← Back to All Videos

A-Mark’s Bullion Update

Blog Dec 17, 2014

A-Mark-Precious-Metals-IncWith the ruble depreciating 50% this year, the Russian central bank decided overnight to raise its benchmark interest rate by an astonishing 6.5%.  The currency crisis threatening Russia’s economy “forced” the central bank to increase rates from 10.50% to 17%.  The ruble initially made gains off the news but ended up reversing course and slid below all time lows against the USD.   There was also a headline out this morning that Russia is deploying nuclear weapons to be held next to the Ukrainian border.

The combination of developments out of Russia has the financial world uneasy.  US equities sold off while gold was tugged in both directions and traded in a $35 range.  Bids materialized in gold immediately after the Russian nuclear deployment headline but selling emerged later in the session with crude oil losing 3.25% on the day.  Support for gold is coming in at $1,182 and firm resistance is in place at the 100 day moving average of $1,232.  Silver has fallen 7% over the past two trading days but found intraday support at $15.50.  The 50 day moving average at $16.57 was the high of today and this should prove to be near term resistance for the remainder of the week.

Sources & References In This Article

Similar Posts

Blog May 21, 2024

How Currencies Collapse, Part 3: The Dangerous Rise of U.S. Debt

Learn More
Blog May 2, 2024

“WORST NIGHTMARE” Stagflation Back With Vengeance, More Bank Failures, Yen Plunge & USD Devaluation

Learn More
Blog Jan 3, 2024

The Great Taking: Understanding the Shift in Global Debt | A Deep Dive into Financial Collateral

Learn More
Blog Dec 19, 2023

Is the U.S. Dollar in Crisis? Exploring Currency Markets, Inflation, and Bank Downgrades

Learn More
Blog Dec 8, 2023

From Treasury Outflows to Inflation and Consumer Anxiety, how far will it go?

Learn More
Blog Dec 8, 2023

Your Safety Is Not Their Concern

Learn More
Blog Sep 29, 2022

What’s Driving Energy Prices Up? Will the Crisis be worse than the 1970s?

Learn More
Blog Sep 15, 2022

Underneath the Surface: Recession or DEPRESSION?

Learn More

Not Sure What Works for You?

Our team has over a century of combined experience in guiding our customers to the best products is for their wealth protection and preservation goals. Call us today.

or schedule a call

Schedule A Strategy Session

Get Your Free Protection Guide

Stay Informed

Receive the latest updates regarding the economy.