Precious Metals Lower on Corrective, Profit-Taking Pullback

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Los Angeles, CA – The precious metals markets took a corrective pull-back on Monday on investor profit taking and carry over selling from late last week. Gold traded approximately $20.00 lower around $1720 an ounce while silver traded down $0.24 to $33.50 an ounce Monday morning. As gold made the largest rally in 7 weeks, a predictable profit taking was made on the yellow metals’ solid gains. Monday marked an investor “risk off” trading day as many waited for fresh news Read More

Gold Surges on US Debt Deadline, Credit Downgrade Talks

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Los Angeles, CA – With U.S. politicians at a stalemate over the 14.3 trillion dollar deficit just days before the debt default deadline, economists and financial analysts alike are predicting a downgrade of the United States' credit rating. President Obama made comment that U.S. lawmakers' indecision to raise the debt ceiling is a “dangerous game” and such indecision would cause a “deep economic crisis”. Many economists have voiced the same concern in that Read More

Converting to Gold IRAs to Preserve Wealth

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The market prices of gold, silver and platinum are affected primarily by global supply and demand. In the past year, supply has been declining and demand has been increasing, resulting in a steady upward trend in the market prices. Today, the price of gold, the commodity most used for new IRAs, has been hovering around $1,540.00/ounce. Just one year back, it was around $1,161.60/ounce. It’s easy to see that those who purchased gold in June, 2010 have realized a substantial profit of Read More