Hunter Wise Commodities: Stocks end October with steep losses, boosting precious metal prices

Nov. 2, 2011 - PRLog -- LAS VEGAS – Stocks plummeted as October came to a close, with investors worrying about the collapse of brokerage MF Global and the debt crisis in Greece.

According to Reuters, the Dow Jones industrial average lost 276 points Oct. 31, but it still had its best month since October 2002. Five stocks fell for every one that rose on the New York Stock Exchange. Volume was average at 4.2 billion shares.

“The MF Global bankruptcy has greatly affected stock prices,” said Ed Martin, president of Hunter Wise Commodities physical commodity wholesale dealer. “With stock prices down this low, we’ve seen precious metals remain sought-after investments due to their reputations as safe havens.”

Among investors, October has earned a reputation as a bad month for the stock market. The October 1929 crash ended the idealistic roaring 1920s and started the Great Depression of the 1930s. It's known as the month that’s delivered the market’s darkest days with Black Tuesday in 1929 and Black Monday in 1987.

With the European debt crisis far from fixed, many investors worry about Italy’s and Spain’s ability to pay their debts.

“Many investors like to turn to the precious metals when the stock market isn’t steady. Global concerns such as debt in Europe continue to make investing in precious metals attractive,” said Martin.

While stocks aren’t performing well, Hunter Wise Commodities recommends entering the precious metal market by becoming an independent metal dealer with the company.

The Las Vegas wholesale metal wholesaler specializes in gold, silver, platinum, palladium and copper.  More information about becoming an independent dealer with Hunter Wise Commodities can be found at http://www.hwcom.com/.

# # #

About Hunter Wise Commodities

Hunter Wise Commodities, LLC is an affiliate of Hunter Wise Financial Group, LLC. The wholesale dealer specializes in the purchase and sale of precious metals such as gold, silver, platinum, palladium and copper. The company’s corporate headquarters are in Las Vegas, Nev., with additional offices in Irvine, Calif., and London, England. For more information about the company, visit http://www.hwcom.com/.