CURRENT MARKET PRICE FOR GOLD : 18 K GOLD CHARMS
Current Market Price For Gold
- market value: the price at which buyers and sellers trade the item in an open marketplace
- Market price is the economic price for which a good or service is offered in the marketplace. It is of interest mainly in the study of microeconomics. Market value and market price are equal only under conditions of market efficiency, equilibrium, and rational expectations.
- The price of a commodity when sold in a given market
- The price at which a product, financial instrument, service or other tradable item can be bought and sold at an open market; the going price; On restaurant menus, used to mean the price charged depends on the price of supplies, which may vary
- Belonging to the present time; happening or being used or done now
- In common or general use
- occurring in or belonging to the present time; “current events”; “the current topic”; “current negotiations”; “current psychoanalytic theories”; “the ship’s current position”
- a steady flow of a fluid (usually from natural causes); “the raft floated downstream on the current”; “he felt a stream of air”; “the hose ejected a stream of water”
- a flow of electricity through a conductor; “the current was measured in amperes”
- A deep lustrous yellow or yellow-brown color
- An alloy of this
- amber: a deep yellow color; “an amber light illuminated the room”; “he admired the gold of her hair”
- A yellow precious metal, the chemical element of atomic number 79, valued esp. for use in jewelry and decoration, and to guarantee the value of currencies
- coins made of gold
- made from or covered with gold; “gold coins”; “the gold dome of the Capitol”; “the golden calf”; “gilded icons”
current market price for gold – Elliott Wave
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2012 VOTE LIKE YOUR LIFE DEPENDS ON IT ..BECAUSE IT DOES
America’s Accelerating Downward Spiral
By Peter Ferrara on 3.23.11 @ 6:09AM
For two years now, I have been arguing in this column and elsewhere that President Obama’s economic policies were a throwback to the 1970s, and so were going to produce the same result as the 1970s — the worsening cycles of inflation and recession known as stagflation. With last week’s reports regarding the Producer Price Index and the Consumer Price Index, those results are now here.
But these developments are just several further spins in an accelerating downward spiral for America that leaves our traditional prosperity, high standard of living, and national security extremely vulnerable to three looming disasters, at least two of which are likely to happen within the reasonably near future.
The Inflation Trap
The Producer Price Index rose 1.6% in February, an annual pace of nearly 20%. Over the last 5 months, the index has increased by nearly 5%, an annual pace of over 10%. The index for food increased by nearly 4% in February alone, the largest one month rise since November, 1974. As of February, the Producer Price Index for intermediate goods had increased by 7.8% over the prior 12 months.
This trend is now beginning to show up in the Consumer Price Index as well. The CPI increased by 0.5% in February, an annual pace of over 6% compounded. Over the last 3 months, the CPI has increased by 1.3%, an annual pace of 5.3%. The energy price index rose 3.4% in February alone, and nearly 10% over the last 3 months. The CPI is arguably understating inflation today because 40% of it is now represented by housing, which is still in a recession.
This follows a long-term trend that has been flashing red for inflation for quite some time now. First gold started to rise, eventually to record highs. Then the dollar started to fall, now near record lows. Then commodity prices started to soar, with oil now zooming over $100 a barrel.
Under supply-side economics, the Fed is supposed to tighten monetary policy when these inflation sensitive market prices first start to accelerate. Once the CPI starts spiking at 5-7%, the necessary tightening to stop it will cause sharply rising interest rates, and recession a year or so later. But if the Fed doesn’t reverse course, and continues printing money excessively, inflation will just continue to accelerate. To stop the 1970s double-digit inflation, the Fed finally had to impose double-digit interest rates for over a year, which caused the sharp 1982 recession.
In the past four decades in the U.S., every substantial increase in the real price of oil (meaning in excess of general inflation) has been followed within a couple of years by a sharp rise in unemployment. So with oil now surging past $100 a barrel, what does that suggest about unemployment over the next two years? And what does it say about President Obama’s economic IQ that the goal of his energy policy has been precisely to raise the price of oil, through cap and trade and restrictions on supply? The man can be well-spoken, as President Obama undoubtedly is, and still not have the slightest idea what he is talking about.
America’s accelerating downward spiral advanced on Friday when CBO released a report on President Obama’s exploding deficits and debt. Last month, President Obama’s own budget admitted that he will more than double the national debt in just one term of office, with an admitted budget deficit this year of $1.645 trillion, the highest anywhere in world history by several times over. Friday’s CBO report concluded that federal deficits over the next 10 years under President Obama’s budget would soar by nearly a third more than he estimated, totaling nearly $10 trillion over those 10 years, which would nearly double the national debt again to $21 trillion by 2021.
The Fed’s policy today is known as QE2, meaning the second round of "quantitative easing" (printing money) under the Obama Administration. That basically involves using the printed money to buy 70% of the Federal bonds issued to finance the deficit, a classic prescription for inflation. This Fed policy, continued from QE1, is the only reason that interest rates have remained so low in the face of the unprecedented trillions in federal deficits.
QE2 is scheduled to continue through June, at which time most commentators expect the Fed to end this reckless policy. But if the Fed suddenly stops this "quantitative easing," who is going to step in to buy the bonds to finance the 70% of the remaining federal deficit of $1.645 trillion for this fiscal year, and the $1.4 trillion deficit the CBO projects for the next fiscal year? Finding real buyers for those bonds is going to require paying soaring interest rates on them, which will only further increase the deficit. And that will cause soaring interest rates across the credit markets as well.
And that will mean another recession about a year later. Which would be in the middle of 20
This elegant commercial building, constructed in 1904-05 for the Gorham Manufacturing Company, contained its wholesale and retail showrooms, offices, and workshops. Designed by Stanford White of the prominent architectural firm of McKim, Mead & White, the eight-story building is an adaptation of an early Florentine Renaissance style palazzo incorporating a two-story arcade, a four-story mid-section, and a two-story loggia. Crowned by an impressive copper cornice that projects eight feet from the building, it also features bronze friezes and balconies, designed by White and crafted by the Gorham company, and bas-relief sculpture by Andrew O’Connor.
The Gorham Building, one of the early commercial palaces built on Fifth Avenue, north of 34th Street, early in the twentieth century, was widely praised for the beauty and artistry of its design. In 1923 the building was sold to Russeks, a women’s apparel store, which occupied it until 1949.
Since 1960, the building has been occupied by both retail and office tenants. Despite changes to the Fifth Avenue storefronts, the building remains a striking reminder of the role of Fifth Avenue as an elegant shopping street in the early years of the twentieth century.
DESCRIPTION AND ANALYSIS
The History of the Gorham Manufacturing Company’
The Gorham Manufacturing Company was based in Providence, Rhode Island. Rhode Island had been a center for silver manufacture since the late seventeenth century, primarily in Newport, and then in Providence during the late eighteenth century. Jabez Gorham, the founder of the Gorham Manufacturing Company, apprenticed in 1806 at the age of fourteen to the gold and silversmith and jeweler, Nehemiah Dodge, in Providence.
After his apprenticeship, he and four other men created a firm that manufactured gold jewelry. After 1818, Gorham made jewelry on his own, selling wares in his shop and to peddlers, who traveled throughout New England. He also traveled widely selling his own wares in Boston and New York.
In 1831, he opened a workshop manufacturing silver in Providence with Henry Webster, forming the firm Gorham & Webster which created silver spoons, forks, thimbles, and other small goods. William Price joined the firm in 1837, renamed Gorham, Webster & Price, until Jabez’s son, John, became partner and the firm became known as Jabez Gorham & Son. Jabez Gorham retired in 1847, but the company continued under his name.
In 1865, the Gorham Manufacturing Company was incorporated with John Gorham as president. Under his leadership the company expanded its production to include sterling and electroplated wares, ecclesiastical goods, and bronzes. These were marketed "through trade catalogues, retail and wholesale showrooms . . . and exclusive retail distributors nationwide. "
The work of the Gorham Manufacturing Company was given the highest award at the Exposition Universelle of 1889 in Paris, and the company was characterized as "the foremost silversmiths in the world, famous for original, artistic designs and finest workmanship."
In 1859, the company opened a wholesale showroom in Manhattan on Maiden Lane. Following retail trends after the Civil War, the company moved northward to Bond Street and again to Union Square at the southern end of the fashionable Ladies Mile shopping area. In 1884, it moved again into the Queen Anne style building on Broadway and East 19th Street, which it had commissioned from architect Edward H. Kendall. It occupied the two lower stories as showrooms, while bachelor flats were at the upper stories. (This building is a designated New York City Landmark.)
The Gorham Building
By the beginning of the twentieth century, fashionable commerce was moving northward from the Ladies Mile area, between Union Square and Madison Square, to Fifth Avenue north of 34th Street, then a residential area.5 The Gorham Building was one of the first commercial palaces built on Fifth Avenue above 34th Street, along with the Tiffany & Co. building (McKim, Mead & White, 1903-06), 397-409 Fifth Avenue at East 37th Street, and the B. Altman & Co. building (Trowbridge & Livingston, 1905-13), 355-371 Fifth Avenue at East 34th Street. (Both are designated New York City Landmarks.)
Many of the city’s most fashionable stores followed this trend in the years prior to World War I. In 1907 critic A.C. David described Fifth Avenue as "the only American street devoted for over a mile of its length exclusively to retail trade of a high class which has taken on a specific character. … It provides exclusiveness (in the matter of retail trade) for the masses. . . .
One gets the impression on Fifth Avenue that all the world is there, that all the world has more money than it needs, and that all the world rather likes to exhibit its superfluity."
In 1903, the president of the Gorham Manufacturing Company, Edwa
current market price for gold
Velthuis shows that prices, far from being abstract numbers, convey rich meanings to trading partners that extend well beyond the works of art. A high price may indicate not only the quality of a work but also the identity of collectors who bought it before the artist’s reputation was established. Such meanings are far from unequivocal. For some, a high price may be a symbol of status; for others, it is a symbol of fraud.
Whereas sociological thought has long viewed prices as reducing qualities to quantities, this pathbreaking and engagingly written book reveals the rich world behind these numerical values. Art dealers distinguish different types of prices and attach moral significance to them. Thus the price mechanism constitutes a symbolic system akin to language.