Precious Metals Rally Toward Numismatic Explosion

GOLD

In overnight trading, three major central banks lowered their interest rates. Lower interest rates are bullish for precious metals, causing Gold and Silver to soar. Today, the U.S. Dollar Index opened lower and Gold moved over the important $1,500 per ounce major resistance level. Gold reached a high of $1,510. At 11am PT today, Gold is trading at $1,502 per ounce, up $30 on excellent volume.

SILVER

As Gold rallied, Silver jumped $.60 per ounce on extraordinary volume. Silver flew through the $17 per ounce resistance level and hit a high of $17.24 before taking a breath. At 11am PT today, Silver is up $0.70 per ounce, trading at $17.13 on excellent volume.

RARE COINS

With the soaring Gold and Silver metal price, get ready for a numismatic explosion. Historically, rare coins rally after a major move in the bullion. With a largest rare coin convention of the year scheduled for next week, I look for a start of a numismatic price explosion in high grade U.S. Gold and Silver rarities.