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Precious Metal Market Update: Ploutos Gold and Silver (PGS) Maintains Steady Course

In the dynamic world of precious metals, Ploutos Gold and Silver (PGS) remains a consistent force to reckon with. As we venture into this week’s market trends, it’s evident that PGS is navigating through challenges with resilience, just like gold and silver themselves.

Gold’s Resilience Amidst Dollar and Treasury Pressure

Gold prices have held steady near one-week lows despite facing headwinds from a stronger dollar and rising Treasury yields. In Tuesday’s session, the yellow metal experienced its most significant intraday decline in a month. The strengthening of the dollar and Treasury bonds was driven by growing speculation that the Federal Reserve might maintain high-interest rates in the foreseeable future.

Front-month gold futures witnessed a 0.7% drop on Tuesday, settling at $1,952.60 per ounce on Comex. However, it’s worth noting that the December contract had a 1.4% gain last week, demonstrating the market’s volatility. Bullion saw a 2.2% dip in August after a 4.1% rise in July and a 2.7% loss in June. So far in 2023, gold has seen a 6.9% increase. Currently, the December contract is down 0.2% at $1,952.40 per ounce, with the PGS spot price resting at $1,922.90.

Notably, holdings in the SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, experienced a 0.1% decline, according to Reuters.

The release of the U.S. jobs report for August showed that nonfarm payrolls exceeded expectations with a gain of 187,000 jobs. However, the unemployment rate rose to 3.8%, the highest since February 2022. Labor market data and inflation figures play a pivotal role in the Federal Reserve’s decision-making process regarding monetary policy. The Fed’s preferred inflation gauge, the personal consumption expenditures price index, also indicated a slowdown in inflation.

Fed Governor Christopher Waller expressed optimism about the recent economic data, stating that it enables the Fed to proceed with caution. The Fed has raised rates by 5.25 percentage points since March 2022, and the majority of investors are anticipating the Fed to maintain the federal funds rate at 5.25% to 5.50% this month, with only a small percentage expecting a 25 basis point increase. Similar expectations are held for November and December, though with slimmer margins.

Economic observers are eagerly awaiting the Fed’s Beige Book report on economic conditions, which is scheduled for release on Wednesday. Additionally, Thursday will bring U.S. weekly initial jobless claims and a series of remarks from Fed officials, while Friday will see the release of wholesale inventories data and consumer credit data for July.

Silver, Palladium, and Platinum Updates

Silver, like gold, faced challenges in August but experienced gains in July. Front-month silver futures recorded a 2.8% loss on Tuesday, settling at $23.87 per ounce on Comex. The December contract slipped 0.1% last week and is currently down 1.27% at $23.570 per ounce, with the PGS spot price at $23.34. So far in 2023, silver has seen a 0.7% decrease.

Spot palladium exhibited stability last week but faced a 0.6% drop on Tuesday, with prices at $1,233.00 per ounce. Over the course of 2023, palladium has experienced a significant decline of 32%. The PGS spot price is currently at $1,210.00, down $17.00 per ounce.

Lastly, spot platinum had a challenging day on Tuesday, dropping by 3.4% to $937.00 per ounce. Despite this setback, it gained 2% last week. Platinum’s journey in 2023 has been marked by a 12% decline, with the current PGS spot price down $12.40 per ounce at $923.10.

As we navigate through the complex world of precious metals, PGS remains a reliable name in this ever-evolving market. Stay tuned for further updates and insights on the precious metal landscape with Ploutos Gold and Silver.

Michael BarrowMichael Barrow
19:58 23 May 23
Great products and working with Ploutos is a real pleasure,wish other businesses were as friendly and easy to deal with. I would recommend them any time and i will be ordering more products
Austin HAustin H
17:55 24 Apr 23
Nikos was so professional! He helped me with great recommendations and I couldn't be happier with the products.Thanks Nikos!!
jonathan ortizjonathan ortiz
00:18 22 Apr 23
For any first time customer I highly recommend Ploutos gold and silver. Niko is well knowledgeable about his products and helped answer all of my questions and concerns.
Joshua KelleherJoshua Kelleher
22:39 19 Apr 23
Niko is fantastic. Bought some maples, krugerrands, and cook island silver 1 ounce coins which were amazing. When I picked them up they were straight from the mint. Everything was in pristine condition. Given the high demand lately it took a couple weeks for everything to come in, but it was well worth the wait. Prices were fair and Niko is a great guy to talk to. I would recommend this place to anyone looking to buy physical bullion.
Brian BaragaBrian Baraga
09:22 06 Apr 23
I recently made several orders online and everything was delivered in a very short time. The owner of the business was extremely helpful in finding items I was interested in and was able to fulfill my request.
John PicardJohn Picard
04:25 08 Feb 23
Bought a couple of times now from Niko. His prices are the lowest and most fair. He works very hard to get you the product that you want and cares about customer satisfaction. You can feel confident buying from Niko.
Dave GuerraDave Guerra
21:10 16 Jan 23
Love this guy. Niko was so willing to help me even off hours. I would send him a text about a certain item, and he would call me back promptly to see how he could help me out. Niko has been the best my wife and I have ever work with. Please everyone do your business with ploutos Gold and Silver. If he doesn’t have what you’re looking for,He will get it.
George TiglianidisGeorge Tiglianidis
02:07 01 Nov 22
I’ve always wanted to purchase precious metals and wanting to support a localbusiness a friend recommended Ploutos.I placed my first order with Niko last December of 2021 as a stocking stuffer for my kids. My order was placed online and just a few days later my order had arrived, nicely packaged with a bow!I caught the itch and months later I wanted to make another purchase. This time it was a bigger order of silver rounds, the price was competitive and because I’m not to far, Niko hand delivered my order the very next day!His prices are competitive and his customer service is top notch.If you have any questions, Niko knows his stuff.Since I’ve done business with Niko and Ploutos, I have recommended his services to a few other friends and they all agree that Ploutos is legit.If you have any hesitation, a phone call with Niko will put your mind at ease.

Why Choose Precious Metals from Ploutos Gold and Silver?

Ploutos Gold and Silver, a reputable name in the industry, empathizes with the aspirations of Gold and Silver enthusiasts. Our journey is intertwined with yours and every customer we welcome, as we extend our personal insights along with a wealth of resources to empower you in your own research endeavors.

While Precious Metals hold the potential to enhance a diversified portfolio, Ploutos Gold and Silver acknowledges that this investment might not resonate with everyone. It transcends the realm of mere numbers on paper – Gold and Silver embody a tangible value that stands resilient against the test of time. Unlike the turbulence of stock markets, their value isn't swayed solely by global financial dynamics; myriad factors contribute to their pricing. Gold and Silver investments often pass down through generations, embracing the enduring value they uphold.

Explore Gold and Silver Prices

When crafting an investment strategy for purchasing gold and silver, the role of prices is pivotal. Relying on a reputable source is of paramount importance. Ploutos Gold and Silver emerges as your steadfast hub for accurate Gold and Silver pricing. It's intriguing to note that many other prominent online bullion companies display discrepancies of up to $20 in their gold spot prices.

Visit our website's header for real-time updates on Gold and Silver pricing. Ploutos Gold and Silver provides transparent pricing data for Gold and Silver, available 24/7.

What factors influence Gold and Silver prices? It encompasses current events, market speculations, currency dynamics, supply and demand. Amidst these variables, the intrinsic worth of Precious Metals remains unwavering.

Explore Silver Brittania coins or American Gold Eagles, a testament to the endorsement of the United States government. Embark on this journey with Ploutos Gold and Silver, where you receive discreetly shipped and insured Gold and Silver at your doorstep.

Witness our reviews firsthand and discover why individuals relish purchasing from a family-owned bullion company. Some even liken us to your Local Coin Shop that you needn't drive to! With Ploutos Gold and Silver, your path to acquiring Precious Metals is seamless and secure. Acquire your preferred Gold and Silver treasures 24/7 through our online portal.

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