Precious metals are choppy. Gold is down less than 1 percent and silver and platinum are down 3-4 percent. Platinum followed lower oil pricing based on weak economic reports. Silver is affected by an especially strong U.S. dollar. The euro has gone in the tank because of the Greek debt crisis.
While I don’t like to mention any companies by name I will make an exception because many of us use its timely metals information. Kitco.com has been involved in some controversy of late in regard to sales tax issues with an arm of the Canadian government. Rumors have been rampant among blogs and sites of jealous competing entities. Based on
what I have read and the sources, I am of the opinion that this is probably another one of those cases where the long arm of government is reaching out to discourage safe haven investments. The available information and my gut tell me this is an unfair attack and for the record I have never done a dime’s worth of business with them.
This week’s dollar charts may seem a little high on circulated generic issues with silver under pressure. I observed dealer offers of about 10 bags in various grades/categories at lower levels so I intended to reduce prices, but later I received a new major want list with prices 5 percent higher, so prices are stable.