After unveiling its own “currency” bearing Republican presidential candidate Ron Paul’s likeness this year, The Liberty Dollar of Evansville, Ind., an “alternative” mint that has tried to print its own money to compete with the U.S. dollar, has now minted coins that advocate an end to the war in Iraq.

The Liberty Dollar made its name minting coins pegged to commodity prices. It has now released the 2008 Peace Dollar, with a face value of 10 Liberty Dollars and containing a half-ounce of pure silver.

The $20 Ron Paul Dollar was minted in support of the Republican presidential candidate, who has ridden a wave of Internet buzz to increased prominence. Also available are $1,000 gold denominations. Read Full Story

After a 27-year hiatus, gold returned to the lofty price of $800 an ounce yesterday. But that number was unlikely to shock anyone — investors or even consumers hankering for a 14-karat necklace.

Gold has surged more than $100 an ounce in two months as a weak dollar, high oil prices and concerns about world tensions have increased the allure of precious metals as a safe investment. The Federal Reserve’s decision to lower its benchmark interest rate for the second time in as many months helped vault gold futures yesterday.

The sharp rise in prices hasn’t scared off investors — quite the opposite, according to George Milling-Stanley, spokesman for the World Gold Council. (more…)

NGC has introduced the American Liberty Series, a suite of four labels for the Silver, Gold, and Platinum Eagles, and the Gold Buffalo. These label designs showcase elements from the obverse design of these coins on a gradient background.

The American Liberty Series is available only to submitters who meet minimum submission requirements. All dates, mint marks, proof and mint state issues of US bullion coins are eligible, but no pedigrees or early release designations are available in conjunction with the American Liberty Series labels. The grading standards and procedures are identical to those used for regular NGC labels; only the appearance differs. Read Full Story

Is it speculation that drove the oil price above $90 last week, or is there something more fundamental happening..?

Well, as I have argued many times here before, I believe that the oil price will rise over the medium term due to fundamental factors. However, the major driver that has pushed WTI futures over $90 and gold to a 28-year high is much more simple that supply and demand. It is a basic human emotion. That emotion is fear…

Investors are scared. They have been moving away from assets that are now seen as risky after profligate and stupid lending in the US prompted a credit crunch. Investors, both private and institutional have therefore been seeking safety.  Read Full Story

Gold hit a 28-year high on Tuesday, helped by record-high oil prices and geo-political tension. Prices later slowed gains as profit-taking set in, with the dollar’s slight gains versus the euro .

Having surged past $760 an ounce, some dealers say the market was well positioned in coming sessions to close in on the $800 mark. This has range has not been seen since 1980 when bullion hit a record $850.

Support was  coming from further dollar weakness and strength in crude oil that makes gold a hedge against oil-led inflation.

“Anything is possible. We’ve certainly broken out and we’re sort of in uncharted waters as we haven’t been here in so long,” said David Holmes, director of precious metals at Dresdner Kleinwort.

“The big theme of the market is that it’s been very difficult to predict the high and everybody is being cautious as they know the market is long, but the momentum is still upwards,” he added.

London Spot gold was trading at $760.00/760.70 per troy ounce up from $758.20/759.00 late in New York on Monday, having hit a 28-year peak at $766.60 earlier.