Double-Digit Price Hikes Slam Phoenix Again

11 Nov

Double-Digit Price Hikes Slam Phoenix Again

Consumer prices climbed 7.7 percent during the 12 months through October, according to the Labor Department.

While administration officials celebrate the October report because it was down from the 8.2 percent rate reported a month earlier, residents of the Phoenix metropolitan area- where Republic Monetary Exchange is located- had no reason for celebration.  That is because consumer prices continued to climb at double-digit rates for Phoenicians.

The Phoenix metro Consumer Price Index for the 12-month period clocked in a 12.1 percent.  

Meanwhile, the technical picture for gold and silver prices has turned bullish.  Gold displayed a breakout above its lows just above $1,630 that were touched just briefly in the prior three months.

Gold has now moved decisively above its 50-day moving average (the blue trend line), and may be preparing an assault on the 200-day moving average (the red trend line), currently just over $1,800.  

Silver has also moved well above its 50-day moving average and has now penetrated its 200-day moving average as well.

Keep current on this volatile economy.  Speak with a Republic Monetary Exchange gold and silver professional and create a sensible plan to protect your wealth and your family.