As we approach the end of 2023, the year has proven less tumultuous and more subdued for gold, which remained relatively flat for a significant part of the period. Despite this, we’ve consistently emphasized the importance of patience to investors, acknowledging the market’s resilience in maintaining crucial support levels even amid the Federal Reserve’s assertive rate hikes.
The reward for this patience has finally manifested, showcasing the true brilliance of gold. Following a record monthly close in November, the precious metal has achieved new all-time highs, with February futures concluding the week around $2,090 per ounce. The week concluded with a robust gain of over 4%.
Gold’s ascent has been propelled by market expectations of a potential rate cut as early as March. At the beginning of the week, the likelihood of a rate cut by the end of the first quarter of 2024 was roughly 25%. By the weekend, these expectations surged to 52.5%.
Interestingly, the market seems to have tuned out the central bank, despite Fed Chair Powell’s clear communication that interest rates will remain stable for the foreseeable future. Axel Merk, President and Chief Investment Officer at Merk Investments, contextualized the current market environment. He highlighted that despite the Federal Reserve’s tough rhetoric, the economy is slowing down, signaling the central bank’s conclusion of interest rate hikes. Merk added that even if the worst-case scenario unfolds with slightly prolonged higher interest rates, the next move would inevitably be a cut.
“The market is always forward-looking, so we don’t actually need the Fed to start cutting rates for gold to move. There just needs to be the perception that it will happen,” Merk emphasized. “People are buying gold because they believe the downward pressure on rates is coming.”
While gold takes the spotlight, silver should not be overlooked. Silver prices have reached their highest levels since July, with March silver futures closing the week at $25.895 per ounce. Although silver may be trailing gold slightly leading into the weekend, it has been playing catch-up throughout most of November.
The gold/silver ratio currently hovers around 81 points, its lowest since mid-August. Analysts suggest that a rally in silver would signal the sustainability of higher gold prices.
Optimism surrounds silver as the market witnesses record industrial demand. Analysts point out that silver remains relatively inexpensive compared to gold, with the ratio still exceeding the historical average range between 50 and 60 points.
TD Securities is notably bullish on silver, projecting prices to reach $26 per ounce by the second quarter of the next year.
While gold and silver investors have reason to celebrate this weekend, it’s essential to note that the market appears somewhat overstretched, leaving room for potential selling pressure in the upcoming week.
Article generated from corporate media reports.
Why One Survival Food Company Shines Above the Rest
Let’s be real. “Prepper Food” or “Survival Food” is generally awful. The vast majority of companies that push their cans, bags, or buckets desperately hope that their customers never try them and stick them in the closet or pantry instead. Why? Because if the first time they try them is after the crap hits the fan, they’ll be too shaken to call and complain about the quality.
It’s true. Most long-term storage food is made with the cheapest possible ingredients with limited taste and even less nutritional value. This is why they tout calories so much. Sure, they provide calories but does anyone really want to go into the apocalypse with food their family can’t stand?
This is what prompted the Llewellyns to launch Heaven’s Harvest. They bought survival food from multiple companies and determined they couldn’t imagine being stuck in an extended emergency with such low-quality food. They quickly discovered that freeze drying food for long-term storage doesn’t have to mean sacrificing flavor, consistency, or nutrition.
Their ingredients are all-American. In fact, they’re locally sourced and all-natural! This allows their products to be the highest quality on the market, so good that their customers often break open a bag in a pinch to eat because they want to, not just because they have to due to an emergency.
At Heaven’s Harvest, their only focus is amazing food. They don’t sell bugout bags, solar chargers, or multitools. They have one mission – feeding Americans in times of crisis.
What they DO offer is the ability for people to thrive in times of greatest need. On top of long-term storage food, they offer seeds to help Americans for the truly long-term. They want them to grow their own food if possible which is why they offer only Heirloom, Non-GMO, Non-Hybrid, Open-Pollinated seeds so their customers can build permanent food security on their own property.
Visit the Heaven’s Harvest website and use promo code “Patriot” for a discount today!
