Daily Market Report 11/18/13

GOLD

Gold rallied up to $1,289 per ounce this morning before selling appeared, driving the price down $15 per ounce. With U.S. equity markets setting records, the focus of investors is stocks, not precious metals. At 11am PDT today, Gold is trading at $1,274 per ounce, down $14 on average volume.

SILVER

Silver continues to show a lack of price strength in the world’s commodity markets. Silver traded in the $20.29 to $20.83 per ounce price range the entire day. At 11am PDT today, Silver is down $0.32, trading at $20.42 per ounce on light volume.

RARE COINS

Last weekend, November 15 - 16, Heritage Auction Galleries sold Part II of the Eric Newman rare coin collection. This part of the collection was primarily Silver U.S. rarities and sold for $23,377,620. Fifty rare coins sold for over $100,000 at the auction, which featured many well-known U.S. Silver rarities. Two of the finest known Silver rarities set all-time record highs. These were the 1796 Draped Bust Quarter, graded MS67+ by NGC, which sold for $1,527,620, and the 1795 Draped Bust Silver Dollar, graded MS66+ by NGC, which sold for $910,625. Last week, Christie’s Auction house sold $691 million worth of collectible art; a record high.