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Welcome to our November Newsletter and Precious Metals Report. Our Precious Metals Report comes to you from our USA based commodities expert, Edward Meir. Edward Meir - AusMint's commodities expert
Edward has been in the commodities business for about 30 years in various capacities. Edward started his career in commodities with Drexel Burnham Lambert as a commodity futures research analyst and since then has provided research services to Trans-World Metals, MF Global and now with INTL FCStone. Mr Meir is based on New York and joined the Australia Mint Bullion & Coin team in May 2012. Edward will be responsible for contributing news articles, personal views and updates, and the monthly Precious Metals Report. Please check out the November Precious Metals Report by clicking this link or go to our website at www.ausmint.com Precious Metals performance in October to early NovemberThe major factor implicating the price of Gold and Silver has been the re-election of President Barack Obama and the perceived implications on the US economy. What is the US 'Fiscal Cliff' issue? This is a series of tax increases and spending cuts that kick in on 1st January 2013. If nothing is done the cliff could result in $7 trillion worth of tax increases and spending cuts over 10 years and US$670 billion immediately. The immediate impact would be a negative GDP growth rate, or in other words, a Recession! If, as expected a compromise is reached where the tax increases and/or spending cuts are minimised, the result will be a further increase in US debt (currently $16+ trillion). Even though a Recession will likely be avioded by further easing (of the QE3 program), by printing more money, based on the past trends we would expect to see the price of Gold continue to increase. Whilst Edward is bullish on Gold, he does suggest that a fiscal cliff deal could provide a short term rally of both equity markets and the US dollar, possibly denting Golds upward trend. He views that such setbacks will be temporary and therefore an opportunity to look to buy on the dips.
Edward's predictions for November: Gold: An eventual push to US$1,790 with good support at US$1,670 and US$1,650, both attractive entry points. Silver: Prices taking a stab at the US$34.30 mark over the next few weeks with good support around US$30.30.
Storage as important as a buy/sell decision No matter the size of your precious metals investment the question of storage and security should be carefully considered. How much does it cost? Is your investment fully insured? Are your physical holdings under official audit review and control? This is why we have chosen to partner with Westpac to offer secure and insured storage at Westpac's vault and safety deposit box facility at 341 George St, Sydney. Qualifying Members receive these services for free for the first year from the date of their investment. AusMint Member benefits
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Charts & Price TrendsAs a VIP Member you get access to our Charting Section of the website where you can specify your own parameters of interest to chart. Please check out this link for some Chart examples that you may find interesting. They include: Gold over the last 3 months: Growth US$1,610 to US$1,725 (+7% in 3 months) Silver over last 3 months: Growth US$28 to US$32.70 (+17% in 3 months) Gold over last 2 years: Growth US$1,350 to US$1,725 (+28% in 2 years) Silver over last 2 years: Growth US$26 to US$32.70 (+26% in 2 years) ASX All Ords over last 2 years: Decline 4,570 to 4,400 (-7% in 2 years)
Please logon to the Member Zone of www.ausmint.com to select your own charting parameters. You may well find some interesting trends that help you in your investment decisions.
There continues to be a lot going on that will influence the price of gold and other precious metals in the coming weeks. Watch this space! Please note our Disclaimer on our website and in the Precious Metals Report. |
