Thursday, April 8, 2010
Consumers may be making more progress on personal financial issues.
- By Bruce Sands
Consumers have continued making progress in paying down their credit debts and auto loans, despite a shaky economy and questions about the strength of the recovery.
In the latest announcement from the Federal Reserve, the nation's combined consumer credit debt stood at $858.1 billion as of the end of February, down from $867.6 billion in January. The latest rate of decline, 13.1 percent on an annualized basis, was consistent with numbers seen in the fourth quarter of 2009.
In the fourth quarter of 2008, revolving consumer credit debt peaked at $958.1 billion, indicating that people have been paying down debts they ran up in the prelude to the financial collapse.
Some economists have also warned that the current decline in consumer credit is due considerably to the fact that many lenders have simply charged off old debts and are extending loans to fewer people. This is particularly likely now that federal credit card reforms have made it less profitable for lenders to offer new accounts to people with lower credit scores.
While consumers have showed progress in this area of the economy, it remains to be seen if the combination of weak spending and high unemployment will continue to make dealer gold an attractive investment option.
News brought to you by Superior Gold Group – expert gold dealers offering precious metals products. Become part of the gold affiliate program today!
Contact The Superior Gold Group and learn how to get on the gold standard at www.gold101.com or Call (888) 374-4032.
Sunday, April 11, 2010
Precious metal prices benefiting from economic optimism
Monday, April 5, 2010
Precious metals are seeing recent economic gains.
- By Superior Gold Group
Silver and gold dealers are likely to see growing demand for precious metals among investors in the coming months, in light of an improving economy that has provided some momentum for commodities in general in recent days.
For example, a recent Associated Press report noted that platinum and palladium prices had gained last week, along with other metals such as copper and silver. Many of these materials are required for the manufacture of vehicles and electronics, among other consumer products.
The wire service added that improving auto sales had fueled the price gains for platinum, which was reportedly trading around $1,669 an ounce last week, and palladium, which was around $490 at the same time.
Changing technology has also created demand for other materials that may only become increasingly valuable in the coming years. For example, various media reports have noted that companies are now seeking out new deposits of lithium in an effort to meet the long-term demand for its use in batteries for hybrid and electric vehicles.
Precious metals have long been seen as a safe haven investment for times of economic uncertainty, but new technologies have helped make these commodities more in demand regardless of what the financial climate may be.
News brought to you by Superior Gold Group – expert gold dealers offering precious metals products. Become part of the gold affiliate program today!
Contact The Superior Gold Group and learn how to get on the gold standard at www.gold101.com or Call (888) 374-4032.
Precious metals are seeing recent economic gains.
- By Superior Gold Group
Silver and gold dealers are likely to see growing demand for precious metals among investors in the coming months, in light of an improving economy that has provided some momentum for commodities in general in recent days.
For example, a recent Associated Press report noted that platinum and palladium prices had gained last week, along with other metals such as copper and silver. Many of these materials are required for the manufacture of vehicles and electronics, among other consumer products.
The wire service added that improving auto sales had fueled the price gains for platinum, which was reportedly trading around $1,669 an ounce last week, and palladium, which was around $490 at the same time.
Changing technology has also created demand for other materials that may only become increasingly valuable in the coming years. For example, various media reports have noted that companies are now seeking out new deposits of lithium in an effort to meet the long-term demand for its use in batteries for hybrid and electric vehicles.
Precious metals have long been seen as a safe haven investment for times of economic uncertainty, but new technologies have helped make these commodities more in demand regardless of what the financial climate may be.
News brought to you by Superior Gold Group – expert gold dealers offering precious metals products. Become part of the gold affiliate program today!
Contact The Superior Gold Group and learn how to get on the gold standard at www.gold101.com or Call (888) 374-4032.
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