Skip to Content
Back to Blog
Metals Minute 116: Mortgages, Earnings, and War Drums

Metals Minute 116: Mortgages, Earnings, and War Drums

July 20, 2022195 view(s)

The metals are mostly higher over the past week, with gold up a fraction to $1,722, silver up 1% to $19.31, platinum up 4% to $887, and palladium lower by 6% to $1,919. Gold is down 5% for the past year, silver is down 23%, platinum is 17% lower, and palladium is off 28%.

Most of the financial news this morning is negative, with stocks mostly lower due to concerns about earnings reports coming out later today.

 

 

War concerns seem to be growing as well, with indications the conflict may be expanding beyond the initial few provinces of Ukraine. China has also requested some manufacturers to shift production to military equipment, which has troublesome overtones for the Pacific region (perhaps Taiwan?).

June home sales numbers fell 5.4%, and mortgage demand dipped to a 22-year low. We are seeing housing prices beginning to drop in many areas. With interest rates rising, many who could sell will not due to the unfavorable mortgage terms available on the next house vs. the one consumers already have. Gold and palladium continue to lead the way YTD, with silver and platinum following closely.

 

Free gold and silver investment kit

Get Our Free
Investor's Guide

 

About the Author: Bill Stack

 

Financial Analyst of 29 years and Gulf War Veteran, Bill has been helping families nationwide keep their money safe and growing since 1993. As a Certified Financial Fiduciary® and a RICP®, Bill specializes in helping protect your assets with growth potential.

Posting in:
Bill StackbyBill Stack
This site uses cookies to improve your experience. By clicking, you agree to our Privacy Policy.