silverinvesting
Speaking to the Investing News Network, Jp Cortez, executive director at Sound Money Defense League, discussed the importance of sound money and his organization's efforts to remonetize gold and silver in the US. 2024 has been the most successful year in Sound Money Defense League's decade-long history, with six states signing bills into law that end sales taxes on gold and silver. Only five states still charge these taxes. In total, Cortez said more than 60 pieces of legislation have been introduced in over 25 states so far this year. With inflation persisting, he believes more and more peopl...
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The US Federal Reserve announced on Wednesday (June 12) that it will hold its benchmark interest rate steady at 5.25 to 5.5 percent following its two day Federal Open Market Committee (FOMC) meeting. This marks the seventh time the central bank has maintained its policy since July 2023, when it last raised the rate. The meeting occurred the same day as the release of May’s consumer price index (CPI) data from the Bureau of Labor Statistics. The data shows a 0 percent change in CPI month-on-month, down from April’s 0.3 percent increase. On a 12 month basis, CPI saw a 3.3 percent increase over l...
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Chris Marcus, founder of Arcadia Economics and author of "The Big Silver Short," broke down silver's rise above US$30 per ounce, outlining the wide array of factors that are driving the metal right now. He said that silver has followed gold, which started to move around mid-February and early March, spurred on by expectations that the US Federal Reserve was going to cut interest rates. It still has not done so. "It's been interesting that you would see gold start rallying then, and then silver follow," said Marcus. "I wonder if there's some degree to which, when you have forces like the US deb...
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Precious metal silver is often compared to gold, and is important in jewellery and as a safe haven. Unlike gold, silver also has many industrial uses, including in the production of electronics, automobiles, medicine and photography, and, of course, silverware. Energy transition applications are a growing demand sector for silver — the metal is valued for its conductive capacity, which makes it particularly useful in the production of photovoltaic panels. Silver supply has tightened in recent years as industrial demand rises, and this was one of the factors that helped the silver price break t...
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Gold and silver prices fell off a cliff on Friday (June 7) after seeing strength earlier in the week. The yellow metal rose as high as US$2,386.62 per ounce on Thursday (June 6), while its sister metal hit US$31.49 per ounce the same day. But strong US jobs data and gold-related news out of China turned those gains around. May data from the US Bureau of Labor Statistics shows that 272,000 nonfarm payroll jobs were added for the month, much higher than the 180,000 anticipated by experts. The unemployment rate came in at 4 percent for the period. The US Federal Reserve is scheduled to meet next ...
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Speaking to the Investing News Network, Peter Krauth, editor of Silver Stock Investor, shared his thoughts on what took the silver price above US$30 per ounce and why he's not concerned to see it fall below that level. He explained that the gold price move that started about three months ago lit a fire under silver, which tends to lag behind its yellow counterpart before outperforming. That scenario is currently playing out. Aside from that, Krauth believes futures exchanges and exchange-traded funds are being drained of silver. "I think that the market's come to grips with the fact that that'...
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David Morgan, publisher of the Morgan Report, shared his latest thoughts on silver, outlining the main factors he sees driving the metal at the moment and what its price potential looks like moving forward in 2024. He thinks silver is breaking out given that its move above US$30 per ounce meets the criteria outlined in his Morgan Rule. "Whenever we get a new level ... it must go above that level three days in a row. It can go below the level during the day, but it has to remain above the level OCO — on close only — which is a trading term," he explained. "And it needs to be on above-average vo...
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It was a week of ups and downs for gold, which traded between about US$2,325 and US$2,361 per ounce. Investors were looking toward the latest personal consumption expenditures (PCE) price index data, which was released by the US Bureau of Economic Analysis on Friday (May 31) morning. It shows that PCE was up 0.3 percent month-on-month in April, and 2.7 percent from the previous year. Core PCE, which excludes the more volatile food and energy categories, was up 0.2 percent from March and 2.8 percent compared to last April. PCE is the US Federal Reserve's preferred measure of inflation, and it's...
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The US Bureau of Economic Analysis released its personal consumption expenditures (PCE) price index data for April on Friday (May 31). The release shows that PCE remained steady on both a monthly and yearly basis, matching the March rises of 0.3 percent and 2.7 percent, respectively. Core PCE, which excludes the food and energy categories, was up 0.2 percent on a monthly basis, a decline from March’s 0.3 percent rise; however, year-over-year it matched the 2.8 percent gain from the previous month. Increases to personal income cooled slightly on a monthly basis, coming in at 0.3 percent, down f...
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Speaking to the Investing News Network, Chris Ritchie, president of SilverCrest Metals (TSX:SIL,NYSEAMERICAN:SILV), shared his thoughts on how inflation continues to impact gold and silver miners, and explained why his company has chosen to hold precious metals on its balance sheet in this environment. SilverCrest's Las Chispas operation in Mexico went into production about two years ago, and Ritchie said that after paying back all of its debt in seven months the company had to decide what to do with the cash it had coming in. "Some of the knee-jerk responses were, 'Let's go build a new mine.'...
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