Gold & Silver Prices Are At Long Term Support Levels

CLICK HERE FOR NEW Morgan Silver Dollars

CLICK HERE FOR NEW Peace Silver Dollars

CLICK HERE FOR NEW $20 Gold Saint Gaudens

	Silver Collapses as Dollar Gets To Monthly Highs
	Silver is currently trying to settle below the support at $22.90 while the U.S. dollar is gaining . . . . Vladimir Zernov
	Gold Retakes $1,800 As Investors Weigh U.S. Inflation Report
	Gold futures turned higher on Tuesday as a report on the cost of living . . . . Myra P. Saefong
	"Physical Demand Will Completely Overwhelm Supply" And How Silver Could Wind Up Over $270
	This is Part 1 of a two-part interview with Andy Schectman, President & Owner of Miles Franklin Precious Metals . . . . Tyler Durden
	What’s Wrong with Gold? Absolutely, Nothing
	Gold. What’s wrong with it? From spiking inflation, falling real interest rates, and massive money printing . . . . Lance Roberts
	Gold and Silver Both Drain from COMEX Inventory
	Gold and silver have both significantly drained from the Comex inventory since August 1 . . . . SchiffGold

With our U.S. Dollar making a one month high of 93.23 and a Federal Reserve announcement being released this week, the Gold price was under pressure all last week. My biggest concern is that Gold broke below the key $1,750 support level last Thursday and Friday, although it closed above each day. Gold closed last week at $1,750.20 per ounce, down $41 for the week.

The spot Gold price has dropped over $80 in the past two weeks and at a very attractive price level. Plus, with physical demand lower and premiums on the popular investment items dropped, this represents an excellent long-term value. With Gold at the current price level, I would expect to see strong Central Bank buying, which has happened in the recent past.

Every time I lose a little bullishness for Gold, I think about the extraordinary growth in the M2 Money Supply since January. You add that to the $120 billion a month provided to the stock market from the Federal Reserve which will cause continued devaluement of the U.S. Dollar. For those reasons and many more, the world’s largest investors, and major Central Banks are increasing their Gold reserves at a record pace, while physical supplies are draining.

Today: We have the stock market, Bitcoin, the U.S. Dollar and interest rates dropping while Gold is moving higher. Reports of dwindling physical supplies of Gold and Silver in the COMEX is providing increasing demand.

Silver followed Gold lower last week, dropping below the key $23 support level and closing at $22.38 per ounce, down $1.52 for the week. The Gold-to-Silver ratio soared last Friday to over 78-to-1, a very attractive level to increase a Silver position. However, I recommend waiting until Silver firmly moves back above the key $24 per ounce support level.

Today: Silver reached a new 2021 low of $22.06 in early European trading this morning. Silver rallied back with Gold as the markets moved out of Europe and into the U.S.