Gold Is Back On A Clear Path To $1,500 Per Ounce By Year End

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This Week’s Headlines:

Gold
Silver
Recommended Investment Commitment And Diversification

Don’t look now, but the U.S. Dollar is falling. Since the beginning of February 2019, the U.S. Dollar Index has traded between 96 and 97. However, that changed after last Wednesday’s statement from Federal Reserve Chairman Powell that it was highly unlikely that the U.S. Federal Reserve would raise interest rates in 2019. After that statement the U.S. Dollar broke down below 96 and the 10-Year Treasuries dropped below 2.60%. A drop in the U.S. Dollar and interest rates is bullish for Gold.

Gold reached a high of $1,320 per ounce last Thursday after Chairman Powell’s information affected the precious metal markets. On Thursday, Gold’s trading volume on the CME reached the highest levels I have seen this year. It was evident that fresh buying from mutual and hedge funds had combined with professional commodity traders in the Gold market. I believe after a short period of base building between $1,300 and $1,350, Gold will breakout and start heading to $1,400. I have raised my estimate on the Gold price.

Last Friday Gold closed at $1,312 per ounce, up $11 for the week.

Today: The Gold buyers are back. Fresh buying from Asia, the Middle-East and Europe drove the Gold price to $1,323 this morning. Today’s weaker U.S. Dollar (Index below 96) and a drop in interest rates are also bringing in Gold/Silver buyers on the U.S. commodity market.

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Last Friday, Silver closed at $15.34, up $0.09 per ounce on excellent volume. After the Chairman’s statement, Silver unsuccessfully tried three time to move above the $15.50 per ounce level. Silver should stay above the $15 level as long as Gold doesn’t break below the $1,300 level, which I don’t think will happen. The real question is: what does Gold need to do to get Silver to stay above the $15.50 resistance level? The current Silver to Gold ratio is 85.52-to-1.

Today: Silver is following Gold higher this morning, reaching a high of $15.66 per ounce, before seeing selling. With today’s Gold rally it would be short-term bullish for Silver if it stayed above $15.50 at the close.

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If you want to be updated on what is happening in the Gold, Silver, and Rare Coin markets any weekday, our company offers a daily blog Monday through Friday at www.stupplerblog.com

All statements, opinions, pricing, and ideas herein are believed to be reliable, truthful and accurate to the best of the Stuppler & Company’s knowledge at this time. Stuppler & Company disclaims and is not liable for any claims or losses which may be incurred by third parties while relying on information published herein. Individuals should not look at this publication as giving finance or investment advice or information for their individual suitability. All readers are advised to independently verify all representations made herein or by its representatives for your individual suitability before making your investment or collecting decisions.

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REMEMBER THE BLOG

If you want to be updated on what is happening in the Gold, Silver, and Rare Coin markets any weekday, our company offers a daily blog Monday through Friday at www.stupplerblog.com

All statements, opinions, pricing, and ideas herein are believed to be reliable, truthful and accurate to the best of the Stuppler & Company’s knowledge at this time.  Stuppler & Company disclaims and is not liable for any claims or losses which may be incurred by third parties while relying on information published herein.  Individuals should not look at this publication as giving finance or investment advice or information for their individual suitability.  All readers are advised to independently verify all representations made herein or by its representatives for your individual suitability before making your investment or collecting decisions.

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