Both Gold & Silver are consolidating ahead of the next leg higher

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	As Talk Turns to Inflation, Some Investors Look to Gold
	Interest in gold surged, along with concern about the possibility of higher inflation . . . . Brian J. O'Connor
	Basel III Gold’s Journey To The Moon And Back
	With the implementation of the Basel III frameworks, the status of Gold is anticipating massive changes . . . . Jay Kumar
	Congressman Mooney Introduces Bill To End Federal Taxes On Gold And Silver
	U.S. Representative Alex Mooney (R-WV) today re-introduced sound money legislation to remove all federal income taxation from gold and silver coins and bullion . . . . JP Cortez
	India’s March Gold Imports Surge 471% To A Record 160 Tonnes
	MUMBAI: India’s gold imports in March surged 471% from a year earlier to a record 160 tonnes, a government source told Reuters on Thursday, as a reduction in import taxes and a correction in prices from record highs drew retail buyers and jewelers . . . . Reuters
	Will Biden’s Infrastructure Plan Rebuild Gold?
	President Joe Biden announced the big infrastructure plan , the second major legislative initiative after the $1.9 trillion coronavirus relief plan passed in early March . . . . Arkadiusz Sieron

Gold broke above the key resistance level of $1,750 per ounce last week, reaching a high of $1,759 before seeing some light short-term profit-taking. Gold needs to consolidate above $1,720 for a while to establish a firm base for the third, and hopefully last, attempt to break the key $1,750 level and head toward the $1,800 barrier. Gold moved above the $1,740 level on Tuesday as India reported a 471% increase in March Gold buying. And then on Thursday, Gold reached $1,759 as the U.S. Dollar and interest rates sold off.

Last week, the 10-Year Treasury rate ranged from 1.62% to 1.68%, and the U.S. Dollar Index dropped (now trading between 92.00 to 92.75). Both indicators have been moving lower, giving strength to the Gold price. Gold closed last week at $1,743.30 per ounce up $16.80.

We continue to see substantial increases in Gold demand in European and Asian countries. This is due to the recent strength in the U.S. Dollar which is a great benefit for Asian and European buyers, as they are able to purchase Gold, at a bargain price, in their currency. That demand is keeping premiums high on many of the popular newly minted bullion coins, while many of the larger world mints continue to be back ordered with delayed deliveries.

Today: Gold traded lower over the weekend, as there was lack on any bullish news to give the market a firm direction. The U.S. Dollar and interest rates trade in a narrow range at recent levels.
Gold tested the $1,730 level and held as it continues to consolidate recent gains.

Last week, Silver moved back above the key $25 per ounce resistance level, closing at $25.31 per ounce, up $0.38 on strong demand. After reaching a 2021 low of $23.74 per ounce on March 31st, Silver has seen an increase in demand, as the price has moved up over $1.50 per ounce. The Silver-to-Gold ratio has moved down to 68.87-to-1.

Today: With weakness in the Gold price, Silver broke down below the key $25 level and reached a low of $24.67 before finding bargain buyers. Both Asian and European buyers became active as Silver reached bargain levels.

I’m proud to offer the April 2021 version of CoinStats, which has been updated with plus grades and other features. CoinStats for April 2021 offers six different series: $20 Gold Saint Gaudens, $20 Gold Liberties, $10 Gold Indians, Morgan & Peace Silver Dollars, and the Walking Liberty Half Dollars.

The CoinStats report provides a list of my recommended certified U.S. Gold and Silver coins which are found listed on the Best Value page. These are not the modern issue bullion coins or low-grade circulated coins. These are PCGS certified MS63 or higher Gold and Silver U.S. rare coins, dated prior to 1948, which have a proven track record of appreciation and also offer excellent liquidity.

The April 2021 version of CoinStats has all the populations and prices from PCGS. NGC populations and registry information has been omitted. The reason for this change is that over 80% of my clients only purchase PCGS coins, so I wanted to focus on PCGS data only. A new addition is information in increases in all PCGS grade populations from issue to issue, plus increases in popular PCGS Registries at the bottom of the Best Value page.

If you wish a copy of the current CoinStats, just reply in the subject line with the series requested.