Here are the latest news items and commentary on current economics news, market trends, stocks, investing opportunities, and the precious metals markets. In this column, JWR also covers hedges, derivatives, and various obscura. This column emphasizes JWR’s “tangibles heavy” investing strategy and contrarian perspective. Today, we look at some rumored ammunition price increases. (See the Tangibles Investing section.)
Precious Metals:
The big swings in the precious metals markets are continuing. After hitting an all-time last week, spot gold took a dive back into the high $1,980s range, on profit-taking. When I checked on Wednesday morning, spot gold had recovered to $2,020 per Troy ounce and silver was at $23.45. The silver-to-gold ratio has also seen big swings. As of Wednesday, it stood at 86.1-to-1. So we are approaching another good juncture to ratio trade out of gold into silver, if you have the vault space for the bulkier metal. In my estimation, a 90-to-1 ratio should be your “make the switch” signal.
I must also mention that platinum and palladium are presently also looking undervalued. However, the difficulty with those white metals for physical investors is that the dealers’ premiums are quite high. Paying $1,188 for a 1-ounce Platinum American Liberty — containing $938 worth of platinum — seems painful. – JWR
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Radomski, at Gold-Eagle.com: The Clearest, Biggest, and Most Important Reversal in Gold.
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Here’s why silver is stalling; Can it break out in 2024?
Economy & Finance:
Signs of the times: Dollar General to open 800 stores in 2024; Q3 tops Street.
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Reader H.L. spotted this: Jeep employees learn of mass layoffs just over one month after UAW strike ends.
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Hasbro Lays Off 20% Of Company On Plunging Toy Sales.
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At Zero Hedge: The Markets Are Front-Running The First Rate-Cut.