Robert Rosenzweig, CEO of Cache Metals and 640 Host, Jasmine Bowen discuss key topics surrounding Precious Metals investing including: Riots in Greece, Civil unrest in Turkey and Iran, US unemployment, US elections, Fiscal cliff, QE4, Mining company stocks and more.
Tune in to AM 640 Thursday at 7:05 pm ET to listen to the weekly Gold & Silver Precious Metals Update featuring Cache Metals' Robert Rosenzweig.
Precious metals continues it consolidation pattern lower as the market digest U.S data releases and awaits Chinese data over the weekend.
Spot gold traded lower to $1758 as traders booked profits ahead of the weekend not wanting to remain long due to the release of China's trade balance due to be released Saturday. U.S data released this AM saw University of Michigan's consumer confidence report that its main index to a 5 year high of 83.1 in October from 78.3 last month. US PPI for September came in at 1.1%, core PPI was flat, below the expected and previous reading of 0.2%.
Robert Rosenzweig, CEO of Cache Metals and 640 Host, Jasmine Bowen discuss key topics surrounding Precious Metals investing including: unemployment rates, bank stimulus, european bailouts, international markets, China, silver, India, investing and more.
Tune in to AM 640 Thursday at 7:05 pm ET to listen to the weekly Gold & Silver Precious Metals Update featuring Cache Metals' Robert Rosenzweig.
The weakness from last week has carried over as spot gold has dropped to a two week low of $1755 amid more Eurozone worries.
The most anticipated day of the month for the market always presents fireworks. The release of the August Nonfarm payrolls (NFP) and the unemployment number did not disappoint this time around.
Monday saw spot gold run to its highest level this year as the yellow metal touched $1791, while today's trading has left the metal largely unchanged after the mid day sell off.
Precious metals markets got a boost yesterday from investor confidence in Spain and month end book squaring as the yellow metal continues to eye $1800.
A quiet day on the precious metals market with spot gold and silver giving back more gains as profit taking continued to start the week.
Spot gold was in retreat mode trading to an intra-day low of $1756 the weaker markets were not confined to the metals space as financial markets were lower across the board. The Dow Jones Industrial Average was down 53 points in the early session.
_63.png "cache Metals Gold & Silver Daily Market Report")
Spot gold traded sharply higher testing fresh 6 month highs of $1787.60 as the buying has been spurred on by the monetary stimulus from Central banks.
With a lack of fresh new U.S data released traders continued to ride the monetary stimulus train as four major central banks, the European Central Bank, the US Federal Reserve, the People's Bank of China and the Bank of Japan all announce stimulus measures in the past few weeks. This could have inflationary implications, which would benefit gold because it acts as an inflation hedge.
The price charts for gold [GCCV1 1768.00 -1.30 (-0.07%)] are approaching a “golden cross” — in which the 50-day moving average surpasses its 200-day moving average — suggesting the start of a bull market, but is it a buy?
Joe Terranova of Virtus Investment Partners said yes Wednesday on CNBC’s “Fast Money.”
USA
Canada
© 2012 Cache Metals Inc. | Canada's Gold & Silver Specialists.
Buy Gold Online Buy Silver Online Buy Platinum & Buy Palladium Buy Bullion Bars & Coins Online
Corporate Office Address
166 Davenport Road | Toronto | Ontario | Canada | M5R 1J2 |
Tel: 416.916.6660 | Toll Free: 1.877.916.6670 | Fax: 416.916.6702
Map Location
Toronto Retail Location l Buy Gold & Silver in Toronto
215B Davenport Road l Toronto l Ontario l Canada
Tel: 416.966.6660 l Toll Free:1.877.916.6670 | Fax: 416.916.6702
Hours Map Toronto Gold & Silver Store
Cache Metals, an online gold and silver bullion dealer, services clients across Canada & the USA, including; Toronto, Vancouver, Montreal, New York, California, Georgia, New Jersey, Ohio, Tennessee, Montana, Florida, Boston, Detroit. Buy gold and silver online at wholesale prices.
As with all investments, the price of precious metals changes rapidly, and as such should be considered volatile. Upon entering the metals market, the risk of loss is solely that of the client. Only individuals who are capable of sustaining a capital loss should consider purchasing precious metals. Acquisitions in precious metals which are financed are considered high risk
