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.
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Welcome back to the SilverTowne Vault Cast. Today we have 3 articles to cover. I have 37 facts about how cruel this economy has been to millions of desperate American families, Dow:Gold Makes $12,400/oz Gold a Realistic Target, and Silver Prices Get Crushed; Is It Time To Buy. All very interesting topics, but before we get into those and cover todays precocious metals prices, I want to remind you that you can subscribe to the SilverTowne Vault Cast on YouTube and in the iTunes store and never miss another episode. We would also really love your feedback so please fell free to leave a comment.
Now lets go ahead and get into today's precious metals pricing!
Gold - $1716.57 Up $14.91
Silver - $32.15 Up $0.43 cents
Platinum - 1571.00 Up $16.50
Palladium - $598 Up $9.49
Financial News:
37 Facts About How Cruel This Economy Has Been To Millions Of Desperate American Families
Have you ever laid in bed awake at night with a knot in your stomach because you didn't know how your family was possibly going to make it through the next month financially? Have you ever felt the desperation of not being able to provide the basic necessities for your family even though you tried as hard as you could? All over America tonight, there are millions of desperate families that are being ripped apart by this economy. There aren't nearly enough jobs, and millions of Americans that actually do have jobs aren't making enough to even provide the basics for their families. When you have tried everything that you can think of and nothing works, it can be absolutely soul crushing. Today, one of my regular readers explained that he was not going to be online for a while because his power had been turned off. He has been out of work for quite a while, and eventually the money runs out. Have you ever been there? If you have ever experienced that moment, you know that it stays with you for the rest of your life.
The following are 37 facts that show how cruel this economy has been to millions of desperate American families...
1. One recent survey discovered that 40 percent of all Americans have $500 or less in savings.
2. A different recent survey found that 28 percent of all Americans do not have a single penny saved for emergencies.
3. In the United States today, there are close to 10 million households that do not have a single bank account. That number has increased by about a million since 2009.
4. Family homelessness in the Washington D.C. region (one of the wealthiest regions in the entire country) has risen 23 percent since the last recession began.
5. The number of Americans living in poverty has increased by about 6 million over the past four years.
6. Median household income has fallen for four years in a row. Overall, it has declined by more than $4000 over the past four years.
7. 62 percent of middle class Americans say that they have had to reduce household spending over the past year.
8. According to a survey conducted by the Pew Research Center, 85 percent of middle class Americans say that it is more difficult to maintain a middle class standard of living today than it was 10 years ago.
9. In the United States today, 77 percent of all Americans are living to paycheck to paycheck at least some of the time.
10. In the United States today, more than 41 percent of all working age Americans are not working. Read More...
Dow:Gold Makes $12,400/oz Gold a Realistic Target
It was fascinating to read the comments of “Mr. Gold” Jim Sinclair this week about gold heading for $3,500 to $12,400-an-ounce as a result of a shift in spread management by the bullion banks (click here). He used to run one so knows exactly when and why these banks are likely to slash their short positions and go fully long in the precious metal.
However, a consideration of the famous Dow:Gold ratio is also relevant here as a confirmation of where this price swing will go. Historically the ratio of the Dow Jones Index to the price of gold has in extremis swung to parity with one ounce of gold equal in value to the dollar-value of this index (see graph below, it is an unmistakable trend).
1980 Dow:Gold Ratio
In 1980, for example, $850 an ounce gold approximately matched 850 on the Dow Jones Index. With the Dow around 13,000 today it would require a gold price of $13,000 to deliver the same Dow:Gold ratio of one.
Of course if the USA moved into a deep recession in 2013-14 then you might anticipate a Dow Jones Index some 30%-50% lower. In that case gold prices would only have to move to $6,200-$8,680 to achieve the magic parity in the Gold:Dow ratio.
Mr. Sinclair’s lowest estimate for the top gold price of $3,500 an ounce would have the Dow plunging by 75% in a massive sell-off. Therefore, those who are optimistic about the ability of Fed to support high stock market prices by printing money also ought to be very confident about a massive hike in the gold price. Read More...
Silver Prices Get Crushed; Is It Time To Buy?
Just a short time ago, silver had been surging relatively under the radar. Its strong gains were out-shined by gold, despite the white metal performing better than its more popular counterpart. But recent weeks have seen some weakness restored to the silver market, as October is notoriously weak for precious metals. Since peaking in early October, silver has dropped by nearly 7.4%, marking hefty losses for just a handful of trading sessions [for more silver news and analysis subscribe to our free newsletter].
Silver has long been more volatile than its gold counterpart, but that has attracted a wealth of investors who have seen the metal outdo gold on a number of occasions. This year alone, the commodity is up over 17%, compared to gold’s 11%. In 2009 and 2010 the precious metal surged by 47% and 82% respectively, dwarfing the returns of gold. But for every time that silver’s gains have surpassed those of gold, this metal has also turned in steep losses due to its hefty volatility.
With silver on the downtrend right now, a strong buying opportunity may soon present itself, as the beaten-down metal is still well-off its historical highs.
Read More...
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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.
