Did you know there is more platinum on the moon and in meteorites than in the Earth’s crust? That rarity is just one reason the naturally-occurring element is commonly called white gold. Platinum is extremely rare — more rare than silver and about as scarce as gold. Yet only a fraction of the metal has…
Fed Announces Slight Taper Plans
Following its much-anticipated two-day meeting, the Federal Reserve announced today that it will begin a moderate taper of its bond-buying program beginning in January. Rather than a monthly bond purchase of $85 billion, the Fed will now purchase $75 billion in bonds monthly. Further, the Fed announced in a press release it would keep short-term…
Gold Slides to Five-Month Low on Strong Jobs Numbers
In our last market analysis, we noted that gold continued to struggle. After bottoming at around $1170-$1180 in June, the metal rallied to retest resistance levels of $1350 in late October. Since this peak, gold has slid back to the low-mid $1200 range on a variety of factors, the most notable being jobs and Fed…
Growth Continues With November Job Report
The economy has seen a jolt for the second straight month as employers added 203,000 jobs in November. Unemployment dropped .3 percent to 7 percent, which is the lowest its been since 2008. Economists predicted November to add 180,000 jobs and for the labor market to fall just .1 percent, so statistics were better than…
Fed Says Tapering Could Happen ‘In Coming Months’
Highlighting the FOMC’s October meeting was talk about quantitative easing, which comes as no surprise. What may come as a surprise is that policy makers were pondering a date in which to begin tapering from its current $85 billion monthly rate, meaning tapering could happen sooner rather than later. Nine of 10 Fed members voted…
Yellen Talks Gold at Senate Hearing
Fed Chair nominee Janet Yellen spoke briefly about gold prices today during the Q&A session with the Senate at her confirmation hearing. After the opening statements and answering questions regarding employment, quantitative easing and the monetary policy, Senator Dean Heller of Nevada asked Yellen if she knows why gold prices fluctuate and if the economy…
