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PRECIOUS METALS REPORT: November 15, 2024 (Ready For Rebound?)
Happy Friday everyone!
It’s time again for our weekly PRECIOUS METALS REPORT courtesy of my friend Ira Bershatsky.
As always, my standard disclaimer: Not personalized financial advice, but this is the quality of insight and macro analysis that people pay big money for…and thanks to Ira, I’m pleased to be able to share it was all of you.
Are we in for a big tumble in the stock market soon?
I warned about that earlier today:
BEARISH: Stock Market Flashing Major Warning Signs — Here’s Why
And now Ira Bershatsky is following up on a similar theme in this week's Precious Metals Update:
Wow! What a week again! That deserves repeating. Wow! What a week again!
As my customers know, I attempt to be balanced in my thoughts on the metals both positive and negative. This week both gold and silver went below their 50-day moving averages and continue to be well above their 200-day moving averages. These moving averages are what the large money managers and hedge funds look at for their overall trend analysis.
Weighing on the metals this week was an increase in the US Dollar, which has a negative correlation to metals and former FED policy maker and former head of the Cleveland Federal Reserve Bank, Loretta Mester, saying on Tuesday that the market is right that there will not be as many FED interest rate cuts next year based on President Trump’s proposed tariffs.
On Wednesday, the Consumer Price Index (CPI) came in + .2 % in October in line with expectations with an annual rate of 2.6%. The core CPI number which excludes food and energy was up .3% at an annual rate of 3.3% all above the FED’s 2% inflation target. The CPI numbers are beginning to trend up from this summer’s lows.
On Thursday, the Producer Price Index (PPI) came in at +.2% in October in line with expectations with an annual rate of 2.4%. The core PPI number which excludes food and energy was up .3% at an annual rate of 3.1% all above the FED’s 2% inflation target. In the afternoon party pooper Powell said that the FED is in no rush to lower interest rates. That lowered the stock indices and gold and silver.
The metals have rebounded with gold recouping almost all of that drop and silver having recouped that drop and has moved higher.
Thursday saw the crypto prices decline having a moderating effect on metals prices. The stock indices have now had three declining days in a row with the potential for lower prices today. Are metals prices ready for a rebound from, in my opinion, the overreaction to the downside? (I believe so!)
Until next time...
As always, I can't tell you what to do and I certainly can't provide personalized financial advice for anyone.
But as for me personally?
I sleep better at night knowing I own Gold, Silver and Crypto (especially Bitcoin and XRP).
Focusing just on Gold and Silver, it's important to have a trusted dealer you work with.
I know many of you are already familiar with Ira Bershatsky, but for those who don't know him, you can find Ira and his company, Advisor Metals, over at WLT Precious Metals.
I have personally sent family members to Ira for 5-figure purchases of Gold and Silver and he treated them like royalty. They were very pleased.
That's how much I trust Ira.
No one has a crystal ball for the markets, but I trust Ira's ethics and morals and customer service implicitly. I always hear glowing reviews!
I didn't tell him I was sending them over either (and these particular family members have a different last name) so I did it as a bit of a "secret shopper" test and Ira passed with flying colors.
Of course I knew he would.
That's why I work with him and that's why I have confidence telling you about him.
Ira can handle bulk purchases of bullion, coins, whatever you want.
All custom ordered and shipped right to your door.
A lot of people love Bullion because its the cheapest and most economical way to do it, to stretch your dollar into as much gold and silver as possible.
The website is called WLT Precious Metals and when you see my logo in the top left-hand corner, you'll know you're in the right place.
You'll get a personal phone call with Ira Bershatsky (or someone on his team) and they will work with you free of charge for as long as needed to answer any questions you have and get you taken care of.
How about that!
You don't see that much anymore, but Ira and his team pride themselves on good old-fashioned real customers service:
No sales pitch, just real, actual help.
And the best prices you will find.
Here's the only disclaimer I will give you: because they do pride themselves on dedicated service, it might take a few days before you get a phone call back. Just be patient.
Good things come to those who wait!
You can contact Ira and WLT Precious Metals here.
Ira can also help you if you want to purchase Gold and Silver in your IRA.
I mean, his name is Ira, after all, OF COURSE he can help you purchase in your IRA account.
The thing I love about purchasing in your IRA account is you can do it with no money out of pocket. You just take money already in the IRA account, perhaps in stocks or bonds or other investments, and you can shift it into Gold and Silver.
Again, I'm not your personalized financial advisor, I'm just explaining how it works.
And it's REALLY cool.
So even if you're saying times are tough right now, I don't have a lot of spare money to shift into Gold and Silver, you might have a golden opportunity (pun intended!) already sitting there in an established retirement account.
I'll be back next Friday with another Precious Metals Report update from Ira.
Until then....
Noah out.
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