← Back to All Videos

A-Mark’s Bullion Update

Blog Sep 26, 2014

A-Mark-Precious-Metals-IncYesterday, US New Home Sales came in at 504k on an annualized basis, much higher than the expectation of 432k.   It was the highest level of homes sales in the month of August in more than six years and on an annualized basis represented an 18% increase.  This all spelled good news for the USD in the overnight session while the precious metals took a hit.  The USD has now extended a four year high with improving economic data fueling speculation that the Federal Reserve is moving closer to raising interest rates.

Gold traded down to $1,205 overnight before speculative traders and physical buyers in Asia came in to lift it off its lows.  Gold gained further legs in the NY session as equities sold off swiftly.  A report that Russian lawmakers, in response to sanctions, may draft legislation that would allow them to seize foreign assets weighed on US equities.  The Dow Jones is currently down 240 points (1.40%) and the inverse correlation it has had with gold of late allowed for the yellow metal to move up past $1,220.  Silver hasn’t been able to move into positive territory like gold has today and support remains at $17.

Secure Your Future With Gold & Silver

Access expert advice and transparent pricing—backed by decades of leadership in retirement protection.
Schedule Strategy Call

Sources & References In This Article

Tags

Tags: , ,

Similar Posts

Blog Jun 2, 2025

$100 Billion ‘Ghost Field’ Discovery Could Power America for 30,000 Years

Learn More
Blog May 19, 2025

ECB Sounds Alarm on Gold Surge – Fears Will Trigger Financial Collapse

Learn More
Blog May 14, 2025

The Economic ‘Storm’ Will Get Worse: Is the U.S. Headed for a Radical Reset?

Learn More
Blog May 5, 2025

Will U.S. Basel III Unleash Gold? BIS’ New Reset Plan

Learn More
Blog Apr 30, 2025

China ‘In a Panic’ to Start War, The U.S. is Preparing : Gordon Chang

Learn More
Blog Apr 29, 2025

O’Leary: Mark Carney Faces ‘Hell of a Time’ Fixing Trudeau’s Economy, Sees Early Election

Learn More
Blog Apr 28, 2025

No Gold? You’re Doomed In The Reset War

Learn More
Blog Apr 25, 2025

Fed’s Desperate Bid to Stop Gold Price – Why it Will Backfire

Learn More