Sep 26, 2019
Today's spot gold price is $1507.20
Today's spot silver price is $18.07
Platinum $932.85
and Palladium $1,644.50
By the time you are listening to this update I'm sure the prices
will be different
Yesterday Gold appeared to be on a rocket ship ride. Today it
appears to be in a bit of a free fall down about $25
Despite the breathless voices quoting the ups and downs of precious
metals prices, we should remember why you invest in the precious
metals. Their strength is they are a store of value.
If you look at the historical performance it paints a picture
of enduring and rising value.
The 7-day performance is up about $20
The 6-month performance of gold is up about $200
The 1-year performance of gold is up about $300
The 5-year performance of gold is up about $300
The 31-year performance of gold is up about $1100.
Just to reinforce the idea gold is a store of value you don't
have to look any further than the central banks. The 21 central
banks in the Basel III agreement raised gold from a Tier 3 asset to
a Tier 1 asset. Which means they can loan 100% of the value of gold
as opposed to lesser securities they hold like mortgages, etc where
they can only loan about half the value. Central banks know what
the real stores of value are and are preparing for what is ahead in
terms of the rocky financial world and rocky political
conditions.
Central Banks have become buyers of gold rather than sellers. The
21 Central Banks decided not to renew the CBGH or Central Bank Gold
Agreement which governed Central Bank selling of gold because
they aren't selling gold anymore.
We'll explore the Central Bank Gold Agreement and what it
means for you as a precious metals investor in more detail in next
week's precious metals investing update brought to you by
preciousmetalsinvesting.com.
PreciousMetalsInvesting.com brings you tips from precious metals
experts like David Morgan author of Silver Manifesto and Second
Chance, Paul Mladjenovic author of Precious Metals Investing
for Dummies and Stock Investing for Dummies, Charlie Nedoss of
LaSalle Futures Group, Randy Smallwood CEO of Wheaton Precious
Metals Corporation, Richard Mayberry author of the US and
World Early Warning Report and the Uncle Eric series of books
offering Financial advice to young people, Ted Sudol of
PreciousMetalsInvesting.com and author of Affiliate Marketing for
Dummies and many more.
Stay well and feel secure with your precious metals
investments. Talk to you again next week.