GMRgold’s Precious Metals Week in Review
Week Ending November 13, 2022

A week full of news, reports and events turned out to be the catalyst Gold has been waiting on to show some signs of life coming out of a summer of slumber. Monday was lack luster in trading for the yellow metal with low volume and an $11.00 loss. Tuesday morning, election day, Gold wasted no time in vaulting straight up $42.00 seemingly on the long reported Red Wave occurring by all media sources. By midnight it was becoming clearer that the House of Representatives was lost to Republican control and that the Red Wave was more like a ripple as the Senate was still in play.

On Thursday, with no significant news, Gold continued the climb, after the short breather on Thursday, rising $47.00 more dollars.  Yawning at the Jobs Report on Friday, Gold closed the week of trading at $1,771.00, a 5% increase after the alarm clock.Precious Metals One way to make people love paying $4.50 for a gallon of gasoline, is to sell it to them for $6.00 for six months. The way to claim victory out of a lost election, is to convince people that the loss is going to be massive, then celebrate the seeming tiny loss. Silver stepped back from its independent performance and followed Gold lockstep in trading for the week. Opening at $20.85 and closing at $21.71 Silver continued its impressive run with 4% gain for the week. Silver stands the most gain as it is the more undersold and has fallen further behind in the physical premium than Gold has. It may be too soon to start counting chickens, but it sure looks like something may be ready to hatch.

The world has been upside down for nearly 3 years and the direction for that period and what is to come has been largely uncertain. Perhaps a look back can help with the future.  

 

               11/13/2021               11/13/2022                 YTD
DJIA        36,100.31                    33,536.70         Down      9%     
S&P 500   4,682.85                      3,957.25          Down     18%  
Bitcoin      57,834.36                   16,826.00        Down   350%
Gold          1,859.70                       1,771.72           Down       4%
Silver         24.83                            22.01                   Down     12%

The headline assets have been trending downward and making headlines as they do.  The Precious Metals have held their own quietly as they always do and are trending up.  It is always a good time to own Precious Metals in a portfolio.  Sometimes are better than others.

Protect Your Portfolio

If you are looking for a safe investment that will hold its value even in times of high inflation, precious metals may be the answer for you. Check out our FREE eBook to learn more about using precious metals as a hedge against inflation. Our team at GMRgold can help you get started with your investments and provide guidance along the way.

GMRgold was created to serve as a safe and stable diversification partner when buying, selling, and trading gold, silver, platinum, and palladium. Let us advise you on new products, portfolio diversification, IRA and 401(k) options, valuation of your collection, and other matters related to the precious metals market. Call us today at 877-795-9585 or fill out our online contact form to learn more about our solid solutions using precious metals to diversify your portfolio.

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