Archive for the Silver Prices Category
Rising 5% in March 2014, the U.S. Labor Department reports this current spike in the cost of certain goods for consumers. Most retail businesses have struggled, as of late, to raise prices because so many Americans are still out of work and paychecks haven’t gone up much. Stocks have been taking punches lately as big banks like J.P. Morgan, the nation’s largest bank, report quarterly earnings down 20%, while other banks, i.e. Wells Fargo, have surged up 14% with fewer bad loans decisions. Investment banking and mortgages are still the sectors of fiscal concern domestically. Internationally, the concerns over any G7 involvement in Ukrainian affairs have even pushed gold bearish speculators to the point of not having a bear position in place. Presently, the market is a tough call for next week, please refer to the Kitco weekly survey predictions in the image provided. Many analysts offer the opinions about the trend on gold next week, but few are willing to put anything on the table in the form of a guarantee. Stock losers pulling out of gold to cover losses will soften gold’s potential to climb amid the world’s turbulence, i.e. Russia, G7, Ukraine, flight 370, Turkey, Syria, North Korea, Venezuela, and the current inflation strain on the U.S. middle class. Considering all of these factors and a world which historically adheres to, “murphy’s law”, the long-term outlook for gold appears increasingly expensive. Now, just may be the time to buy gold or silver before the purchasing power of the dollar declines.
Increasing, increasingly, and more ever increasable can the gap widen between the haves and the have nots. Domestically and internationally the taste of capitalism, especially in China, is very persuasive in fostering peoples desire to obtain more while retaining their current lifestyle. However, contractions in the marketplace are bound to affect people’s buying decisions and consequently alter a nation or states’ gross income (GDP), which then could spill out onto the world stage. One point of concern for the world at large is Japan’s national Consumer Price Index (CPI) which rose at it’s fastest pace in 22 years this April, surging 2.7% from the previous year! This type of inflation looks poised to continue traveling skywards while the buying power of the first world consumer is diminishing. Additionally, a five percent increase in just one month, March, on such goods as food, clothing, and jewellery, is happening right here and now in the United States! Additionally, The New York Times reported this week, the American middle class is no longer the world’s most affluent. We are at a crossroads as a nation and as a world culture, due to the widening monetary gap placing too many undesirable consequences in the way of consumers’ everyday spending decisions. Although, we may be limited in what we can do to change the overall predicament facing each global buyer. We here at Fort Myers Gold Exchange feel that any type of price increase puts an extra strain on the average consumer looking to purchase our fine goods at discounted wholesale prices. We stand resolute that FMGE will not increase our prices on the general consumer anytime in the foreseeable future! Allowing more buying power to reside with our customers will not only help move more goods, but will also sustain one’s wealth amidst the current inflammatory economic pressures, not only by holding a precious limitable commodity, like silver or gold, but also enjoying the commodity as you wear it.
Please do check us out, because we will always continue to offer wholesale deals to our savvy shoppers, both online and in-store, but also to our numerous nationwide jewelry retailers who stop by to stock up with us and to cash-in their scrap gold for the highest cash price. We may not have the Google glass on sale for $1500 this month, but we sure do have a wide selection of new and previously enjoyed jewelry, antiques, coins, and from just about anything to everything of value. Stop in and see us, as we continually have newly acquired unique items on hand to peruse and purchase.
Buyers, come see and pick precious items even before they get placed online!
Sellers, we are always willing to help you discover, for free, the worth of your items and continually look forward to offering each customer an unbeatable cash offer for your precious items!
Thank you all for your continued patronage and support!
-The F.M.G.E. Family
“May God bless and keep you always,
May your wishes all come true,
May you always do for others
And let others do for you.
May you build a ladder to the stars
And climb on every rung,
May you stay forever young,” -Robert Zimmerman a.k.a. Bob Dylan
Hello World! Welcome to Ft Myers Gold Exchange new blog on our newly designed website. We’re really excited to be able to bring you into the FMGE world with this blog. We’ve blogged about gold and silver trends in the past with modest accuracy, however, our last blog we pinned the tail on the donkey by showing that pressure was building for precious metals, i.e. Gold and Silver, to make a bullish run in this current fragile financial marketplace. As I am writing this sentence gold is up to $1347.30 an ounce and silver is up to $22.72 an ounce on Kitco. Gold is back on the one way street heading for the historic price of $2000/oz., it is just a matter of time because there is no place else for gold prices to go, but up.
India is now trading in more diamonds than before because they passed a law not allowing their citizens to trade in gold. The diamond market especially melee, small diamonds, are poised to move in price more now than ever. Historically, diamonds have always been a great investment to keep or move some of your wealth, because it is the only controlled commodity in the history of the world. Now with India and other countries soon to follow their lead, diamond trading and prices are going to fluctuate more than the industry has allowed up to this point. ABN AMRO Bank N.V. in Amsterdam and the De Beers vault in the Antwerp Diamond Bank control the amount of rough diamonds placed in the hands of their cutters around the globe each year. Limiting the amount of gem diamonds placed in circulation each year they can manage the price of this jewelry commodity. The Russian Popigai asteroid crater in Siberia is now thought to have over a trillion carats of raw diamonds! Thankfully, these impact diamonds are considered only for industrial uses and not as jewelry gemstones due to their fragmentation upon impact. Still out there in space are whole asteroids and planets even within our Milky Way that are thought to be totally comprised of diamond. A diamond planet in our own solar system is a striking thought but consider the impact on the market if one of these carbon bodies were to be rope tied and harvested, brought to earth and placed on an “open” market. Needless to say I’m not in favor of anyone at this point in time investing a large portion of their portfolio into the valuable rock for the points stated above. Unless they can get into the rock right or the right rock for the occasion. Come See Us!