Inflation in the Precious Metal Market
PASADENA, CA, UNITED STATES, August 31, 2021 /EINPresswire.com/ -- You don't have to be an economist to realize that prices are going up. In 2021, Americans are at a once-in-a-generation moment in their economic history. People are emerging from lockdowns and long stays in isolation in a mood to buy things of all descriptions.
The April Consumer Price Index came out at a surprising 4.3% instead of the 2% many economists expected. Market commentators expressed concern. Then the May Consumer Price Index came out at 5.2%, and the annualized Consumer Price Index for June was over 11%.
People who own precious metals see, pardon the pun, a silver lining in this situation. Gold prices were up 18.83% in 2019 and 24.43% in 2020. We don't know where gold prices will end up by December 2021, but growth in gold prices has outpaced pandemic inflation. On July 31, 2021, silver prices were up 62.63% over two years earlier. And palladium could have been bought at its lowest in 2019 for $1,198.80 per ounce and sold for as much as $2,981.40 per ounce in 2021. That's a 148.68% increase.
Precious metals have been a store of value for over 6,000 years. The idea gold will somehow lose its intrinsic value in our lives or even our children's lifetimes is a ridiculous concept. “Gold and Silver survived every major currency collapse in all of human history, and currency collapses happen once every 50 years on average,” a Gold Safe Exchange representative explained.
Precious metals have inherent value. People across cultures and throughout history have valued gold and silver as objects of value.
Silver also has industrial value. It is a critical component in electronics. Emerging technologies require it. The industrial demand for silver puts a floor beneath its price.
Palladium has even greater industrial value, plus strategic value. Palladium is essential for catalytic converters. And because Russia is a major supplier, the availability of palladium on the open market does not always meet demand.
Gold Safe Exchange is ready to answer your questions about acquiring precious metals. Call them at (800) 341-6727 today about setting up your account.
The April Consumer Price Index came out at a surprising 4.3% instead of the 2% many economists expected. Market commentators expressed concern. Then the May Consumer Price Index came out at 5.2%, and the annualized Consumer Price Index for June was over 11%.
People who own precious metals see, pardon the pun, a silver lining in this situation. Gold prices were up 18.83% in 2019 and 24.43% in 2020. We don't know where gold prices will end up by December 2021, but growth in gold prices has outpaced pandemic inflation. On July 31, 2021, silver prices were up 62.63% over two years earlier. And palladium could have been bought at its lowest in 2019 for $1,198.80 per ounce and sold for as much as $2,981.40 per ounce in 2021. That's a 148.68% increase.
Precious metals have been a store of value for over 6,000 years. The idea gold will somehow lose its intrinsic value in our lives or even our children's lifetimes is a ridiculous concept. “Gold and Silver survived every major currency collapse in all of human history, and currency collapses happen once every 50 years on average,” a Gold Safe Exchange representative explained.
Precious metals have inherent value. People across cultures and throughout history have valued gold and silver as objects of value.
Silver also has industrial value. It is a critical component in electronics. Emerging technologies require it. The industrial demand for silver puts a floor beneath its price.
Palladium has even greater industrial value, plus strategic value. Palladium is essential for catalytic converters. And because Russia is a major supplier, the availability of palladium on the open market does not always meet demand.
Gold Safe Exchange is ready to answer your questions about acquiring precious metals. Call them at (800) 341-6727 today about setting up your account.
Caroline Hunter
Web Presence, LLC
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