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Gold and Silver Update November 15th 2023

PGS (Ploutos Gold and Silver LLC) witnessed fluctuations in gold prices due to recent inflation data. On Wednesday, gold surged to a one-week high as the dollar and Treasury yields weakened post the inflation report. The yellow metal saw a dip due to profit-taking but regained ground following the morning’s inflation report, only to experience a subsequent shallow dip prompted by further profit-taking.

October saw wholesale prices declining significantly, marking the largest drop in 3½ years. The producer price index (PPI), which gauges final-demand costs for businesses, decreased by 0.5% for the month, surpassing the anticipated 0.1% decline. On an annual basis, the headline PPI rose by 1.3%, down from September’s 2.2%, as reported by the Labor Department on Wednesday.

In October, the core consumer price index, excluding volatile food and energy prices, fell below expectations, leading to a nearly 500-point surge in the Dow Jones Industrial Average. This unexpected report prompted traders to reassess their bets on the likelihood of the Fed increasing interest rates in December.

Typically, interest rate hikes are viewed as bearish for gold, reducing its appeal compared to other assets. Conversely, a pause or reduction in interest rates would be favorable for the yellow metal’s prospects.

Front-month gold futures settled at $1,966.50 an ounce on Comex, marking a 0.8% rise on Tuesday, while the December contract gained 1.5% during the initial two days of the week. October saw a 6.9% gain in bullion after declines of 5.1% in September and 2.2% in August. Year-to-date, gold is up by 7.7%, with the December contract currently priced at $1,965.90, a slight decrease of $0.60 (-0.03%) an ounce, while the PGS spot price stands at $1,958.40.

In October, the U.S. core CPI increased by 0.2% from the previous month and by 4% from the previous year, slightly below economists’ estimates of 0.3% and 4.1% respectively. Although this annual level marks a two-year low, it still exceeds the Fed’s 2% target. Consequently, the dollar index dropped to its lowest level in over two months, making gold a more appealing investment for holders of other currencies.

According to the CME FedWatch Tool, approximately 99.8% of investors predict the Fed will maintain its federal funds rate in mid-December, while only 0.2% anticipate a 25 basis points rate hike. This is a notable shift from the previous day’s figures of 85.5% and 14.5% respectively.

Since March 2022, the Fed has raised interest rates by 5.25 percentage points to rein in inflation to the 2% level. Earlier this month, the Fed opted to keep interest rates unchanged at 5.25% to 5.50%, having raised rates only once since May.

Front-month silver futures settled at $23.13 an ounce on Comex, reflecting a 3.5% increase on Tuesday, while the December contract rallied by 3.8% in the initial two days of the week. Silver saw a 2.2% increase last month after declines of 9.5% in September and 0.6% in August. Year-to-date, it’s down by 3.8%, with the December contract currently priced at $23.400, marking an increase of $0.268 (+1.16%) an ounce, while the PGS spot price stands at $23.28.

For more information or assistance with gold and silver purchases, visit Ploutos Gold and Silver LLC at or contact us at 617-564-1630. You can also reach us via our Facebook page: Feel free to schedule an in-store appointment at our address: 912 Crescent Street, Brockton, MA 02302.

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

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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.

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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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