Blog

No Trick, Just Treat Promotion

Skip the trick or treating this Halloween and take advantage of our promotion, where we guarantee you a treat! Get an extra 5% on all gold, silver, & platinum prices when you mention this promotion! But hurry! This offer is only valid until October 31st, 2020.

stimulus-trump

Trump Cancels Stimulus Talks Until After Election!

Trump refuses to move forward with Stimulus negotiations

Donald Trump’s tweets last night regarding stimulus negotiations saw both gold and the stock market drop 2% during the day. He called off stimulus negotiations until after he “wins the election”, and has instructed his representatives to do the same. He included in the tweet that “immediately after I win, we will pass a major Stimulus Bill…“. This is essentially a means of holding the election hostage with the threat of no more stimulus support. Lack of government support at this time will have a serious impact on hardworking Americans and small businesses.

What do people think of this?

Many of the comments on twitter claimed he was blackmailing the country, claiming that he’s acting petty, or that he’s holding the elections hostage. It’s easy to see where they’re coming from when you see the negative impact that his words have not only on the markets but also on the average American. With unemployment at 7.9%, according to the Labour of Bureau Statistics, and many people working reduced hours, lack of stimulus support will have families struggling to make ends meet.

But isn’t there a risk of doing too much?

All of this comes just after Federal Reserve Chair Jerome Powell warned that the economic recovery is still not complete. He also said that there will be “recessionary dynamics” if the spread of Covid-19 is not curbed and the economic growth isn’t sustained. He went on to say that there is more risk of doing too little as opposed to not enough. We’ve seen the Fed Chair already make dramatic moves to help the economy recover through unconventional methods, and that he’s not afraid of overdoing it.

“Even if policy actions ultimately prove to be greater than needed, they will not go to waste. The recovery will be stronger and move faster.”

shark-2102330_1920

Gold Treading Dangerous Waters

How does it sit in the market?

Gold markets are currently testing the waters around the $1900 USD mark, where it found some support. Gold prices saw a drop of 1.91% over the weekend, even falling below the $1900 mark. This has left many wondering if this trend will continue. At its low on Monday, buyers stepped in and kept barely above the mark at $1903.92 USD. If it were to fall below the $1900 mark, the next psychological support would come at $1800 USD. If this were to happen, it would be a very good time to buy gold. With the recent growth of the American dollar – hitting a 6 week high, gold has taken a hit. in fact, gold has hit its lowest point in 2 months. 

Comments by Federal Reserve Chair boost prices

Upcoming events such as the comments from the Federal Reserve Chair will have an impact on gold prices. More can be found in my previous blog. We saw Federal Reserve Chair Jerome Powell’s recent comments at the first day of testimony before Congress. He came out and urged caution, reminding us that we still have a ways to go before we start to see the economy recover.

“A full recovery is likely to come only when people are confident that it is safe to reengage in a broad range of activities. The path forward will depend on keeping the virus under control, and on policy actions taken at all levels of government,” he said.

What can we expect in the future?

He continued, stating that the central bank will continue to stay “committed to using our full range of tools to support the economy for as long as is needed.” However, there was no mention of any future economic stimulus measures. All of this comes roughly a week after the Federal Reserve’s comments on keeping interest rates at 0% until 2023.  

The Federal Reserve Chair’s words have helped to increase buying interest in gold & boost it’s price. However, gold isn’t expected to show significant growth in the near future.

gabriel-valdez-Q6-n5G2vA78-unsplash(1)

Gold Market Instability: More to come?

Watching recent gold activities has been a lot like a rollercoaster lately; it’s had huge ups and downs. We’ve seen gold climb to $2735.05 CAD, up $132.53 in just over a week, only to see a huge correction where gold dropped to $2568.75 CAD in the following few days. And with upcoming events, it looks like there’s more instability to come.

There’s lots to look out for in the coming weeks that will affect gold prices – comments by the Fed Chair on Thursday in regards to the central bank’s policies, the assessment of the equity market, and the U.S elections in November. All these events will see gold prices fluctuating as it comes out.

Another good data point to watch for volatility is the unemployment rate. The worse the unemployment, the more like it is that the governments will pump more money into the economy to boost it, which would have a positive effect on gold. And with these numbers set to release next week, you can bet that it will have an impact on gold prices.

markus-spiske-KP1bubr2j4A-unsplash-eddited

Gold’s Reign At An End?

After a major correction in the gold market on Tuesday, gold prices dropped by $171.63 (CAD); the most in 7 years! But why did this happen? And will gold recover or continue to drop?

gold-opportunity

Gold Analysis – An Opportune Crisis?

The recent Covid-19 pandemic has taken the whole world by surprise and the financial markets are beginning to feel the effects. After closing at a record high of $29,551.42 on February 12th, it opened March 30th at $21,678.22, dropping a staggering 26.6% in just over a little more than a month.

Pawn Loan Repayment Example

This is an example of a pawn loan repayment for a 12 month period.

Original loan amount: $30,000

Total to repay at redemption: $40,440

Total cost of borrowing at redemption: $10,440

Maximum APR = 34.8%

Minimum period 61 days, maximum period 12 months.

Business Hours

Mon

9am - 8pm

Tue

9am - 8pm

Wed

9am - 8pm

Thu

9am - 9pm

Fri

9am - 9pm

Sat

10am - 6pm

Sun

12pm - 5pm

Contact

Cash M Company
9025 Torbram Rd.,
Brampton, ON L6S 3L2

©2020 - Cash M Company. All Rights Reserved

CONNECT WITH US