This article was originally printed in the latest issue of Numismatic News.
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Though buyers of gold American Eagles figure gold will continue to set new records, during the past week the precious yellow metal simply skittered along just below the $1,250 record set in the middle of May.
As Numismatic News was going to press the price of an ounce of gold closed at $1,220.60 June 2, just $7.30 above where it had been the week before.
Silver during the week actually showed a weekly gain of just 1.2 cents when it finished trading.
Reported new gold demand from the central bank of Iran had no immediate impact on gold. Iran indicated it was dumping the sagging euro to move about $45 billion of reserves into U.S. dollars and gold.
The euro continued weak but did not trade very far from the $1.22-$1.23 value of the prior week.
Panning for gold these days may be fun, but probably isn't the best way to rack up the profits.