![Metals Minute 177: Golden Opportunity](https://mgi.usgoldbureau.com/media/amasty/blog/cache/S/c/500/333/Screen_Shot_2023-02-28_at_8.56.10_AM.png?width=1920&quality=75&auto=webp&format=pjpg)
![Metals Minute 177: Golden Opportunity](https://mgi.usgoldbureau.com/media/amasty/blog/cache/S/c/500/333/Screen_Shot_2023-02-28_at_8.56.10_AM.png?width=1920&quality=75&auto=webp&format=pjpg)
On the heels of the FED Minutes release indicating more work is needed to combat inflation, gold dipped, bringing it down a fraction for the week to $1,834. Silver also is down a fraction to $18.70. Platinum and palladium are both higher however, with platinum up 4% to $963, and palladium up 2% to $1,528.
From a year ago today, gold is down 3%, silver is down 10%, platinum is 11% off, and palladium is 35% lower. This places all the metals on sale, so to speak; today we will highlight the opportunities for gold.
Since the turn of the century, gold has outperformed the S&P 500 stock index by 200%. But currently, gold is showing a strong buy signal from a technical standpoint, reaching the most oversold positioning since last October.
In layman’s terms, we have a short-term opportunity to purchase a top-performing long-term asset on sale. While nations such as Turkey are importing gold at the highest pace in 11 years, gold miners such as Sibayne-Stillwater are issuing profit warnings due to inflation in the costs associated with mining.
Increased demand for gold, higher costs to mine gold, and a temporarily oversold condition for gold all add up to a great opportunity for gold investors.
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![Bill Stack](https://mgi.usgoldbureau.com/media/amasty/blog/Bill_Stack_Author.jpg?width=64&quality=75&auto=webp&format=pjpg)