Every day, we receive this question, “Why isn’t gold higher?” After all, in an environment with...
As investors await the next key economic report on Thursday, gold prices have fallen back slightly.
Gold spot prices rose 4.1% in July, after dipping in both May and June, following a strong first half of the year. Historically, summer has been a slower season for the precious metals industry, but as summer comes to an end, so too does the opportunity to obtain gold and silver at lower prices.
It's not possible to say for certain what the reminder of 2023 has in store, but we know the proven power of precious metals as a hedge against inflation and economic volatility is more necessary now than ever. While the pace of inflation has slowed, it is still rising, meaning that it is still more expensive than this time last year to purchase consumer goods.
The upcoming CPI report will strongly impact whether additional Fed interest rate increases will be necessary to rein in the high costs of goods and services. The U.S. jobs report for July signaled that the labor market is cooling, but unemployment declined and wages increased. Still this doesn't present the full picture... consumer and credit card debt is rising. Furthermore, the unemployment numbers are falsely inflated because of many working multiple jobs to make ends meet. Wages have not risen to meet inflation
We anticipate stronger demand for safe haven assets as markets head towards the end of the year. When the Federal Reserve pauses, the pivot – the lowering of interest rates – will soon follow. When that happens, we will have lift-off on gold and silver prices.
And since a pause may be enough to ignite the lift-off, we may see that as early as this fall.
Today, we're able to offer sovereign 1 oz. gold coins at a favorable premium, PLUS the chance to accumulate more silver as well.
Give us a call at 1-800-831-0007 or email us to place your order today!
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*Prices subject to change based on market fluctuation and product availability. Prices reflected are for cash, check, or bank wire. Minimum order is 1 oz. gold. Free shipping, handling, and insurance are available for gold purchases of 10 oz. or more. Receive a 1 oz. Silver American Eagle coin for every three gold coins purchased. Offer expires Friday, August 11, 2023, or while supplies last.
