Gold surged to a new all-time record high today, with the most active April contract currently fixed at $2958.40, or 1.02% after factoring in net gain of $29.70. Dollar weakness was by far the largest contributor to gains in gold. The dollar index is currently fixed at 106.95, after factoring in today’s decline of 0.84%. Because gold is paired against the dollar when we subtract percentage gain in the dollar (0.84%) from today’s gain in gold (1.02%) traders accounted for only 0.18% of today’s record close.
Although it was dollar weakness that was the primary force moving gold higher, dollar weakness was the direct result of two factors; concern about tariffs, and January’s Producer Price Index report. Concern continues to grow following Trump’s, announcement to impose reciprocal tariffs on countries taxing US imports.
Today the government released the PPI index for January, revealing that producer prices increased 0.4% in January. Yesterday, the U.S. Bureau of Labor Statistics’ released Januarys Consumer Price Index (CPI) report. That report revealed that inflation increased by 0.5%, surpassing both December’s 0.4% rise and the
consensus forecast of 0.3%.
According to Reuters News, “U.S. producer prices increased solidly in January, offering more evidence inflation was picking up again and strengthening financial market views that the Federal Reserve would not be cutting interest rates before the second half of the year.”
Technical Analysis Reveals Rare Pattern
A remarkable technical pattern has emerged in gold’s price action: seven consecutive weekly gains, represented by bullish (green) candlesticks beginning December 30. This rare occurrence has only one historical precedent in recent gold trading history, observed during the summer of 2011. […]
— Read More: www.kitco.com
At Last, a Company With Integrity in the Gold IRA Industry
For several years, I’ve been vetting out precious metals companies in search of the best. I believe in gold and silver but it’s hard to find integrity in the Gold IRA industry. The vast majority operate with shady tactics and gigantic spreads that take advantage of Americans who simply want to protect their life’s savings.
I’ve found a handful that I like and I’ve worked with some of them. By no means would I “unrecommend” them because, again, I vetted them out and found them to be above the fold. Unfortunately, it isn’t hard to be better than the rest when the rest are so darn awful.
After years of searching, I finally found a company that truly operates with integrity. Augusta Precious Metals has three important attributes that set them far above the competition:
- Non-Commissioned Sales Team: I cannot stress how important and unique this is. With just about every other company in the Gold IRA industry, the sales teams make commission from every account they open. This means they steer their clients toward the gold and silver products with the highest commission. With Augusta Precious Metals, the team is solely focused on putting the best gold and silver for their clients into their IRA. They get paid to serve the best interests of the Gold IRA client, NOT their own commission pay.
- Incredibly Low Fees: Most Americans would be shocked if they knew the spread other Gold IRA companies charge. Augusta charges just 5% versus up to 45% elsewhere.
- No Pressure, No Gimmicks: There’s an understanding among most in the Gold IRA industry that fear and pressure is the way to go. Augusta Precious Metals takes a sober approach when working with clients because they hold integrity in the highest possible regard. This is why they don’t offer gimmicks like “free” or “bonus” silver. It’s also why they do not apply pressure tactics to get quick sales. Their educational and transparent approach to doing business is exceedingly rare in the Gold IRA industry.
