Market Update (14th August 2014)

At the opening of the Asian markets on the 13th August, the gold price was hovering around the 1308 USD/oz mark, continuing the recent upward trend. Trading yesterday was on the quiet side, however, in the next few days we’ll see some serious news coming in, especially concerning the UK’s inflation report, the USA’s July sales report, the UK unemployment rate, and Japan’s second quarter GDP figures.

Now for a look at the recently released coins to the market. Despite the broad extent of the publicity and hype surrounding its release, the Bronze Age Implements 3rd Series has left individual investors still somewhat hesitant, with the exception of the period immediately after the series hit the market. Prices are not high, and those holding on to their coins waiting to see what happens are in the majority. However, this area of the coins market is still attracting a lot of attention, but there’s little actual movement, especially compared with yesterday.

Prices across all coin types of the 3rd Series are showing signs of falling. Even the 1 kg silver and 5 oz silver coins, considered to be the hottest of the series, are unable to buck the trend. The 1 kg silver coin is selling in the region of 12300-12600 yuan, and the 5 oz silver coins are going for between 4000-4350 yuan. The gold and silver sets are struggling to hold the 3000 yuan mark, with a few deals reached today in the region of 2800-2950 yuan. The 1 oz silver coin is valued between 380-400 yuan, and the 5 oz gold coin is sticking around 62000-63000 yuan. For the large specification coin types, there is a lot of demand pressure on the market with little supply. So these coins are available for purchase, but the quoted prices are high and no-one is paying them.