Migration to Gold increases as Market uncertainty continues

Last Wednesday -- which was the worst day for both the dollar and US equities -- the average price of US Mint-manufactured gold rose to $1952/oz. That's about $130/oz higher than gold futures got that day.Meanwhile, Gold continues to break all-time records as uncertainty and lost of confidence hammer the U.S. dollar. There were times Gold was even at par or more with Platinum which were never seen before.Gold dealers on Ebay continue to profit from the market tremors brought by the sudden surge in the prices of precious metals especially with Gold. In demand right now are bullion coins most likely falling from .900 or of higher purity.Bangko...

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Gold soared to $1700 despite U.S. credit downdgrade

Gold soared to record highs above $1,700 an ounce on Monday as an unprecedented downgrade to the U.S. credit rating sent investors scrambling out of riskier assets, hammering equity markets and the dollar. Both U.S. gold futures and cash gold could rise further if pledges by the Group of Seven nations to support battered financial markets fail to bear fruit as investors turn their attention to the Federal Reserve's policy-setting committee, the FOMC, meeting on Tuesday. The one notch downgrade by Standard & Poor's of the U.S. long-term rating on Friday added to the threat of contagion from the euro debt crisis, fears over recession in the United States and even the possibility of a third round of U.S. quantitative easing. Spot gold touched a lifetime high around $1,714 an ounce, its 11th...

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BSP boasts notes new security features

In light of the issuance of the new peso bank notes, the Bangko Sentral ng Pilipinas (BSP) has called on the public to be aware of the security features added to the bills in order to easily detect counterfeits.Speaking at the sidelines of the launch of an anti-counterfeit campaign spearheaded by the BSP in partnership with IT firm Hewlett-Packard (HP), officials said that while the new bills are expensive and difficult to reproduce, the public can still be fooled if they do not know the security features of the new bank notes."The BSP has invested a lot of money and effort so our money can be secure from counterfeiters," said Fe dela Cruz, the BSP's director for corporate affairs."But if [the people] don't know how to identify counterfeits, then our investments are useless," she added.New...

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BSP presented Jose Rizal on Philippine Currencies Since 1903 to descendants

The Bangko Sentral ng Pilipinas (BSP) pays tribute to national hero Jose Rizal, whose 150th birth anniversary is on Sunday, June 19, through an exhibition of Philippine banknotes and coins. The exhibit “Rizal in Our Midst: A Homage to Greatness” showcases the different denominations ranging from five centavos to as high as 100 pesos since 1903 where the image of Rizal or his monument appears. Today, Rizal is on one-piso coins, making him accessible to most Filipinos. About five billion one-piso coins or 30 percent of total coins are in circulation today. On June 19, BSP will launch a commemorative medal bearing Rizal’s image, his signature and...

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