March 2023 - Week 5 Edition
GOLD Crosses $2k Threshold Twice in One Week
Gold touched $2,000-plus twice last week, reaching $2,006 before dropping to $1,960 on a stronger dollar Friday and some profit-taking Monday by gold traders. The number of failing banks seemed to pause, for the moment, due to promises of bailouts to all depositors – although these were not clear promises, as it turns out, with Treasury Secretary Janet Yellen waffling and sending stocks down, only to recover later.
March 2023 - Week 4 Edition
Gold Topped $2,000 For Just the Third Time in History
Gold enjoyed a powerful mid-month rally in March. Rising from a low of $1,811 on March 8, gold peaked at over $2,000 per ounce on Monday, March 20, just 12 days later, mostly due to the global banking crisis, centered in San Francisco and Switzerland, but threatening contagion in other areas.
March 2023 - Week 3 Edition
The Special Problems – Long Ignored – With Silicon Valley Bank
This is a lot like the bank and S&L crisis of the late 1980s, rare coin prices soared. And when the real estate bubble and financial crisis of 2008-09 occurred, gold, silver and rare gold coin prices soared. And when we experienced the dollar and inflation crisis of the late 1970s, both precious metals and rare coins soared.
March 2023 - Week 2 Edition
President Biden is Presenting a Spendthrift Budget Relying on Tax Increases for Funding
We are already well past the point where our accumulated debt (over $31 trillion) has passed the annual GDP ($23 trillion). The only other time this happened was at the end of World War II.
March 2023 - Week 1 Edition
The U.S Budget Deficit is on Pace for $1.3 Trillion in 2023 & $20 Trillion in a Decade
There is a looming debt ceiling debate. The cumulative public debt is over $31 trillion and rising. During the first four months of this Fiscal Year (2023), beginning October 1, 2022, the federal government has amassed a $459 billion deficit – an annual rate of $1,377 trillion.
February 2023 - Week 4 Edition
Huge Public and Private Debts are Accumulating Faster Every Quarter
According to the New York Federal Reserve Bank, in their Household Credit and Debt report, a fourth-quarter debt spending binge by the public pushed credit accounts to record highs in many categories. This will not end without a painful day (or year) of reckoning for taxpayers and consumers alike. With the dollar inflating at higher-than-expected rates, gold will likely take off in value once again. Now, is the time to call our professional account representatives to learn more about how you can invest wisely in gold.
February 2023 - Week 3 Edition
Traders React to Job Numbers Pushing Gold Down After Big Gains
With several “unidentified flying objects” being shot down over North America in the past week, and as we come up to the one-year anniversary of Russia’s invasion of Ukraine (February 24, 2022) we should be aware that imminent threats coming from Russia and China have not been “priced into” the downward risk in stocks or the upward potential in gold. Wise investors will be wary of the recently “overbought” level of most stock markets and the “underbought” levels of precious metals. I urge you to call your account representative today to learn about the best precious metal products currently available for your portfolio. You will be glad you did!
February 2023 - Week 2 Edition
The World Gold Council Reported an 11-Year High in Gold Demand
Gold demand rose 18% over 2021, reaching 4,741 metric tons (each ton amounts to 32,150 Troy ounces), not counting the active over-the-counter (OTC) trading markets. Central banks bought 1,136 (24%) of those tons, a 152% increase over 2021 when central banks bought only 450 tons of gold.
February 2023 - Week 1 Edition
U.S. Mint Bullion Coin Sales Continue to Decline Due to Production Challenges and High Premiums
The U.S. Mint continues to lag behind last year’s sales of the American Silver Eagle series due to past delays in production, delivery and high costs charged by their authorized purchasers.
January 2023 - Week 4 Edition
Gold Continues Strong Run Into 2023
Gold has now risen five weeks in a row and 11 out of 13 weeks since the week ending October 20, 2022.
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