strong investment interest. With gold ebbing and flowing between $785 and $815, Platinum must present a more vibrant opportunity to many impatient minds.
For numismatists seeking Platinum, there is the option of the new 10th Anniversary Platinum Eagle sets, which carry an excellent design and offer good tradability. A recent release of the US Mint these special Platinum Eagles are being currently sold at just about 30% over melt. At this price they may benefit from the timing of the current market drive, as small investors may find them a feasible option, while numismatists with the budget may want to obtain this special set for their collection. Of course, the normal proof and uncirculated Platinum Eagles are also available in one ounce and all the logical fractions.
Also new are the 2007 Platinum Britannia coins from the British Royal  Mint. These have been struck in 25 and 10-pound versions for mass sale, but there was also a scarce four-piece set issued with two larger coins denominated 100 and 50 pounds. This set was limited to a mintage of 250 and I think it must have sold out already. The Brits are also issuing an Emblems of Britain set of Platinum coins for 2008. Here too the mintage will be tight at 250 sets, with seven old-style circulating coins struck in Platinum to celebrate the 40 years of service from these designs. In late spring 2008 the Royal Mint will issue newly redesigned circulating coins for Great Britain, so this Platinum set is being pitched as the "last of the old". The price for this set is about 5000 pounds. Similar collector sets are also being issued in gold, silver and the circulating base metals.
News You Can Use
12/18/2007 11:12:48 AM (Eastern Standard Time, UTC-05:00)
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Monday, December 17, 2007
Ireland, Great Britain & South Africa Closing Today
Posted by tom
 Irish Proofs at Dix Noonan Webb Sale
Today is the closing of Dix Noonan Webb auction 76, which offers a nice selection of British, Irish and South Africa coins, along with various world coinage including German East Africa, India and some fine Medeival coins.
Of special interest are the short proof sets from Ireland. The first is lot 221, comprised of the threepence, penny halfpenny and farthing struck in proof, dated 1949. The second is a 1950 dated group including the sixpence, threepence and penny, also struck in proof. estimates for the two groups of coins are in the 5,000 to 6,000 pound range.
Irish proof strikes of the circulation types from these dates are quite rare and I was most interested to see what the drop of the hammer revealed for these brilliant beauties. Unfortunely both lots went unsold according to the prices realized list posted this morning. I wonder if there was a specific problem, or if they just failed to reach a reasonable reserve based on their lofty estimates?
Auction Lot of the Week
12/17/2007 1:45:01 PM (Eastern Standard Time, UTC-05:00)
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Hong Kong Proof Discovery
Posted by tom
Unique 1868 Proof Set Sells through Spink's
In their September 27th auction Spink's offered a unique Hong Kong proof set from 1868. A discovery in set form, the lovely shaped case included the silver 5, 10, 20 cents, a Half Dollar, plus the Dollar all proof, all dated 1868.
Prior to this set surfacing, there had been no record of 5 or 10 cent  silver proofs for this date. These two pieces are the greatest excitement of this set! The 20 cent had been reported by Pridmore years ago, but I had never seen one for sale in the market, so this too is a real treat. The May 1995 Irving Goodman sale, which I recommend obtaining as a reference for Chinese and Hong Kong coinage, contained a choice proof 1868 Half Dollar, which sold for $109,250. The Dollar had been listed in the Standard Catalog of World Coins for many years, though I had never observed one for sale in the market.
After some hearty bidding, which drove these coins up well over thier pre-sale estimate range, the set (lot 236) finally closed for $183,897.
Auction Lot of the Week
12/17/2007 12:38:56 PM (Eastern Standard Time, UTC-05:00)
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Friday, December 14, 2007
Friday Fix
Posted by tom
Friday Fix
London pm fixes for 12-14-07
Gold $789.50
Silver $14.01
Platinum $1462.00
Palladium $346.00
Friday Fix
12/14/2007 3:24:55 PM (Eastern Standard Time, UTC-05:00)
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Thursday, December 13, 2007
The Painted Veil
Posted by tom
Tom's Recommended Film of the Week
The Painted Veil
1920's China was a diverse crosscut of cultures, customs and power struggles. There were Warlords ruling areas of territory, European government and business interests occupying portions of the cities and ports and disillusioned Chinese masses stirring to take back control of their homeland. China had gone from a country ruled by Dynasty, to a modern Republic under Sun Yat-sen, to an Empire run by Yuan Shikai, before it fell into complete turmoil between the democratic advances of Chiang Kai-shek and the tilt towards communist rule.
Onto this backdrop, British novelist W. Somerset Maugham developed a story fraught with human emotion, betrayal, cowardice, vengeance and eventual maturity. The Painted Veil brings a modern age of bacteriology, medicine and high society out of Britain to Shanghai and on to the framework of a small Chinese village suffering from a severe Cholera epidemic and sets it's main characters on a tense and troubled journey towards clarity.
Strong performances by Naomi Watts and Edward Norton raise this film a bit above the norm for a period piece, while the setting and background stories keep those interested in the world, interested in this movie.
Tom's Recommended Film of the Week
12/13/2007 4:55:42 PM (Eastern Standard Time, UTC-05:00)
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Friday, December 07, 2007
Solid Future Seen for Silver
Posted by tom
Silver Holding Nicely
Through all the hubbub and attention the media has been paying to the spot price movements of Gold, the less valuable precious metal, Silver has been holding it's own very nicely. Silver has stayed above $14 pretty well since late October.
Future visions of silver's outlook are being raised by analysts. The long term prospects for silver are that it will hold at the $14 to $15 level, even with increased production. Demand is expected to outstrip supply over the next three years.
This is the kind of stability long term investors look for in an inflation hedge vehicle. The single largest factor in the accuracy of these optimistic forecasts and in silvers subsequent ability to remain at these levels, would be the continued weakness of the U.S. dollar.
News You Can Use
12/7/2007 12:22:34 PM (Eastern Standard Time, UTC-05:00)
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