Breaking News from America's #1 Precious Metals Dealer

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Money Metals News Alert

December 16th, 2024 Gold and silver prices got whacked Thursday and Friday, losing all the gains made earlier in the week. The S&P 500 also finished the week lower, as did bonds.

The dollar strengthened on the DXY index.

Investor demand for safe haven assets remains muted following the election. Bitcoin and cryptocurrencies are roaring.

The FOMC meets this week and another interest rate cut is expected.

It is currently more of a buyer???s market than bullion investors have seen in years. Inventories are plentiful and premiums have come way down in recent months.

1 Oz Silver Eagles (Christmas Assay) [link removed] " style="max-width: 186px; display:block;"> [link removed]

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Friday's Close
(Weekly Gain/Loss)

Monday Morning
(Gain/Loss from Friday's Close)

Gold [link removed]

$2,660 (+0.5%) [link removed]

$2,665 (+0.2%) [link removed]

Silver [link removed]

$30.76 (-1.4%) [link removed]

$30.72 (-0.1%) [link removed]

Platinum [link removed]

$944 (unch) [link removed]

$954 (+1.0%) [link removed]

Palladium [link removed]

$994 (unch) [link removed]

$986 (-0.8%) [link removed]

Gold : Silver Ratio (as of Friday's closing prices) 86.5 to 1

The Pros and Cons of Depository Storage For You Metal

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Depository storage for precious metals isn???t for everyone, but, then, neither is storing metals at home. Especially in larger amounts.

The choice is more complicated than it might look at first glance. It isn???t as simple as determining if the advantage of more physical security is worth the cost and giving up personal possession.

Here are some of the less obvious considerations when deciding whether secure storage for your bullion investment makes sense

Insurance is a good place to start. Getting coverage at home is difficult in smaller amounts. It is all but impossible in larger amounts (often $50,000.00 or more). Home insurance is also getting more expensive.

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Nothing placed in a bank safe-deposit box, including precious metal, is insured.

The total fee storage at Money Metals Depository [link removed] is currently $490/year for a holding valued at $100,000 that???s less than half of one percent. (And storing $16,000 worth costs just $96 a year).

This fee includes ???all-risks??? insurance coverage for the full value. Investors trying to insure the metal at home are likely to pay more for a ???valuables??? rider and get about half the coverage.

The logistics around shipping and receiving metal can also be a factor. Those who plan to hold the metal a long time and have the wherewithal to handle it, as well as the space to store it, don???t have to worry much.

However, investors who plan to trade will want to think about the cost of shipping and insuring the metal they sell. Those making a larger silver investment need to think carefully about the weight and the space required.

Money Metals Depository [link removed] clients do not have to handle the metal at all, and there is no cost to ship, either when they buy or sell, at Money Metals.

A $100,000.00 purchase in silver amounts to about 3,000 ozs at current prices. It will arrive in 6 boxes, roughly the size of a shoe box and weighing about 40 lbs each. This is more than a lot of home safes can accommodate and more than some people will be able to carry comfortably.

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Investors should also give their ability to secure the metal at home a realistic assessment. How many contractors or kids??? friends will see the home safe? Are home burglaries a problem in the neighborhood? Is the home unoccupied for long stretches of time?

Burglary, including a home invasion, is a risk. Just ask mining expert Jeff Clark [link removed] .

Secure storage does mean giving up the control that comes with personal possession, and that is a serious consideration. Due diligence is important and no firm is automatically entitled to your trust.

Hundreds of clients at First State Depository in Delaware found out that $112 million of their metal was missing. The owner was prosecuted for fraud. Not only was the metal gone, but the insurance coverage was inadequate.

Anyone considering storage should ask the depository for proof of insurance coverage and independent third party audits.

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They should then keep an eye out for the common red flags [link removed] about which Money Metals??? constantly warns, especially long delays in getting metal shipped.

To be clear, Money Metals believes just about everyone should have at least some of their gold and silver in their direct personal possession. But storage via a trusted partner like Money Metals Depository can be a highly convenient, inexpensive, and secure way to go.

It all depends on your comfort level and your particular circumstances. For more information, visit this page [link removed] .

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Potential Market-Moving News This Week

Tuesday, December 17th Retail Sales . Economists are expecting a tick higher in November retail sales. Sales gained 0.4% in October and the consensus for November is 0.6%.

Wednesday, December 18th FOMC Rate Decision. The Fed began cutting rates in September, despite inflation remaining above target levels and strong employment data from the Bureau of Labor Statistics. Lately researchers have begun asking questions about the quality of government data especially the jobs reports.

Friday, December 20th Personal Incomes and Spending . Once again, forecasters predict income growth will lag behind spending growth. Inflation isn???t having the impact on wages that it does on the cost of living.

This week's Market Update was authored by Money Metals Director Clint Siegner.

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This copyrighted material may not be republished without express permission. Offer only available through email promotion. Offer does not apply to previous orders and may not be combined with any other offer or program. Special shipping rates or other restrictions may apply to international orders. The information presented here is for general educational purposes only. Money Metals Exchange and its staff do not act as personal investment advisors. Nor do we advocate the purchase or sale of any regulated security listed on any exchange for any specific individual. While our track record is excellent, investment markets have inherent risks and there can be no assurance of future profits. You are responsible for your investment decisions, and they should be made in consultation with your own advisors. By purchasing from Money Metals, you understand our company is not responsible for any losses caused by your investment decisions, nor do we have any claim to any market gains you may enjoy. Money Metals Exchange is not a regulated trading ???exchange??? as defined by the CFTC and the SEC.

Money Metals Exchange
PO Box 2599
Eagle, ID 83616

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