Precious metals have been watching the dollar and interest rates over recent months, and they are getting conflicting signals. The dollar index tanked throughout 2017, and at the start of 2018, the selling continued. The recent rise in the price of precious metals from the middle of December has been a reflection of the diving value of the dollar against other world currencies, particularly the euro.
Chart Patterns The prices of the metals dropped $20 and $0.39, a downhill slide interrupted on Thursday by speculation fueled by some economic data, and which resumed on Friday.
Gold led the charge to recent highs. A correction where the weak get weaker and the strong stay strong. Geopolitics favor precious metals. The path of least resistance for the dollar is supportive for the sector. The long-term trends support buying dips; hold your nose and ignore the naysayers. In their heyday of acceptance and utility, governments employed gold and silver as comfort for their paper currencies. While countries around the world abandoned their policies…
Gold prices on Friday gave up the initial pop higher that followed another North Korean missile test, leaving the precious metal on track for a weekly loss and marking a solid retreat from the one-year highs scored last Friday.
Cryptocurrencies and other speculative investment vehicles have been in focus over the past several weeks because of their volatility and rising prices. Historically, the risk-seeking portion of the market would look to asset classes such as physical precious metals in times of uncertainty and/or heightened volatility, but due to an underlying downtrend, it appears as though recent developments in this area are going unnoticed. In this article, we take a closer look at the charts…
Unlike its big brother, gold, physical silver is coveted for both investment purposes and industrial usage. Right now, silver prices are in a bit of a slump — in other words, it’s the perfect time to load up on this precious metal while it’s down. Here are some good reasons why silver should be on every investor’s radar.
The Dow Jones Industrial Average is trading at all-time highs. The Nasdaq and the S&P 500 are similar. This begs many questions. Are the high stock prices supported by fundamentals or have they been levitated with “easy money”? Bubbles always collapse and prices crash. Stock indices are too high, but are they in historical bubble territory? What about gold, silver, real estate and bonds? Are they also in bubbles?
Gold and silver prices rallied Thursday, bolstered as the U.S. dollar fell after U.S. President Donald Trump said the currency has been trading at “too strong” of a level. June gold advanced by $7.10, or 0.6%, to $1,285.20 an ounce, with prices holding ground at their highest levels since early November. Silver for May delivery climbed 17 cents, or 0.9%, to $18.47 an ounce, poised to settle at its highest level since early March.
The silver market is going to experience a big reversal when the hedge funds and institutional investors rotate out of highly inflated stocks and into precious metals investments. This is not a matter of if, it’s a matter of when. And the when, could be much sooner than we expect due to the huge problems with the U.S. debt ceiling deadline on March 15, 2017.
Today we look at the wages paid to oarsmen on warships in ancient Athens in 450BC. Why on earth would we want to do such a thing? Because it tells us a great deal about the silver price today… How wages in ancient Athens compare to today In The Economy of Ancient Greece, historian Darel Engen describes how the Athenian unit of money — the talent (about 26kg of silver) — could purchase nine years…