Park Avenue Numismatics
5084 Biscayne Blvd, Suite 105
Miami, FL 33137
Toll Free: 888-419-7136
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5.25.22 - The Great Resignation looks set to continue
Gold last traded at $1,852 an ounce. Silver at $21.95 an ounce.
News Summary: Precious metal prices pulled back Wednesday after four-day streak of gains as traders braced for the release of Fed minutes. U.S. stocks climbed despite the fact that Treasury yields were on the downswing.
Degussa/Kitco--"The gold market continues to struggle to make material gains above $1,800 an ounce. Still, the precious metal remains cheap as investors continue to miss-price risk in the marketplace, according to one market analyst.
In his latest market commentary, Thorsten Polleit, chief economist of Degussa, said that both gold and silver are relatively cheap as investors ignore the growing risk that the Federal Reserve will push the U.S. economy into a recession as it raises interest rates....
However, he added that the U.S. central bank is walking a very narrow path, which has been made difficult because of massive government debt worldwide. Polleit noted that global debt levels represented 351% of global GDP.
'The risk that something could go wrong is enormous, especially given record levels of global debt,' he said.
Even if the Federal Reserve can avoid pushing the economy into a recession, Polleit said there is still potential for gold and silver once investors realize that inflation will remain elevated longer than expected."