Close X Cookies are necessary for the proper functioning of 24hGold.com. By continuing your navigation on our website, you are accepting the use of cookies.
To learn more about cookies ...
EnglishFrench

Fed statement lends support to metals

IMG Auteur
 
Published : May 03rd, 2013
300 words - Reading time : 0 - 1 minutes
( 1 vote, 5/5 ) , 1 commentary
Print article
  Article Comments Comment this article Rating All Articles  
0
Send
1
comment
Our Newsletter...

24hGold - Fed statement lends ...Things have cooled off in the gold and silver markets, with the former trading in a range between $1,450 and $1,480, and silver moving between $23 and $24. Both metals sold off early in New York futures trading yesterday, but rebounded following the release of Fed minutes indicating that the Fed will consider increasing its money printing efforts upon any signs of renewed weakness in the US economy.

Of course, as the last four years have shown, it’s one thing increasing the monetary base (that portion of the money supply that increases as a direct result of Fed asset purchases), but quite another thing to guarantee that this new money will flow into the broader economy. With banks continuing to sit on huge excess reserve holdings at the Fed, Bernanke is not getting much bang for his quantitative easing “buck”.

In fact, despite the initiation of open-ended asset purchases last September, as Robert Wenzel notes at his blog, the rate of growth in the M2 money stock – the broadest measure produced by the Fed – has declined from the growth seen in 2011 and in late 2012. A rebound – as seen last summer – is of course possible, but further declines would sharply increase the chance of another serious leg down in the US economy.

Strong demand for coins and bars continues to attract media attention, with US Mint sales of gold coins at three-year highs, and reports from Australia of lines of customers 600-yards long outside of bullion dealers. In other news, the state of Arizona has become the second state – following on from a similar Utah law in 2011 – to make gold and silver legal tender in the state, with effect from mid-2014. A dozen other states are said to be considering similar laws.

Thanks to Goldmoney from www.goldmoney.com
Companies Mentionned : Bullion | Metals X |
Data and Statistics for these countries : Australia | All
Gold and Silver Prices for these countries : Australia | All
<< Previous article
Rate : Average :5 (1 vote)
>> Next article
Latest comment posted for this article
Be the first to comment
Add your comment
Top articles
Latest Comments
Why we should abandon the State
28 Julovertheedge
What a gigantic pile of horse excrement. Cherry pick everything that has gone wrong. Completely discount the hard fact that the author and ...
Iran Agreement Boosts Peace, Def...
26 Julkeith95
How about the US invading Afghanistan in 2001, Iraq in 2003 ... leading to the current unrest in the middle east while supporting the 'Saudi's' ......
Take Possession of IRA Metals We...
24 Julericgolub
Internal Revenue Code 4975 language suggests that whether the gold is held directly by the IRA or by an IRA LLC (which is nonetheless still subject...
Gold Miners Nearing Rebound
24 Julsonora69
Silver has already made a 50 cent down and up round trip as of 3:30. This is happening on a Friday, with the stock markets failing to make an advan...
Why Pensions Are A (Big) Black Swan
25 JulS W.1
No (pensions) are not a black swan, which is totally random unforeseen event.
Iran Agreement Boosts Peace, Def...
23 Julsonora69-2
Doesn't anyone remember the Iran hostage crisis, when Iran held 52 American diplomats and citizens hostage for 444 days in 1979-1981. How about 198...
What Do Greece and Louisiana Hav...
23 Julovertheedge
"The US financial system isn’t any better. ... , Actual currency is just a little over $1.36 trillion. ..." And it is assumed that about h...
Why Are We Here?
23 Julovertheedge1
No "woe is me" here. Just another buying opportunity. Using leverage is not buying, it is borrowing. It ain't bought til it's paid off....
Most commented articlesFavoritesMore...
World PM Newsflow
ALL
GOLD
SILVER
PGM & DIAMONDS
OIL & GAS
OTHER METALS
Mining Company News
Taseko(Au-Cu-Mo)TKO.TO
and Soda Creek Indian Band Sign Participation and Cooperation Agreement
CA$ 0.66+11.86%Trend Power :
Corporate news
Tinka Resources(Ag)TK.V
commences 10,000 metre drill program at Ayawilca zinc project, announces new IP results & tar
CA$ 0.17+9.68%Trend Power :
Corporate news
Sandstorm Gold(Cu-Mo-Au)SSL.V
Files Early Warning Report
CA$ 3.15+4.65%Trend Power :
Corporate news
Crown PointCWV.V
Provides Operational Update and Announces Executive Change
CA$ 0.14+3.85%Trend Power :
Corporate news
Cardero Res.(Ag-Au-Cu)CDU.TO
Announces Acquisition of the Advanced Zonia Copper Oxide Project in Arizona
CA$ 0.01-50.00%Trend Power :
Corporate news
Vista Gold(Cu-Le-Zn)VGZ.TO
. Announces Receipt of an Additional A$5.9 Million Net Tax Refund Under the Australian Govern
CA$ 0.34-6.94%Trend Power :
Corporate news
First Majestic(Le-Zn-Au)FR.TO
announces friendly acquisition of Silvercrest Mines
CA$ 4.12+2.49%Trend Power :
Corporate news
Sterling Res.(Oil)SLG.V
Announces Appointment of Strategic Financial Adviser
CA$ 0.18+9.37%Trend Power :
Nominations
Polaris MineralsPLS.TO
Materials announces the opening of its aggregate terminal in the Port of Long Beach, Californ
CA$ 1.98-8.76%Trend Power :
Corporate news
Endeavour Financial(Ag-Au-Co)EDV.TO
Mining to release Q2 results on July 30, 2015
CA$ 0.48+3.19%Trend Power :
Corporate news
Comments closed
  All Favorites Best Rated  
A appreciate separation from bullion and ETF paper promises. If I can hold it in my hands it is really mine!
Rate :   0  3Rating :   -3
EmailPermalink