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Two economic reports this week that were both positive for the metals.
On Monday, the Conference Board released their Consumer Confidence number for December and it dropped 8.1 points to 104.7 which is a three-month low. Usually means a slowing economy.
On Thursday, initial jobless claims dropped by 1,000 to a four-week low of 219,000. However, the continuous claims number which is people receiving benefits climbed by 46,000 to 1.91 million. This is the highest number since 2018 omitting the pandemic. Indicating slow hiring.
Gold and silver seem to be consolidating at these price levels. Rising Treasury yields putting a damper on the upward price movement from earlier in the week.
More banks and brokerages have raised their price estimates for gold for 2025 to $2,900 an ounce or higher. I believe in the “higher”. I have seen forecasts of silver being forecast to reach $40 an ounce in 2025.
Go to our website for a free gold and silver guide, for more information, or to contact me about making a purchase. www.advisormetals.com [email protected] 626 788 5770.
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