Last Friday, March 2, at the Las Vegas Show gold had been trending towards a higher close but did not follow through. I thought it would rally on Monday but there was too much fear in the market over a Greek default and the markets collapsed.
Tuesday saw the market bottom searching and then Greek bondholders started falling in step with an approval to accept the swap.
On Tuesday a purported 40+ metric tons of physical gold changed hands in London and rumor has it heading East. The obvious result was precious metals moved higher Wednesday.
As I write this early Thursday they are very firm with gold well back over $1,700 and silver pushing over $34.
Platinum is also gaining but trailing on softer oil prices.
The Las Vegas Show was very successful with a good crowd for the entire event, even Sunday. It was one of the best attended Sundays I can remember. Interest was obvious in type set items, better date gold especially CC mint issues, Morgan dollars and scarce date issues across the board.
There has been a good deal of interest in silver dollars over the last few weeks with many dates showing increases especially in MS-60 better dates. This includes both the Morgan and Peace dollar issues. In fact the Peace dollar series is showing more life than I have noticed in over a year.
Proof and mint sets remain steady with continued positive trading.
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