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Commentaries

May 23, 2022

Gold is trading at $1,854, a two-week high as both metals and equities ticked up to begin the week. Treasury yields have stabilized lower than the previous two weeks, with the 10-year returning to the 2.85% area after rising as high as 3.2% after the last Fed meeting. Stocks rose across the board today; the Dow gained 600 points or nearly 2% and the S&P 500 and Nasdaq each rose about 1.6% Monday.

May 20, 2023

Metals closed a volatile week in the green, with gold and silver rising 1.8% and 3.4% respectively from last week’s settlement prices. Stocks fluctuated between gains and losses today to close right around where they opened, but fell significantly for the week. This week marked the 7th consecutive negative week for the S&P 500, its worst run in 21 years.

May 18, 2022

Equities had their worst day in nearly two years as retail earnings from several major companies missed estimates, showing the effects of inflation are not just hurting consumers. The Dow dropped 1165 points and the S&P 500 fell 4.0%. The Nasdaq continues to underperform as tech stocks got drilled today, falling 4.7%. Gold and silver fell today, too, but not to the extent that equities did. Gold is currently trading at $1,816, and silver is trading at 21.45.

 

 

May 13, 2022

Both metals and equity markets closed out a volatile week firmly in the red; however, today’s stock rally helped pare some of this week’s losses. Gold declined today to close around $1,810, its lowest price since January.  Silver rose today to retake the $21.00 threshold but is still down nearly 7% for the week. The three major indices were sharply higher today after Fed Chair Powell’s comments on future rate hikes eased investors’ minds. Even with today’s rise, stocks are on pace for a really poor week. The S&P 500 shed 2.4% while the Nasdaq and Dow lost 4.2% and 2.1% respectively.

 

May 11, 2022

Stocks continued this week’s selloff Wednesday, as inflation data came in higher than expected. CPI showed prices rose 8.3% year-over-year in May, slightly higher than the 8.1% analysts predicted. The rise, however, was less than in March suggesting the worst of inflation may be behind us. Metals gained after the CPI was released and treasury yields dipped. Gold is trading at $1,852, about $20 above yesterday’s low.

May 09, 2022

Stocks and metals both declined sharply Monday, continuing last week’s selloff that accelerated into Friday’s closing. Gold is currently trading at $1,861, its lowest price since February, while silver dipped below $22.00 to a 5-month low. Stocks continue to get hammered with each of the three major indices hitting 52-week lows today. The S&P is currently down 2.5% and the Dow is down over 500 points.

May 6, 2022

The US economy added 428,000 jobs in April, beating estimates of 400,000; however, unemployment remained at 3.6% (vs. 3.5% estimate). The positive jobs report did little to calm equities markets which traded down today after having their worst day in 2 years yesterday. Treasury yields have recovered from Wednesday’s post-Fed announcement drop with the 10-year currently at 3.1%. Metals are on pace for a weekly decline as yields continue to rise. Gold is down 1.4% for the week and silver is down 3.0%.

May 04, 2022

The Fed hiked rates 50 basis points today to curb inflation which remains near a 40-year high. Equities and metals markets remained stable after the announcement as a 0.50% increase was projected by most analysts. However, both gold and stocks jumped during Powell’s press conference, primarily when he stressed that a 75bp increase isn’t being considered. Treasury yields initially rose with the 10-year breaking 3% again, but have since declined, likely because it seems rate hikes over the next several meetings will be limited to 50 basis points. Gold and silver are up 1% and 2% respectively since the Fed announced its decision.

April 29, 2022

Gold rebounded Friday to climb above $1,900, however, silver declined about 1% today to finish the week down 5%. Gold is on pace to post about a 1% weekly decline. Stocks plunged today, erasing yesterday’s gains. The Dow is down 735 points heading into the final half hour of trading and the S&P 500 and Nasdaq are down 3.0% and 3.4%. Stocks are on pace for their worst monthly performance since March 2020, when the pandemic began.

April 25, 2022

Metals plunged today as the US dollar surged to a 2-year high amid a weakening yuan.  New Covid lockdowns in China threaten ongoing economic recovery there, and across the globe. Gold dipped below $1,900 to a 2-month low Monday and silver is trading at $23.70, also a 2-month low.  Equities continue to decline as a more aggressive than anticipated QT schedule from the Fed continues to weigh on markets.

Announcements

1/05/2022
FideliTrade’s New President

Len Minner has accepted the position of President for FideliTrade. The FideliTrade board of directors chose Len because of his keen skills in the areas of accounting, audit and IT.

11/04/2021
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7/29/2021
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6/29/2021
Type 2 Gold and Silver Eagles

The U.S. Mint has changed the design on the back of American Eagle coins.  Call and order the new Type 2 silver and gold American Eagles today!   
Gift boxes are available.