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 another episode of the SilverTowne Vault Cast. Got a lot to cover today. Going to talk a little about the silver and gold eagles that are breaking sales records. We are going to go over some startling statistics about the working poor in America. Marc Faber will never stop buying gold and we will find out why that is, and last we are going to talk a little bit about Platinum.
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Now lets get into today's precious metals pricing!
Gold - $1681.75 Up $2.02
Silver - $31.48 Same
Platinum - $1683.00 Down $1.00
Palladium - $723.84 Up $3.71
Financial News:
Silver, Gold Coins On Pace To Break Record
U.S. American Eagle gold and silver coin sales have been exceptionally strong in January, building on a late 2012 rally as collectors scramble to snap up newly minted 2013 coins and investors seek refuge from U.S. economic uncertainty.
Some coin dealers, however, warn of a post-January drop in sales similar to last year's pattern, as early interest tends to wane once the first mintage is over.
"There is always a big boom in the new year when the new issue comes out, and you will see a drop in the next month," said Miguel Perez-Santalla with online precious-metals exchange BullionVault.
Physical coins, whose sales tend to rise in response to fears over inflation and a falling dollar, have also struggled to compete with cheaper products such as exchange-traded funds, traders said.
As of Jan. 15, silver Eagle sales for the month exceeded 5 million ounces, data from the U.S. Mint's website showed. At that rate, sales would surpass an all-time monthly high of 6.1 million ounces set in January 2012.
With two weeks remaining in January, gold coin sales were 110,500 ounces, compared with 127,000 ounces for all of January 2012, on track for the highest monthly tally since 1999. Read More...
35 Statistics About The Working Poor In America That Will Blow Your Mind
In America tonight, tens of millions of men and women will struggle to get to sleep because they are stressed out about not making enough money even though they are working as hard as they possibly can. They are called "the working poor", and their numbers are absolutely exploding. As a recent Gallup poll showed, Americans are more concerned about the economy than they are about anything else. But why are Americans so stressed out about our economic situation if things are supposedly getting better?
#1 According to the U.S. Census Bureau, more than 146 million Americans are either "poor" or "low income".
#2 According to the U.S. Census Bureau, 57 percent of all American children live in a home that is either "poor" or "low income".
#3 Back in 2007, about 28 percent of all working families were considered to be among "the working poor". Today, that number is up to 32 percent even though our politicians tell us that the economy is supposedly recovering.
#4 Back in 2007, 21 million U.S. children lived in "working poor" homes. Today, that number is up to 23.5 million.
#5 In Arkansas, Mississippi and New Mexico, more than 40 percent of all working families are considered to be "low income".
#6 Families that have a head of household under the age of 30 have a poverty rate of 37 percent.
#7 Half of all American workers earn $505 or less per week.
#8 At this point, one out of every four American workers has a job that pays $10 an hour or less.
#9 Today, the United States actually has a higher percentage of workers doing low wage work than any other major industrialized nation does.
#10 Median household income in the United States has fallen for four consecutive years.
#11 Median household income for families with children dropped by a whopping $6,300 between 2001 and 2011.
#12 The U.S. economy continues to trade good paying jobs for low paying jobs. 60 percent of the jobs lost during the last recession were mid-wage jobs, but 58 percent of the jobs created since then have been low wage jobs.
#13 Back in 1980, less than 30% of all jobs in the United States were low income jobs. Today, more than 40% of all jobs in the United States are low-income jobs. Read More...
Why Marc Faber Will Never Stop Buying Gold
Marc Faber, author of the famed “Gloom, Boom & Doom Report,” is a respected name in the investing world. If ever there was a perma-bear, it would be Faber. He tends to focus on areas of the world that he sees problems in and allow that information to influence his investing decisions. But no matter what segment Faber has an eye on, his focus always circles back to one asset: gold. The precious metal has long been an important part of his holdings, and he has not been shy about vocalizing his love for the commodity.
Faber’s Gold Strategy
As 2013 opened, Faber was quick to note that the threat of inflation around the world coupled with a weak dollar has him very worried about the future of the global economy. His solution? He buys gold every single month, waiting for a 20% price correction. Though gold took a hit at the end of 2012, Faber is waiting for a further drop to shake out all of the speculators and those with margin calls so he can make a more meaningful increase to his position.
Faber has also stated that he intends to hold the precious metal for as long as he lives: “I will never sell my gold in my life. As long as I have to look at people like Mr. Bernanke and Mr. Obama, I will always buy gold each month.” Though Bernanke will likely end his time at the Fed in 2014 and Obama will exit the White House in 2016, Faber seems comfortably set in his ways. Unlike other experts, he is not concerned that 2013 will bring an end to gold’s 13 consecutive positive years, as he feels that there are too many issues around the world for gold not to go up. Read More...
Platinum Tops Gold, US Gold and Silver Coins Rise
Precious metals advanced Tuesday for a second straight day. Platinum led in gains as it closed to a three-month high and topped gold for the first time since April.
Platinum for April delivery jumped $31.70, or 1.9%, to$1,689.90 an ounce, trading between $1,654.00 and $1,706.80. The settlement price was the highest since Oct. 10.
Platinum moved higher Tuesday on news that Anglo American Platinum, the world’s largest platinum producer, would cut output this year by about 400,000 ounces. Read More...
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[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.
