SPOT MARKET IS OPEN
closes in 5 hrs. 23 mins.Nov 14, 2019 11:37 NY Time
| Bid/Ask | 1471.40 / 1472.40 | |
| Low/High | 1463.90 / 1473.30 | |
| Change | +8.00 | +0.55% |
| 30daychg | -9.30 | -0.63% |
| 1yearchg | +260.90 | +21.55% |
| Alerts Charts |
Silver Price & PGMs
Nov 14, 2019 11:37 NY TimeKitco 10AM Silver Fix
| Silver | 17.01 | +0.07 |
| Platinum | 882.00 | +8.00 |
| Palladium | 1710.00 | +24.00 |
| Rhodium | 5200.00 | +50.00 |
Click on the metal names to
see the associated charts
( Kitco, Thurs. Nov. 14th, 2019] – Gold prices were trading steady in the green after producer inflation pressure in the U.S. came in above expectations in October.
Producer Price Index (PPI) rose 0.4% in October following a drop of 0.3% in September, the U.S. Labor Department said on Thursday. According to consensus forecasts, economists were expecting an increase of 0.3%The annual PPI also beat market forecasts, advancing 1.1% in October after rising 1.4% the month before.
Core inflation, which strips out volatile food and energy prices was up 0.3% in October. Annual core inflation came in at 1.6% versus the expected 1.5% following September’s 2.0% increase.
Gold was largely unchanged in response to the data and trading near daily highs with December Comex gold futures last at $1,470.10 an ounce, up 0.46% on the day.
Market participants pay close attention to the PPI as a gauge for inflation at the wholesale level. It is seen as a leading indicator because traditionally producers pass on higher prices to their customers.
The Federal Reserve is also constantly keeping a close eye on inflation pressures, especially when making its decision on future rate moves.
Back in October, Fed Chair Powell stated that that current state of policy is “likely to remain appropriate” unless there is “a material re-assessment” of Fed’s outlook, singling a pause in the future. He also said that the Fed will not be ready to raise rates either anytime soon unless there’s “a significant move up in inflation.”
Commentary
As customers of 401 Gold. Consultants LLC consider the metals the pullbacks in prices become buying opportunities and this recent gold price drop of $50/ounce is one of those opportunities. When we stand back and see the overall picture , Gold is still up 18% this year, beating all fixed interest rates offered in any bank CD or fixed rate bonds and annuities. It is now time to use the CONSULT part of 401 Gold Consultants , “CONSULT, DECIDE, PROVIDE” tag line. Our job as your metals provider is to OUTPERFORM both inflation and the current low interest rates out there right now with the right U.S. certified gold , silver, platinum and palladium coins available.
Let’s get moving folks!
Posted by :
Jack Dempsey, President
401 Gold Consultants LLC
jdemp2003@gmail.com