Updated 9-23– Gold prices are higher in early a.m. trading Wednesday after two days of profit taking.
Gold last reported a.m. is $1130.90. Silver is still holding gains and is currently at $14.89.
U.S.stocks are trading moderately higher today after the dollar steadies behind Monday and Tuesday’s gains.
According to the National Association of Realtors, existing home sales fell 4.8 percent in August after gaining for three consecutive months.
According to NAR chief economist, Lawrence Yun, “Sales activity was down in many parts of the country last month – especially in the South and West – as the persistent summer theme of tight inventory levels likely deterred some buyers.”The good news for the housing market is that price appreciation the last two months has started to moderate from the unhealthier rate of growth seen earlier this year.”
Typically,home sales drop in September as families have already moved by August before the start of the new school year.
Russia’s central bank is reporting that its gold reserves rose to 42.2 million ounces as of September 1 compared to 41.1 million ounces a month earlier.
International Monetary Fund data shows Russia is now the seventh biggest holder of gold reserves after the U.S, Germany, the IMF, Italy and France and the rising gold power China. Russia has more than tripled its reserves since 2005 and holds the most gold bars since at least 1993.
Silver premiums continue rising but the metal remains available below production costs. We are offering special pricing on the 1 oz. Australian Silver Kangaroo while limited supplies last.
Silver is also eligible for a precious metals IRA. Give us a call at 1-800-577-3195 Ext. #1 to begin the process of protecting a portion of your assets.
Gold Goliath is not your typical gold dealer.