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Silver

The Pot of Gold at the End of the Rainbow: An Origin Story

Of all the Irish myths that exist, the story of leprechauns and their pots of gold seems to have infiltrated American culture the most. You can’t go anywhere around St. Patrick’s Day without seeing posters of rosy-cheeked, red-haired fairies sliding down rainbows into cauldrons of gold coins. What’s the origin of the pot of gold at the end of the rainbow, and where can you find gold of your own?

Once Upon a Time

There are many old European stories describing fictitious creatures that hoard treasures. Many brave souls have tried to find their fortunes under the belly of a sleeping dragon or even in the furthest of depths of a mermaid’s sunken shipyard.

For those who might be fearful of fire and water, there is another fiery folk known for its vast stash—leprechauns. With a bit of cunning and a lot of luck, it is said that if you catch a leprechaun, he will tell you where his pot of gold is hidden. Beware, however, as the leprechaun is smarter than the average wood nymph, and you may be tricked into looking for gold at the ever-elusive end of the rainbow.

The Origin of the Pot of Gold

The most well-known origin story of the leprechaun’s pot of gold at the end of the rainbow involves a couple of poor farmers in Ireland. When this husband and wife pulled their very last carrot out of their garden, they found a leprechaun dangling from the roots. Being captured, the leprechaun promised one wish in exchange for his freedom.

The husband and wife could not decide on just a single wish, so they began wishing for everything—new tools, a house, jewelry—and the list continued until the leprechaun interrupted them. Dismayed by their greed, the leprechaun told the couple they might have all they wished for and more if they could find his pot of gold hidden at the end of the rainbow. The leprechaun winked and left the farmers to chase rainbows forever, looking for a fictitious fortune.

Pot of Gold at the End of the Rainbow—Meaning

With St. Patrick’s Day just around the corner, many places are gearing up for a celebration of everything Irish. Towns will soon be flooded with green shamrocks, red beards, and the iconic wall decoration of a leprechaun sliding down a rainbow into a pot of gold. Why, out of all the Irish folklore, is the leprechaun’s story of deception the one that people perpetuate? Well, like all great fables, there is a moral to the story.

This cautionary tale reminds us that relying on luck, magic, and greed can be a recipe for disaster. Instead of working hard and making strategic moves to build financial stability, people can be tricked into wasting their precious time and resources searching—metaphorically—for a pot of gold at the end of a rainbow.

Where’s Your Pot of Gold?

When the Irish came to the Land of Opportunity, they brought with them many traditions and the firm belief that you should work hard for your fortune. From coast to coast, the Irish earned their “pots of gold” in order to benefit their lives and the generations that followed. The Irish legacy is one reason the tale of the leprechaun’s promise of false fortune has become a fixture in almost every St. Patrick’s Day celebration. You may not believe in leprechauns, but if you want your pot of gold, you must do something to secure it for yourself.

Are you looking for your pot of gold at the end of the rainbow? Stop searching and start shopping with U.S. Money Reserve. Download our Free Gold Information Kit for more information about where to buy gold, how to buy gold, and what type of gold to buy.

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Silver

MCEWEN MINING REPORTS 2019 FULL YEAR AND Q4 RESULTS – GlobeNewswire

“”silver price”” – Google News

MCEWEN MINING REPORTS 2019 FULL YEAR AND Q4 RESULTS  GlobeNewswire

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Silver

Platinum, Palladium and Silver: Not So Precious Anymore

Yahoo! Finance: SI=F News

(Bloomberg) — Precious metals that are heavily used in industrial production joined the massive selloff across financial markets that saw copper tumbling as investors’ risk appetite weakened.Platinum, used to curb emissions from diesel-fueled vehicles, slumped the most on record, while silver touched the lowest in more than a decade. Palladium, which generated the highest return among major commodities last year, headed for its biggest six-session loss in records going back to 1993. Copper, a barometer of global growth, plunged to the lowest in more than three years.China posted a historic economic slump in the first two months of the year — which was even larger than analysts feared. That offset support arising from a raft of stimulus measures rolled out by central banks across the world. Stock markets resumed their slide after Friday’s bounce, with miners including Glencore Plc, BHP Billiton and Anglo American Plc plunging in London. All the main base metals traded lower.“The short-term outlook for the metals market is only getting gloomier,” Wenyu Yao, senior commodities strategist at ING Bank, said in an emailed note. “The supply growth of some metals hasn’t slowed as many expected, and the large inventory overhang is just a mirror of how bad demand looks.”The plunge in Chinese industrial output, retail sales and fixed-asset investment leaves the country on course for its first quarterly economic contraction since comparable data began in 1989.“We have seen demand shocks across the industrial metals complex before, but this time there needs to be an understanding that a return to normalcy could be slower,” said Michael Cuoco, head of fund sales for metals and bulks at INTL FCStone. “Everyone received the script last week and the negative news cycle only continued over the weekend.”Investors are exiting risk assets amid uncertainty whether policy responses would be enough to counter the mounting economic toll from the global pandemic.Platinum fell as much as 26% to $564 an ounce, the biggest intraday slump for spot prices in data going back to 1987.On the New York Mercantile Exchange, futures for delivery in April closed 12% lower at $657.70, the biggest slump for a most-active contract on records dating to 1986Palladium extended its slide, taking losses in the past six sessions to 36%. The metal fell as much as 18% to $1,495 an ounce on Monday.In the futures market, the metal for June delivery settled 0.3% higher after plunging as much as 10%Silver, used in solar panels, tumbled as much as 20% to $11.8053 an ounce, the lowest spot price since January 2009.Copper futures for May delivery fell as much as 5.2% to $2.335 a pound. The metal used in construction, cars and electronic devices, settled at $2.3925, the lowest close for a most-active contract since early 2016.On the London Metal Exchange, copper, aluminum, zinc, nickel, lead and tin all fell.To contact the reporters on this story: Mark Burton in London at mburton51@bloomberg.net;Justina Vasquez in New York at jvasquez57@bloomberg.netTo contact the editors responsible for this story: Luzi Ann Javier at ljavier@bloomberg.net, Joe RichterFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

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Silver

Why Gold Stocks Are Soaring as the Market Crashes Further – The Motley Fool

Why Gold Stocks Are Soaring as the Market Crashes Further  The Motley Fool
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Silver

Silver prices plummet as mints can’t keep up with demand – Kitco NEWS

Silver prices plummet as mints can’t keep up with demand  Kitco NEWS
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Silver

Gold, silver prices collapsing amid markets panic – “sell what you can” – Kitco NEWS

Gold, silver prices collapsing amid markets panic – “sell what you can”  Kitco NEWS
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Silver

Silver Price Forecast – Silver Markets Plunge Again – Yahoo Finance

Silver Price Forecast – Silver Markets Plunge Again  Yahoo Finance
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Silver

Silver and palladium prices can still go lower – Kitco NEWS

Silver and palladium prices can still go lower  Kitco NEWS
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Silver

Gold Price Hit Lower, Silver Price Smashed to Decade Low in Commodities Rout – DailyFX

Gold Price Hit Lower, Silver Price Smashed to Decade Low in Commodities Rout  DailyFX
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Gold

Coronavirus crash is a true ‘Black Swan’

CNBC/Al Lewis/3-14-2020

image of black swan head“While new risks could emerge, none of the main sources of recent recessions — oil shocks, inflationary overheating, and financial Imbalances — seem too concerning for now. As a result, the prospects for a soft landing look better than widely thought.” – Jan Hatzius and David Mericle, Goldman Sachs (12-31-2019)

USAGOLD note:  As the poet reminds us – “The best laid plans of mice and men often go awry.”  That is why the wise mouse stores for the economy’s winter months.  The report quoted above was published less than three months ago.