Welcome to the Silvertowne Vault Cast, helping you protect yourself against inflation and preserve wealth with physical Gold and Silver
My name is Shawn Ozbun, and our goal is to keep you up to date with what’s going on in the world of Gold and Silver by providing you with current news and precious metals pricing.
The Silvertowne Vault Cast is brought to you by www.Silvertowne.com
Welcome back to the SilverTowne Vault Cast. We have a lot of interesting news on the table today and I can't wait to get into it and share it with you guys. Now I know that what we cover on this podcast is not exactly great news. Hearing that our dollar is about to inflate and our market is going to crash is not something anyone wants to hear or believe. However sometimes the facts and the truth are not always pretty. I think it’s more important to be informed then to be blind to what’s going on. At least the informed and aware can prepare.
You can help prepare and protect yourself buy getting your hands on some physical gold or silver. Actually almost anyone can do this. Silver is $34 per ounce. Just about anyone can find a way to get there hands on an ounce or two per month. If we have a financial collapse or out of control inflation. Those couple ounces of silver could really make a big difference. I would like to encourage you to contact SilverTowne today.
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Now lets go ahead and get into todays precious metals pricing!
[September 24, 2012 ]
Gold - $1760.92 down $1308
Silver - $33.83 down .79 cents
Platinum - 1617.00 down $24.00
Palladium - $651.00 down $24.00
Financial News:
Counterfeit Gold bars Discovered in New York City
Jewelry merchants in New York City are finding out they have to be more careful that they're not inadvertently buying fake gold.
The issue of counterfeit gold is re-emerging after a reputable merchant in Manhattan discovered he'd bought $100,000 worth of fake gold bars, WNYW reported. When merchant Ibrahim Fadl drilled into several of the gold bars he'd bought from a regular source, he discovered they were actually filled with gray tungsten. Whoever is making the fake gold bars seems to be running a complex operation. "I can't imagine how they cut the bar clean, and cut, and took everything inside out and left the shell to fit the tungsten in," Fadl told NY1 News. According to WNYW, the deception happens when a hollowed-out, real gold bar with serial numbers and papers is filled with cheaper tungsten, since it weighs nearly the same. For merchants like Fadl, it's a costly mistake: A counterfeit 10-ounce gold bar bought for almost $18,000 ends up only being worth $3,600, WNYW reported. Read More...
Gold Bulls Extend Streak as Prices Jump on Stimulus: Commodities
Fifteen of 29 analysts surveyed by Bloomberg expect prices to rise next week and seven were bearish. A further seven were neutral, extending the overall bullish outlook for an 18th week. Hedge funds’ bets on a rally are at a six-month high and investors bought the most through gold-backed exchange-traded products this quarter in more than two years.
The Federal Reserve announced a third round of debt-buying Sept. 13 and the Bank of Japan said two days ago it will add 10 trillion yen ($128 billion) to a fund that buys assets. The European Central Bank announced an unlimited bond-purchase program Sept. 6 and China approved a $158 billion subways-to- roads construction plan. Gold rose 70 percent as the Fed bought $2.3 trillion of debt in two rounds of quantitative easing from December 2008 through June 2011.
“Gold is one of the commodities that will benefit most from quantitative easing,” said Kamal Naqvi, the head of commodities sales in Europe, Middle East and Africa for Credit Suisse Group AG in London. “Everyone is talking about gold at $2,000 an ounce and I still think we’ll get to at least that.” Read More...
Gold Higher On Demand
The dollar continued to gain ground on the euro but that wasn’t enough to derail the upward march of commodities prices.
Gold was up $6.34 to $1,774.72 and silver up a dime to $34.76, for a silver/gold ratio of 51. Gold and silver were joined higher by crude oil, platinum, crude oil, palladium, and copper.
What’s interesting, and frequently goes unnoticed in discussions of gold investing, is why gold tends to track with commodities at all.Gold meets the definition of a commodity in that it’s a metal and there’s a finite amount of it in the ground, but it has few industrial uses. Yet, there is gold, tracking up and down with other more industrially useful commodities like copper and crude oil. Gold demand then is not being driven by its intrinsic value as an industrial metal; it’s something else. That other value is gold’s unique position in the world as a secondary type of currency; some would argue gold is the only true “money” left. The “industrial” demand for gold comes from central banks, called the “official sector” in industry parlance. Read More...
Citi see stocks falling by 20% in worst-case fiscal cliff scenario
How bad could going over the “fiscal cliff” be for investors? Try a 20% decline in equity prices, Citi Research analysts said in a note on Friday.
That’s under a worst-case scenario mapped out by analysts about what happens if big tax hikes and spending cuts are allowed to take effect at the beginning of next year. It’s one of three scenarios contemplated. The other two envision sidestepping some of the fiscal cliff measures like tax hikes, and hatching a “grand bargain” of fiscal consolidation.
With Congress about to leave town until after the elections — and no visible progress on the fiscal cliff — the worst-case scenario becomes all the more interesting. If there’s no deal, the Citi analysts say that in addition to the decline in stock prices, oil prices would drop by $20 a barrel; a 5% depreciation of the dollar is possible; and unemployment would rise to at least 9.5% through 2014, from 8.1% in August.
The analysts note that there is “little if any probability” that lawmakers would allow the worst-case fiscal cliff scenario — coupled with a failure to raise the debt ceiling — to play out. Read More...
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For the best source for acquiring gold and silver please contact Silvertowne at 1-877-477- coin, that’s 1-877-477-2646 or you can visit us at www.silvertowne.com. Silvertowne has been a trusted precious metals and numismatics dealer since 1949.
One of the most common ways to invest in silver is with silver ingot . They are affordable, portable and easy to stack and store. Popular SilverTowne Trademark Silver Bars, featuring a classic prospector and his donkey, are guaranteed .999 fine silver and available in 1, 5 and 10 ounce sizes and SilverTowne is currently offering free shipping for these ingots. Contact Silvertowne today.
[Disclaimer] Shawn Ozbun is not a licensed financial adviser, there is risk associated with all investment including gold and silver.You should seek advise from a licensed financial expert before making a purchase.
