Metals Minute 145: Pipeline, Markets, and Metals Explosion

The metals are moving back up this morning, following an announcement by the Bank of England to intervene in the Gilt market (British Treasury securities). Pension funds were facing implosion in light of margin calls related to downward moving markets. Many suspect the Federal Reserve might not be far behind to reverse course.

While moving higher this morning, they were down across the board for the week. Gold is off 1.8% to $1,653, silver is down 5.8% to $18.71, platinum is off 8.1% to $872, and palladium is down 3.6% to $2,162.

Since a year ago today, gold is down 4.6%, silver is down 16.8%, platinum is down 10.3%, while palladium bucks the trend, up 14.6%.

The world is on edge this morning, with speculation surrounding the explosion of the Nordstream pipeline. Americans in Russia are being urged to leave immediately, in light of the possibilities for expanded conflict in the region, and to avoid being conscripted into Russian service.

Good investment returns are not only about selling at higher prices but also about buying at lower prices. Platinum, gold, and silver are currently on sale and set to outperform in the years ahead.