Daily Market Report 12/23/14

GOLD

As the U.S. Dollar rallied to an eight year high versus the Euro, Gold held firmly above the $1,175 per ounce level. Trading volume on the Gold exchanges around the world is lightening up as we approach the holidays. At 11am PST today, Gold is trading at $1,177 per ounce, up $2 for the day on average volume.

SILVER

Silver was unable to break above the key $16 per ounce support level today, but held firm above the $15.50 per ounce level. At 11am PST today, Silver is up $0.07 per ounce, trading at $15.75 per ounce on normal volume.

Collectible Coin Protection Act becomes a Law (12/23/2014 update)

The Gold and Silver Political Action Committee is very proud to say that H.R. 2754 Collectible Coin Protection Act was PASSED BY THE SENATE ON DECEMBER, 15, 2014 and SIGNED BY THE PRESIDENT OF THE UNITED STATES on Dec 18th.

The Collectible Coin Protection Act helps combat the counterfeiting of numismatic items and grading-service slabs. This newly enacted legislation will give more teeth to the existing law and have a significant positive impact within the rare coin and precious metal community.

Stopping Chinese Counterfeit coins is the No. 1 legislative priority of the Gold & Silver PAC. It is crucial that we stem the influx of very high quality counterfeits coins entering the US marketplace from China. Guided by Political Consultant Jimmy Hayes, it was decided that legislation would be the most effective remedy. This new law allows for both civil and criminal penalties against companies or individuals that import, distribute, or resell Counterfeit coins. The Collectible Coin Protection Act modifies the Hobby Protection Act to give law enforcement agencies the additional enforcement and deterrent powers they need to stop the inflow of all counterfeit coins.