• Precious Metals Market Update From Advisor Metals For 6/21/24

    June 23, 2024
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    Yahoo! Finance has a lead article this morning from their senior columnist Rick Newman (he is no fan of Donald Trump) titled “The Smart Money is Preparing for Trumpflation”. His article is based on reports from Goldman Sachs, Moody’s Analytics, and Oxford Economics that Trump’s economic policies, if elected, will lead to higher inflation. I wholeheartedly disagree with this viewpoint. The part I agree with is that Goldman Sachs said that if investors are worried about this inflation to buy gold.

    This morning’s flash Purchasing Manger’s Index readings for the manufacturing sector and the services sector both came in stronger than expected which is weighing on the metals prices. The Conference Board this morning said that May’s Leading Economic Index decreased .5 percent in May and has declined two percent over the last six months. A potential recession indicator. A great opportunity to buy metals on this morning’s dip in prices.

    As of yesterday’s closing prices, gold and silver are both holding above their 50-day moving averages. This moving average is one indicator money managers and active traders use for their investment decisions.

    CONTACT ADVISOR METALS HERE TO PROTECT YOUR PORTFOLIO!

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