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Gold and silver prices: What to know going into November

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Gold and silver bars
There’s a lot to know about the price of gold and silver as we head into November.

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The uptick in the precious metals market has captured widespread attention over the past year, demonstrating remarkable strength that has caught many market observers off guard. The sustained bull run has defied early predictions and continues to generate significant returns for investors who positioned themselves in this sector, with both gold and silver posting impressive gains throughout 2024.

Gold, in particular, has been breaking records with unprecedented frequency this year, rewarding early investors with substantial returns that have outpaced many traditional investment vehicles. This powerful upward momentum has been matched by silver’s performance, which has seen its own impressive price appreciation since the beginning of the year, attracting a new wave of investors seeking to capitalize on the precious metals boom.

However, the economic landscape is showing signs of transformation as we approach the final weeks of the year. Inflation has been cooling rapidly, and the Federal Reserve’s first rate cut in September has triggered a shift in market dynamics, with interest rates starting to decline. With additional Fed rate cuts anticipated for the coming months, these monetary policy changes could influence precious metals prices going forward. As a result, there are a few things to know about gold and silver prices going into November.

Diversify your investment portfolio with gold today.

What to know about gold prices going into November

Gold’s remarkable performance in 2024 has been extraordinary, with prices surging by about 33% so far. The price of gold was just $2,063.73 per ounce on January 1 — but is now sitting at $2,734.46 per ounce (as of October 25, 2024). And despite the recent moderation in inflation and interest rates, market analysts remain bullish on gold’s prospects, with many projecting that gold prices could exceed $3,000 per ounce before the year concludes.

This continued optimism stems from several key factors. Global geopolitical tensions, persistent economic uncertainties and ongoing concerns about banking sector stability continue to drive investors toward gold as a safe-haven asset. The metal’s historical role as a hedge against uncertainty has only strengthened in the current climate, where traditional financial markets face increasing volatility.

Central bank buying also remains robust, with central banks worldwide continuing to diversify their reserves away from traditional currencies. This institutional demand, combined with retail investor interest and limited new supply coming to market, creates a strong foundation for sustained price support. The recent pattern of quick recoveries following any price dips also suggests a robust underlying demand that could push prices higher through November.

Capitalize on gold’s impressive price growth now.

What to know about silver prices going into November

Surprisingly, silver has emerged as an even stronger performer than gold in 2024, with prices climbing nearly 42% from $23.76 per ounce on January 1 to $33.67 today. This impressive gain highlights the potential for generating substantial returns by investing in silver, though investors should approach this option with an awareness of the metal’s characteristic volatility.

One thing to note is that the price movements in silver typically demonstrate more dramatic swings than gold due to its dual nature as both a precious metal and an industrial commodity. This unique position means silver prices respond not only to investment demand but also to industrial consumption patterns, particularly in growing sectors like renewable energy and electronics manufacturing. The global push toward green technology, especially in solar panel production, continues to drive industrial demand for silver, potentially supporting higher prices.

However, this same versatility can lead to increased price volatility. Economic slowdowns can impact industrial demand, while investment flows can quickly shift based on market sentiment. So, as we move into November, investors should consider their risk tolerance when approaching silver investments, as the potential for higher returns comes with the corresponding risk of sharper corrections.

The bottom line

The precious metals market has demonstrated remarkable strength so far throughout 2024, with both gold and silver delivering substantial returns for investors. As we approach November, the fundamental drivers supporting these prices remain largely intact, despite evolving monetary policy conditions. While gold continues to attract investors seeking stability in uncertain times, silver offers potentially higher returns with corresponding volatility. Investors considering entering these markets should carefully weigh their risk tolerance and investment timeline, recognizing that while the long-term trend appears positive, short-term fluctuations are likely to continue.



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Washington Post declines to endorse a presidential candidate, angering staffers and subscribers

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The Washington Post’s publisher, William Lewis, on Friday said the newspaper would not endorse a presidential candidate in this year’s election or in future elections, a stance that sparked outrage from and some of its current and former employees, as well as subscribers.  

“The Washington Post will not be making an endorsement of a presidential candidate in this election. Nor in any future presidential election. We are returning to our roots of not endorsing presidential candidates,” Lewis wrote in a note published on the newspaper’s website.

The decision follows a move by Los Angeles Times owner Patrick Soon-Shiong to block that newspaper’s endorsement of Vice President Kamala Harris, which has sparked the resignation of the editorials editor, Mariel Garza, followed by the resignations of two other members of its editorial board.

Both Soon-Shiong and Washington Post owner Jeff Bezos are billionaires who made their fortunes outside the media industry. 

Former WaPo editor objects

Media observers decried the decisions, while some readers of the newspapers said they are canceling their subscriptions.

“This is cowardice, with democracy as its casualty,” wrote Marty Baron, the former editor of the Washington Post, who retired in 2021, on X Friday about the Washington Post’s decision. Former President Donald Trump “will see this as an invitation to further intimidate owner @jeffbezos (and others). Disturbing spinelessness at an institution famed for courage.”

The Washington Post Guild, which represents roughly 1,000 journalists and other workers at the media company, expressed concern that corporate management had interfered with the paper’s editorial decision-making process.

“According to our reporters and Guild members, an endorsement for Harris was already drafted, and the decision to not to publish was made by The Post’s owner, Jeff Bezos,” the labor group said In a post on X. “We are already seeing cancellations from once loyal readers. The decision undercuts the work of our members at a time when we should be building our readers’ trust, not losing it.”

Robert Kagan, an editor at large for the Washington Post, resigned from the editorial board as result of the decision not to endorse a candidate, according to NPR’s David Folkenflik. “Kagan has been a persistent conservative critic of Trump, tying him to an autocratic tradition,” Folkenflik wrote on X. “Uniformly outraged response from staff.”

Some readers of both the Post and the Los Angeles Times said they planned to cancel their subscriptions, with some posting images of their subscription cancellation notices. 

“Great, another billionaire protecting his own self-interest instead of the country’s. Nice knowing you, @washingtonpost⁩. Subscription canceled,” wrote Hollywood director Paul Feig on X. 

Zach Wahls, an Iowa state senator and a Democrat, wrote, “I am a strong believer in paying for serious, high-quality journalism, and that is exactly why I am canceling my @washingtonpost subscription over this timid, cowardly decision that could not come at a worse possible — or more revealing — time.”

The vast majority of reader responses on social media were negative, with many saying they had canceled their subscriptions, although a few expressed support for the Washington Post. “For the first time in my adult life, I’m proud of the Washington Post,” one reader wrote.

Lewis didn’t immediately return a request for comment, nor did Los Angeles Times executive editor Terry Tang.

Los Angeles Times resignations

On Thursday, Los Angeles Times veteran journalists Robert Greene and Karin Klein announced their resignations one day after the editorial page editor Garza left in protest over Soon-Shiong’s decision not to endorse a candidate.

Greene, a Pulitzer Prize winner for editorial writing, said in a statement shared with the Columbia Journalism Review that he was “deeply disappointed” in the decision not to endorse Harris.

“I recognize that it is the owner’s decision to make,” he wrote. “But it hurt particularly because one of the candidates, Donald Trump, has demonstrated such hostility to principles that are central to journalism — respect for the truth and reverence for democracy.”

Garza said the board had intended to endorse Harris and that she had drafted the outline of a proposed editorial, but that was blocked by Soon-Shiong.

An editorial board operates separately from the newsroom, and its writers’ job is to present an issue and then take a side and lay out arguments to defend it.

contributed to this report.



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Grateful Dead’s Phil Lesh dies at 84

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Grateful Dead’s Phil Lesh dies at 84 – CBS News


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Original Grateful Dead member and longtime bassist Phil Lesh has died. He co-founded the band in the mid-1960s and played guitar with them for decades. Lesh was 84.

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Norah O’Donnell interviews Vice President Kamala Harris across CBS News platforms beginning Oct. 27

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“CBS Evening News” anchor and managing editor Norah O’Donnell will interview Vice President Kamala Harris in Kalamazoo, Mich., this weekend for a CBS News exclusive.

O’Donnell will join the Democratic presidential candidate on the campaign trail in Houston and Kalamazoo to provide viewers with an exclusive behind-the-scenes look at the final days of her campaign.

The interview with the Democratic presidential nominee will air first on “CBS News Sunday Morning” on Sunday, October 27, at 9:00 a.m. ET., with additional excerpts of the interview appearing on “Face the Nation with Margaret Brennan,” “CBS Mornings,” the “CBS Evening News,” and on the CBS News 24/7 Streaming Network.

Plus, tune in to “Face the Nation” on Sunday for moderator and chief foreign affairs correspondent Margaret Brennan’s interview with Republican vice-presidential candidate Senator JD Vance Sunday at 10:30 a.m. ET. 

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The Emmy Award-winning “Sunday Morning” is broadcast Sundays on CBS beginning at 9 a.m. ET. “Sunday Morning” also streams on the CBS News app [beginning at 11 a.m. ET] and on Paramount+, and is available on cbs.com and cbsnews.com.

Be sure to follow us at cbssundaymorning.com, and on TwitterFacebookInstagramYouTube and TikTok.





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