Slow September Start for Silver, Gold

Precious metals gold and silver suffered severe setbacks during Tuesday morning’s trading session before recovering slightly in the late afternoon. As of 6pm CST the gold spot price had settled in the $1,265-$1,270 per ounce range after making a mild comeback from the morning’s $25 per ounce loss. Silver gained $0.03 on Tuesday evening after falling by more than a quarter of a dollar earlier in the day. Silver is currently trading at $19.23 per ounce.

Charts of silver and gold prices have looked like  Six Flags roller coaster during most of the last two years. Both metals fell in dramatic fashion in April and June of last year, before fluctuating wildly for the rest of 2013. 2014 started off on a bullish note for silver and gold, but lately data and profit-taking have held gold and silver back. Gold is down 2.16% in the last 30 days, while silver is down 5.74% in the same time.

Gold and silver prices are also down substantially over the last 365 days, falling 9% and 20%, respectively. Analysts have said repeatedly that until the U.S. Federal reserve raises interest rates both metals could lay low. Interest rates are a favorite topic of gold investors because during the last gold bull cycle of 19670 to 1980 gold and silver went up 1000% and 1200%, respectively, thanks to incessantly rising interest rates and a lax monetary policy that threatened to ruin the dollar’s solvency.

Many gold investors today believe that the United States has entered into a long-term inflationary cycle that can only be stopped by returning to a gold standard. This is a very controversial topic, one that is discussed in great detail in our award-winning investing guides. For a free portfolio evaluation or to receive free gold and silver investing guides in the mail or via e-book, call our toll-free Help Desk at 800-394-3337 now.

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