Monday, July 25, 2016
The Isle of Man, known among coin investors for producing Angel gold bullion coins and the annual series of cat coins, is to end its longstanding relationship with the Pobjoy Mint.
The private mint has produced the island’s coins for four decades but the long association will come to an end next year.
The Isle of Man was Pobjoy’s first and longest customer. The mint also makes coins for Ascension Island, the British Antarctic Territory, the British Indian Ocean Territory, the British Virgin Islands, the Falkland Islands and South Georgia and the South Sandwich Islands.
Its relationship with the Isle of Man to make its legal tender, circulating and collectible investment coins will come to an end on March 24 2017, the mint said in a statement. It did not explain why it will no longer be striking coins for the British Crown dependency.
Among the best known Isle of Man collectible gold bullion coins are the Angel coins, which are produced in one troy ounce versions, as well as the cat coins that change design each year. The island is known for its tailless cats and the mint has been making different editions of collectible cat coins on its behalf since 1988. The first Angel coins were issued in 1985.
Pobjoy wished the island well for its future coin production but said that there would be a smaller number of themes produced by the island in the future.
The mint’s Ron Curry told Coin World: “We don’t know why actually, but we do know they are cutting it back. They haven’t given us a reason.”
Monday, July 18, 2016
The gold price started the week lower but the precious metal is still holding its own as a safe haven in the economic uncertainty that’s continuing to affect the financial markets.
Since the start of the year, the yellow metal’s price per troy ounce has jumped by almost 30 per cent. This morning (Monday July 18), it stood at £1,001.14 per troy ounce at 08:30.
What was already a bear market for gold has been pushed higher by the confusion caused by Britain’s vote to leave the European Union at the end of June, and the shockwaves from that are unlikely to disappear any time soon. The weekend events in Turkey are also likely to send investors towards the safety that holding gold offers in comparison to more volatile investments.
David Beahm, from New Orleans-based investment company Blanchard and Co, told US Money News that gold is an important investment because it is not vulnerable to devaluation by central banks and is an insurance against falling equity values.
He said: “This paid off for gold investors after the 2008 global financial crisis.
“Blanchard clients are often looking for the return of their money, not the return on their money. Take the plethora of negative interest-rate bonds around the globe right now. Gold has the power to store and grow wealth.”
He points out the value of investing in gold bullion bars and coins, and the simple storage associated with this type of investment.
“Having physical possession of your asset and having a piece of mind that no one can get to it but you makes it worth the relatively small cost,” said Mr Beahm.
“Keeping gold in a home safe or in a safe deposit box is easy for most people.”
It’s always important to deal with a reputable, well-established company when investing in precious metals. The Gold Bullion Company has been operating in the world-famous gold quarter in Birmingham for more than 20 years.
Monday, July 11, 2016
Gold is the best investment in an increasingly uncertain world, according to the boss of US investment group DoubleLine Capital.
CEO Jeffrey Gundlach is advising investors to put their money into the precious metal following the British vote to leave the European Union in June and the turbulence that has been seen across world markets following the referendum.
He said that the instability caused by the Brexit vote along with fears about the policies of central banks and the possibility of a long stagnation in the global economy were good reasons to head for the safe haven of gold.
Mr Gundlach told CNBC: "Things are shaky and feeling dangerous. I am not selling gold."
Mr Gundlach, whose Los Angeles-based company manages more than $100 billion in assets, expounded his thoughts about further instability in the markets in an interview with Barrons.
He said: “We’ve been expecting a summer of volatility all year. One of the ingredients for that cocktail was that the Federal Reserve seemed to be on a death march to raising interest rates. Now, [Fed Chief] Janet Yellen has made it pretty darn clear she isn’t going to raise interest rates. That certainty of higher rates has been replaced by this economic and political uncertainty.”
In an uncertain world, savvy investors traditionally turn to gold as a safe place to keep their money. On top of the sustained rally already seen this year in the gold price per troy ounce, the Brexit vote has pushed its value higher.
There is also the uncertainty of the US presidential election later in the year which could have a similar effect on the markets. Nothing is certain in investments, but a lot of the signs are pointing towards gold holding its value well over the coming months in the face of global instability.
Monday, July 4, 2016
The aftershocks of the UK’s decision to vote to leave the European Union are still being felt and analysts expect the gold price to climb even higher as a result.
The uncertainty in the global economy caused by the Brexit vote has sent investors worldwide scurrying to the precious metal as a safe haven for their money.
A poll of Wall Street experts and traders carried out last week by Kitco found that more than seven out of 10 (73 per cent) believe the gold price will continue to increase this week. Last week, the gold price per troy ounce climbed by 3.72 per cent from £975.29 to £1,011.53.
Much of the flight to gold by investors is due to anxiety among about what central banks around the globe will do in reaction to the economic issues raised by the UK’s decision to quit the EU.
The US dollar was slightly down last week and the pound has fallen radically in the wake of the historic vote. Analysts in the US expect this will make the US Federal Reserve less likely to raise interest rates in the immediate future due to the ongoing concerns about the global economy. However, the US markets are awaiting a raft of economic data in the coming week with jobs and payroll figures due to be published.
The gold price forecast was increased by Societe Generale last week on the back of the ongoing turbulence.
In a note, it said: “Looking ahead, it seems that gold will remain one of the major beneficiaries in the current backdrop, as heightened volatility and lingering uncertainty will keep investors' risk appetite in check.”
Investors have also been putting their cash into silver, which has jumped in value to more than £14.30 for the first time since September 2014, Reuters reported.