June 2013, Week 2 Edition
Published by Award-Winning Texas Coin Company Universal Coin & Bullion
A National Gold & Silver Dealer Helping Customers Buy Gold Since 1994
Chinese markets are closed early this week (Monday through Wednesday) for the Dragon Boat Festival, so their gold markets will not be active, but there is a new series of gold exchange-traded funds emerging in China. Specifically, Huaan Asset Management and Guotai Asset Management received approval from the China Securities Regulatory Commission to launch gold ETFs denominated in the Chinese yuan. Like the similar U.S.-based ETFs, they will be traded as common stocks on the Shanghai Stock Exchange.
We all remember how gold demand took off in 2004 after the introduction of gold ETFs in America. That kind of surge could happen soon in China. Zhang Bingnan, secretary-general of the China Gold Association says that gold ETFs "should help boost gold demand as they will make Chinese investments in bullion much easier." Referring to fickle New York traders, he added that, "The dumping recently of holdings in gold exchange-traded products by overseas investors may not prove to be a wise move."
It's usually a mistake to think that an expert in one field is an expert in all fields. Recently, we analyzed why Warren Buffett is a great stock picker but a lousy gold timer. He even "hated gold at $35" in the 1960s. There are many other examples we could cite. Last week, economist Nouriel Roubini, the famed "Doctor Doom," gave the world six reasons why he thinks gold will fall to $1,000 per ounce by 2015.
Here are his six reasons, in brief, and why we think he is all wet about a subject he doesn't understand:
Mike Fuljenz, President of Universal Coin & Bullion, joined Jessica Guidry on FOX 4 KBTV Southeast Texas Live to talk about the NRA convention in Houston, TX, gold and silver IRA's, authentication and grading.
Universal Coin & Bullion is Beaumont, Texas Chamber of Commerce business of the month. President Mike Fuljenz discusses counterfeiting, a ten million dollar coin and our national motto.
Michael Fuljenz was a keynote speaker at a special training course for Texas law enforcement personnel on the topic of investigating crimes involving rare coins, bullion and jewelry. Mike provided seminar participants with information on where they can promptly get assistance.
(Philadelphia, Pennsylvania) – America's Gold Expert, Michael Fuljenz, President of Universal Coin & Bullion (www.UniversalCoin.com) in Beaumont, Texas, set an unparalleled record of achievement at the World's Fair of Money in Philadelphia, August 7 - 11, 2012. He received another six prestigious industry awards, continuing a string of honors and accomplishments at these annual gatherings of the world's top rare coin and precious metals dignitaries…
Mike Fuljenz wins 2 First Place awards from the Press Club of Southeast Texas. One award was for his weekly "Mike Fuljenz Metals Market Report" that is read nationally by precious metal buyers and sellers. He also took first place for his prestigious "Personal Gold Guide" publication.
ICTA Board of Directors Member Mike Fuljenz Goes to Washington
To Support the Collectible Coin Protection Act
I was among a half dozen of the country's numismatic leaders who met in Washington, DC on June 28, 2012 with Congressional leaders and staff members to discuss the importance of the proposed legislation to protect the public.