The President recently signed a budget agreement spanning two years, which will “suspend the debt limit until March 15, 2017.” How to combat the debt ceiling has been a recurring event for the last few years with many different remedies suggested to solve the ongoing issue. However, one suggestion, in particular, has peaked the interest…
Silver Coin Demand Continues to Surge
Silver has been on almost everyone’s mind. Since July, the U.S. Mint has been placing quotas on silver coins—like the American Silver Eagle. This increase in investor interest continues today and the influx is not just affecting the U.S. Mint. The Royal Canadian Mint and Australia’s Perth Mint have also had to take measures to…
Gold Buyers See Low Prices Thanks to Rumors of Rate Hike
Gold hit its low this summer—mid-July and into August. Here at Provident Metals, we – along with retailers nationwide – can attest to the increase in sales as investors and collectors leapt at the chance to purchase precious metals hitting 5-year lows. These low prices primarily occurred because traders feared a federal funds rate increase…
Inflation Soars in the Second Quarter, Yet the Fed Doesn’t Seem Concerned. Should You Be?
The rate of inflation — as measured by the Federal Reserve’s preferred price index — rose to its highest annual rate in three years during the second quarter, hinting that the United States economic recovery could prove more challenging than anticipated. During the April-June period, the PCE index surged to 2.3 percent, compared to 1.4…
Fed Chair Janet Yellen Can’t Make Up Her Mind
Gold futures fell three sessions in a row after Federal Reserve Chairwoman Janet Yellen’s semi-annual testimony last Tuesday, July 15. Overall, Yellen’s comments to the United States Senate were “dovish” in nature, warning against spiking interest rates on the back of sooner-than-expected employment gains. “If the labor market continues to improve more quickly than anticipated…
Gold, Silver Drop with Fed Announcement
Wednesday the Federal Reserve announced plans to continue drawing down their bond-buying activity, triggering a drop in precious metals markets, with gold closing at 1,341.30 per ounce and silver at $20.83 per ounce. The Fed has long intimated that leaders feel the economy is sufficiently improved that the organization no longer needs to prop up…
