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Cache Metals is a full service gold & silver bullion dealer servicing clients throughout New York, California, Toronto, Chicago, Houston, Florida, Dallas & Philadelphia. Our Services Include: Buy and sell gold, silver, platinum and palladium coins and bullion Multiple delivery and... More
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Daily Precious Metals Newsletter
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Cache Metals Guide to Precious Metals Ownership
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  • Gold And Silver Prices In The News

    Gold has climbed 10% since December 2013, read and watch some Gold & Silver price reports from online news sources.

    Three warning signs from higher gold prices: MarketWatch

    Expect further upside in gold, silver prices: Economic Times

    Cache Metals, Canada's Gold & Silver Specialist

    Feb 26 4:30 PM | Link | Comment!
  • Buying Gold & Silver - Week Opening - March 18th

    Trouble in the Eurozone has reared its ugly head. Traders were sellers of the euro dollar as flight to gold was on the table as Cyprus is considering a tax on bank deposits to pay for a bailout.

    Spot gold finally surpassed the $1600 level as traders dumped equities in favour of the yellow metal. The European Union declared that Cyprus must levy 5.8 billion euros from citizens' bank accounts to contribute to the 17-billion-euro banking bailout this news took investors by surprise. On Friday, President Nicos Anastasiades proposed a plan which would see lawmakers impose a 6.75 per cent tax on all bank deposits for accounts with under 100,000 euros in assets. Accounts with more than €100,000 would see a 9.9 per cent tax. Monday was a bank holiday in Cyprus the timing of announcement was tailored to allow Cypriots time to digest, but this wasn't the case as Cypriots spent the weekend withdrawing funds at bank machines throughout the country. This type of contagion could spread through all of Europe as now other countries are fearful that the EU could impose similar sanctions.

    "This is nothing short of astounding. This is the news of the year to date economically and the repercussions of this decision are going to reverberate for days, weeks, months and years into the future. The very nature of banking has been shaken to its roots with this decision, for banking depends upon the trust that bank officials will always treat deposit as sacrosanct. Trust runs to the very core of money and banking and trust has now been shattered, torn asunder, broken and destroyed." Said Dennis Gartman of the Gartman letter

    will see how this whole episode shakes out but as it stands now the Euro dollar against all major currencies is being aggressively sold. With this latest development gold should become well bid if a resolution isn't reached by week's end.
    In the U.S it will be a busy week for data as first up was the NAHB Housing Market index, the index fell to its lowest reading since October 2012 of 44 from 46 last month, coming well under the predicted rise to 48.This data continues the theme of an increasingly negative outlook for the US housing market. Due up tomorrow is New Home Sales and Existing Home Sales on Thursday. The Federal Open Market Committee is due to deliver an update on monetary policy and also economic forecasts due Tuesday and Wednesday. The central bank is expected to hold the line on interest rates and its quantitative easing programs but market participants will most certainly dissect the Fed statement for hints on futures monetary policies. Thursday as brings the Weekly Jobless claims and whether it can continue to show improvements in the labour force.

    Spot silver has underwhelmed on the bullish Cyprus news as traders have focused on flight to safety. The dual role metal seems to be trading like a commodity again as with a flat Dow Jones Industrial average the metal remains subdued. Silver traded to a modest high of $29.08 mostly trading unchanged on the day.

    Buy Silver Online

    Buy Gold Online

    Mar 19 2:58 PM | Link | Comment!
  • Gold & Silver Precious Metals Report
    Spot gold continued its advance which started on Monday, the yellow metal broke to a 2 week high of $1685 and the heels of mixed U.S data and technical buying.

    Yesterday afternoon saw US Federal Reserve Chairman down play the rampant speculation of an early end to the bond buying program. Ben Bernanke mitigated the concerns that aggressive bond‐buying program will lead to higher inflation. Bernanke also gave a warning that a premature interest hike at this point would do more harm than good since the U.S economy is just begging to show signs of recovery.

    Ratings agency Fitch gave lawmakers a stern warning regarding the wrangling on the debt ceiling...."If we have a repeat of the August 2011 debt ceiling crisis we will place the U.S. rating under review. There will be a material risk of the U.S rating coming down"

    US President Barack Obama has urged Congress to increase the debt ceiling and avoid the situation that was faced in 2011. President Obama reiterated that a failure to act could bring "turbulence" to the financial markets. Investors have been heeded the words uttered by President Obama by showing they are unwilling to hold equities. The major stepping stone on the debt ceiling issue is Republicans are demanding that spending cuts be made before they approve the ability of the US Treasury to pay the country's bills.

    Spot silver has trended very nicely since hitting a low last week of $29.24. Dual role metal has strengthen both on the precious metal side and industrial metals side as demands picks up as stimulus in Japan will help support the markets and recovering economies in the US and China help the outlook for future needs. The metal has had a technical break out and further gains are in the cards.

    Spot gold has had a technical break out above $1675, if the metal can hold and close above this level expect more gains in the cards as the bulls have averted a crisis. The metal major resistance for the yellow metal is $1695which is the price we hit in at the beginning of the year. With that being said, if there is a swift deal regarding the debt ceiling expect the metals to trade lower on the heels of the news.

    Buy Silver Online

    Buy Gold Online

    Cache Metals is Toronto Based Gold & Silver Bullion Dealer.

    Jan 15 9:19 PM | Link | Comment!
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