Advisor Metals Precious Metals Market Update for December 13, 2024

This week’s mantra, as I advocate every week, is to buy on the dip when the opportunity occurs. That opportunity has occurred over these last two days.

After a significant run up in price this week, recouping the decline of the last month, precious metals prices have taken a breather. The long-term trend continues to be positive with both gold and silver above their upward sloping 200-day moving averages. This is the moving average the big players use for a trend.

Economic Reports This Week

The Consumer Price Index (CPI) was released on Wednesday and showed an increase for November of .3% and an annual rate of 2.7%. This is for the non-core reading. The core reading which excludes the volatile food and energy components was up .3% from October at an annual rate of 3.3%. Significantly above the FED’s 2% inflation target.

The Producer Price Index (PPI) was released on Thursday and showed an increase for November of .3% and an annual rate of 3%, the largest 12 month increase since February 2023. The core reading which excludes the volatile food and energy components was up .1% from October and at an annual rate of 3.5%. Consumer prices reflect producer prices later on.

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