A major driving force behind gold and silver’s multi-year rally is the printing of money by central banks around the world. Since 2008, literally trillions of new dollars (currency) have been created in the hopes of resuscitating the besieged stock and housing markets. This inflation has placed upward pressure on gold and silver. In 2008…
Silver: Nowhere Near Its Peak
In the perpetual battle of silver bull vs. bear, some say the bear has the upper hand. At least for right now. Many analysts and investors point to silver’s April 2011 surge to nearly $50—and the subsequent correction—as proof that silver’s long, secular bull market, which began in 2002, is officially over. Some naysayers even…
Gold Tumbles as Fiscal Cliff Talks Stall
In the days leading up to the Christmas holiday, gold and silver have tumbled, in part due to news that the fiscal cliff negotiations between the White House and Congress have stalled, 3rd quarter GDP was higher than expected and many institutional investors of gold took some year-end profits. The big story though remains the…
Happy Thanksgiving from Provident Metals!!
We wanted to take a moment and wish all of our valued readers and customers a Happy Thanksgiving!! Each year, we celebrate this wonderful holiday with family and friends, giving thanks for all of the joys and good things in our lives. Whether you’re traveling or staying home, be safe and enjoy your time with…
Gold Run Continues as Fiscal Cliff Nears
The U.S. Presidential Election is over – thank goodness – our attention is now fixed on what’s known as, “the fiscal cliff.” A little background on what the phrase fiscal cliff means. In the summer of 2011, the U.S. government had approached the borrowing limit, a boundary known as the debt ceiling. At that time,…
Despite Losing Some Gains, Gold and Silver Hold On Strong
As we head into the final quarter of 2012, it’s time to take stock of what’s going on in the gold and silver markets. In the third quarter—August and September specifically—both metals saw tremendous gains from their summer lows. At the beginning of the third quarter (July 1), gold hovered around the $1600/oz mark for…
