Saturday, September 4, 2010
KWN Weekly Metals Wrap
The KWN Weekly Metals Wrap - Covers the Commitment of Traders Report in detail as well as a number of other factors which can influence the gold and silver market price action. In the KWN Weekly Metals Wrap, we have added a new segment. I am giving listeners globally for the first time on King World News access to what has long been one of my secret weapons in researching where gold and silver are headed directionally along with the COT Report.
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Headquartered in Phoenix, Arizona, CMI Gold & Silver Inc. is one of the oldest and largest gold and silver dealers in the United States and has played a major role in introducing investors to the gold and silver markets. Although domiciled in Phoenix, Arizona, CMIGS buys and sells gold and silver with investors across the United States.
Why Phoenix, Arizona?
Because Arizona is the nation's largest copper producing state and the nation's fifth-largest silver producer, Phoenix is also the home of major mining companies. In 1973, when silver was only $2.00, CMIGS' founder, a longtime Phoenix resident with ties to Arizona's mining interests, recognized the growing uses for silver and the dwindling silver stockpiles would result in higher silver prices. Consequently, CMIGS was launched to sell silver bullion to investors. In 1980, silver topped $50.
When Americans regained the right to own gold bullion on December 31, 1974, CMIGS became one of the first dealers in country to recommend buying gold. The following year, gold averaged $160 and in 1980 hit $850.
