Gold and silver futures were sharply down the U.S. trading session Monday while President Joe Biden confirmed Federal Reserve Chairman Jerome Powell for his second term. The precious metals prices were under a huge pressure and selling pressure accelerated overnight.
December gold was last down nearly USD 41.10 at USD 1,810.4 and December Comex Silver was last down USD 0.421 at USD 24.36 per ounce.
Someone argued that another term for Powell was just an excuse for bullions future traders taking profits after recent good price gains. Some analysts believe bullion markets are likely to continue to be supported by the inflation trade and to be sought out as a hedge against rising and even problematic price inflation.
Starry Night which painted by the Dutch post-impressionist Vincent Van Gogh in June 1889 is one of the most famous masterpieces in the art world. The images of the painting are always printed on souvenir everywhere, like coffee cups, mugs, T-shirts, towels, etc.
This painting – Starry Night was painted in 1889 when the artist, Vincent Can Gogh stayed at the asylum of Saint-Paul-de-Mausole. He painted the view from the east-facing window of his asylum room with an imaginary village just before sunrise.
This painting has been in the permanent collection of the Museum of Modern Art in New York City since 1941.
This time, the one of the most recognized painting in Western art – Starry Night was printed on a silver coin and issued by Republique du Tchad. The coin depicted the detailed texture and its typical swirling brushstrokes, the moon and morning stars. The details of the pattern were presented on the coin beautifully. Starry Night fans absolutely won’t miss this collection. Let get this magnificent piece of numismatic coin on your working desk or your showcase in your living room.
Gold price is getting back above USD 1,800 per troy ounce. Investors expect it will continue to move higher because it is unlikely the Federal Reserve will be able to fet the inflation under control.
The growth thread of inflation and stagflation are pushing more investors reevaluate their safe-haven hedge and rearrange their investment profolio.
The inflation the year is very different from the last few years. The current inflation is not being driven by consumer demand. Prices go up because of major supply-chain around the world especially the second largest economy, China.
There is nothing the Federal Reserve can do to fix the supply chain as the inflation is on the long side of the track. With gold prices back over USD 1,800 per troy ounce, the market will see bullish momentum very soon.
After the compelling Queen Beasts’s collection, Royal Mint just launched a new series of collection – The Tudor Beasts Collections. The Seymour Panther will be the first coin of this series. Tudor Beasts Collection will absolutely become one of the hot collections amoung numismatics community.
Important News: Queen Elizabeth was seen using walking stick for what is believe to be the first time at a major public event. It will probably trigger Royal Fans worried about the Monarch’s Health.
What are these Tudor Beasts?
The Seymour Panther
The Lion of England
The Greyhound of Richmond
The Yale of Beaufort
The Tudor Dragon
The Seymour Unicorn
The Royal DragonThe Queen’s Lion
The Black Bull of Clarence
The Queen’s Panther
The Tudor dynasty rose from the wars of the Roses conquest between the House of Lancaster and the House of York. When Henry VIII ruled after his Henry VII, He took these heraldic beasts as part of his lavish embellishment of the palace. These Tudor Beasts served to reinforce the legitimacy of his position on the throne and to highlight the regal lineage and strength of the Tudor dynasty.
If you have missed the Queen’s Beasts collection, do not miss the Tudor Beasts this time!
Next post, I will share the fun facts about Henry VIII. Stay tuned.
The American Eagle Gold Coin is an officeal gold bullion coins of United States starting from 1986. It was produced by United States Mint. The composition of the gold coins included 91.67% gold, 3% silver and 5.33% Copper. Therefore, the fineness of this gold coin is just 22K.
The obverse of the gold coin depicts the figure of Lady Liberty. And the reverse design features a male eagle carrying an olive branch flying above a female eagle and her baby.
Let me tell you something special about American Eagle Gold Coins.
For the Eagle minted in 1986-1991, they are dated with Roman Numerals. And starting from 1992, US mint changed to use Arabic numerals for dating Gold American Eagle Coins.
Here is the gold coin in 1990 with dated with Roman Numerals “MCMXC”.
And starting mid 2021, the reserve design of American Eagle Gold Coin changes again! It features a side profile of a Bald ealge.
The new design is stunning!
As the the new design is launching in mid of 2021, the collectors around the world will definitely collect the old designs of American Eagle Gold Coins especially the old design dated year 2021 and the those dated with Roman Numerals.
Senate Democats just passed a USD 3.5 trillion plan early Wednesday. The bill will spend on the establishment of a Civilian Climate Corps, adds new dental, cision and hearing benefits to medicare coverage and investment in affordable housing.
Even though the GOP (Republican National Committee) voted against, the bill has passed without a Republican vote. Biden Adminstration previously said the US government will have tax increases on corporations and wealthy individuals to pay for the USD 3.5 trilliion plan.
There are many conerens about the 3.5 trillion plan will cause inflation. President Joe Biden hit back against information concern on Wednesday and would like to downplayed concerns about price hikes. and cited that his plans for the American economy are working. The President Joe Biden said that the consumner price inflation slowed in July. But his adminstration will also outline a number of resolutions to lower the consumer costs.
However, there is one more concern about his 3.5 trillion plan. There is no one can gurantee the US government will have substantial tax incomes from coporations and wealthy people to cover this plan. Tax incomes may get affected by the pandemic.
I have received a very interesting coin recenetly. It is a coin in a horseshoe shape.
Some people may see western people hang horseshoes over their doors of the buildings. Someone like me would like to ask the reason behind this little thing. Why horseshoes?
Let me share you a story about hanging horseshoes over the doors.
This story is about a hermit – St. Dunstan.
St. Dunstan was a very quite and humble hermit as well as skilled metalworker. He lived in a hut where near the church of St Mary.
One night, there was a Devil came to his hut as a woman. However, St. Dunstan vigilantly noticed that he was a Devil instead of a woman. He saw his cloven hooves beneath the dress he wore. Dunstan noticed that the Devil was limping on one of his cloven hooves. He pretended to offer a shoe to help the Devil. He then nailed a red hot horseshoe onto the Devil hoof.
The Devil screamed and begged St. Dunstan to take it off. Of course St. Dunstan was not going to do it easily.
He said, “You have to make a promise that you will always respect the symbol of the horseshoe and never enter a building that is protected by the sign of a horseshoe.”
Nowsdays, people are still telling about this story to Children in England. And hanging horseshoes over their doors have become one of their tradional. Also, people have different preference about hanging heel up or Down.
Some says that if you hang the horseshoe like a shape of a cup, it means horseshoe fills with good luck, holding it for everyone who lives in that house.
Some says that if you hang the horseshoe downward, it means good luck flows out from the horseshoe and onto all the visitors and family who come into that house.
Up or down? Which one do you prefer? Let me know your thought.
Running a business is a chanllenge particularly during pandemic. Business environment changes, Business model changes, and customers practices chagnes. And companies have to be more innovative and creative to survive than before.
“Your competitors are doing great discount on products prices. Do we need to follow them?” I ask my boss and show him the advestiment on the social media.
“The company’s best advantage should be a qulity product offered at the right price.” He answers with a smile.
“But they are drawing attention now.” I said. I do not have any ideas about price competition and how the business works. Maybe it is the reason why I am an employee not an entrepreneur.
“If we let low-price competition continue to disturb the market order without containment, it will have an adverse effect on, and cause disorder to, the profession in the long run.” He explains.
“So, should we just…ignore them?” I confuse.
“If you have a successful company, you will get your market share. We don’t have a monopoly. We have market share.” He seems like care nothing about it and then sips his morning coffee as usual.
I look at him and wonder. Will I be a successful entrepreneur one day?
The change of design for American Eagle gold coin triggers me to study the history or development of the American gold coins. And there is a fascinated story about the Amercian gold coins development in 1933 – The most famous gold coin – The 1933 Double Eagle Gold Coin.
I believe that most people will remember that in 1930s, US was in the bank crisis. In 1933, in order to end the 1930s general bank crisis, US president Franklin D. Roosevelt issued an important executive order – Executive Order 6102.
This Executive order 6102 was about:
All persons are required to deliver all gold coins and all gold bullion products which owned by them to Federal Reserve Bank.
The 1933 Double Eagle: America’s last gold coin struck for circulation and the last gold coin that can be legally owned by an individual.
However, a number of 1933 Double Eagle Gold Coins were stolen or rescured before melting and those stolen coins found their way into the hands of collectors before later being recovered. Some of the 1933 Double Eagle Gold Coins were acquired by King Farouk of Egypt who was a professional collector of many things.
In 2002, one of the 1933 Double eagle was sold to an anonymous bidder at a Stacks Bowers action in New York for USD 6.6 million.
In 2021, the coins was sold for more than USD 18 million.
If one day, you discover this 1933 Double Eagle Gold Coin, remember its story behind this gold coin.
Tecent stock fell over 10% in Hong Kong stock market on Tuesday after Economic Information Daily – a business newspaper owned by Xinhua News Agency published an article about online game.
The article used the terms of “spiritual opium” and “electronic drug” to describe the harmful effects of oline gaming on children and teenagers. The analysis also pointed out that industries insiders and leaders should be vigilant about the harm of online games in young people and children.
Actually there was a massive sell-off for Tecent few days ago. This analysis of online games just a week after a big slumps of Chinese tech stocks. Last week, Tecent temporarily suspended new user registration for its WeChat messaging platform because of secutiy systems udpates. Investors believe its updates is due to compliance and regulation issues from Chinese government.
The recent incidents about Tecent also proof that Chinese tech giants have to keep a good relationship with Chinese Governemnt. And they have to fulfill more social responsibility when doing business in China.