Daily Gold & Silver Market Report – 11/17/2016
APMEX
11/17/2016 8:14:00 AM
THE UNCERTAINTY OF PRECIOUS METALS
It’s evident that a lot is going to be changing in the U.S. but the big question is what is going to change for the Precious Metals industry? Peter Coy from the Bloomberg Business Week says that one of the biggest obstacles for the new President isn’t politics but instead, money. With all of the recent promises made by President-Elect Trump such as tax cuts, producing better trade deals, building walls, repealing/replacing Obamacare, opening more land for drilling and mining, and much more, what exactly does that mean for businesses? Furthermore, what does that mean for money in general? James Athey, an investment manager at Aberdeen Asset Management said, “It’s very difficult to know even what he intends to do” referring to D. Trump. So how does that apply to the Metals industry you ask? Diversify your money, invest in Gold and Silver! View Gold coin prices and Silver prices charts.
WHAT’S HAPPENING TO SILVER?
Although the market saw Copper rally 11 percent last week, the Gold plunge is starting to expand to the Silver market. In the last two days, prices have dropped approximately 10 percent, which, according to Eddie Van Der Walt with Bloomberg Markets, is the most in the past three years! Known as the devil’s metal due to its sporadic market movements, many question when is the best time to not only buy, but also sell the metal. In addition to that, what is the point of even purchasing something that is so irregular? There are actually multiple reasons as to why you should invest in Silver; for starters, as an inflation hedge, for survival purposes such as bartering, or a simple investment. Moral of the story here is that buying something with movement is exactly what you want!
SO YOU WANT TO INVEST IN PRECIOUS METALS
First things first, do your research; investing in the Precious Metals industry can be tricky. Precious Metals are different from stocks and bonds, and risky at that, but with high risk comes high reward. Petar Kolev states that “…if you’re prepared, and if you know exactly what you’re doing, then you’ll never be in the dark. You’ll know how to play the game. You’ll know what to do with your assets so that you don’t lose the money you’ve worked so hard on.” Of course it’s a gamble, but isn’t everything in life? Kolev said, “Learn all about mining companies and how they work, learn about ETFs, Precious Metals future, bullion, and coins vs rounds and bars, etc. The more you know, the better.” The point here is to understand what you’re getting into, and let time do the talking.
Site: http://www.personalincome.org/truth-behind-silver-investing/
At 9:14 A.M. (ET), the APMEX Precious Metals spot prices were:
- Gold, $1,229.00 Up $2.40
- Silver, $17.05 Up $0.04
- Platinum, $941.70 Down $5.80
- Palladium, $726.00 Up $3.20
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APMEX Market Reports provide our readers with a review of spot price activity and some of the factors that may be affecting the market for Precious Metals. While the information is obtained from sources we believe to be reliable, we do not guarantee its accuracy or its completeness and we encourage you to conduct your own investigation prior to making any decision based on the information. The Market Reports are not intended as a comprehensive discussion and there may be other factors affecting the financial marketplace. These Market Reports are provided for informational purposes only and do not constitute a recommendation by APMEX to hold, purchase or sell any Precious Metal product. All orders, purchases and sales, if any, are subject to the terms of the User Agreement and other applicable policies
