Park Avenue Numismatics
5084 Biscayne Blvd, Suite 105
Miami, FL 33137
Toll Free: 888-419-7136
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Over 30 Years Experience
Park Avenue has over 30 years
experience buying and selling
Rare Coin and Precious Metals.
We have the knowledge and
ability to provide our customers
with the best products and services.
Gold firms as inflation risks persist
Gold last traded at $1,862 an ounce. Silver at $24.94 an ounce.
NEWS SUMMARY: Precious metal prices steadied Thursday on bargain-hunting and a weaker dollar. U.S. stocks traded mixed as investors grappled with seasonal Covid worries and ongoing inflation concerns.
CNBC--"Gold prices rose on Wednesday as concerns about inflation kept some investors on edge, while expectations that rising prices may prompt central banks to increase interest rates strengthened the dollar and capped bullion's advance....
'Investors are afraid of inflation going out of control and (are) therefore buying gold to hedge against that risk,' said Carlo Alberto De Casa, external analyst at Kinesis Money.
Rate increases remain a potential risk for gold and only a clear break above $1,875 may drive further gains, De Casa added....
The U.S. Federal Reserve began phasing out its bond-buying this month and expects to end purchases altogether by mid-2022. Its next policy-setting meeting is in mid-December."
