Both Gold & Silver Building a base for next Breakout Rally

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	Global Pandemic Fueled Renewed Investor Interest In Silver In 2020
	Considerable growth in silver investment was the chief driver of the metal’s 27 percent average price gain in 2020. . . . Michael DiRienzo
	Huge Gold Shipments To India Drive Swiss Exports To 10-Month High
	India leads a recovery in demand in Asia, the biggest gold consuming region. . . . . Reuters
	China Preparing A Gold-Backed Yuan
	Beijing Greenlights Purchases of Billions in Bullion. . . . Tyler Durden
	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
	U.S. Mint Gold Coin Sales Hit New Peak In March
	The sales of American Eagle coins amounted to 55,500 oz in March 2021. . . .Paul Ploumis
	2021 Morgan And Peace Dollar Sale Dates, Price & Specifications Posted
	2021 Morgan dollars are being struck at the Philadelphia Mint with CC and O privy marks, remembering the Carson City and New Orleans Mints. . . . Paul Gilkes

Last week Gold showed excellent fresh demand and price support. Gold reached a high over $1,790 per ounce four of the five trading days before seeing some price consolidation. Gold is building a firm base to break the key $1,800 per ounce resistance level very soon. We could see one more very brief test of the $1,750 per ounce support level, but Gold’s price direction is definitely higher. Why? All the short-term and long-term fundamentals are lining up.

Interest rates and the U.S. Dollar Index have sold off in April, while inflationary indicators have become stronger and stronger. At the same time, Gold demand from professional investors and central banks is breaking record levels, with the trillions of Dollars, Yuan, Euro and Yen being printed. I still believe that breaking above $1,800 per ounce is only the first stop on reaching $2,000 by August and $2,200 by year-end.

Premiums on the popular 1 ounce Gold and Silver bullion coins have had another round of increases, as shortages and back-orders from world mints continue to grow. With premiums on 1oz Gold Eagles and Buffalos around 10%, the best Gold value is the pre-1933 European Gold. The brilliant uncirculated Swiss 20fr Helvetias, French 20fr Roosters & Angels, or British Sovereigns, which are 1/5 to 1/4 ounce are still at the same attractive price level as six months ago. Similar sized Gold Eagles and Maple Leafs are over 20% and impossible to find.

Today: While the U.S. Dollar and interest rates remain near their recent lows, Gold is trading in a narrow range between $1,770 and $1,780 per ounce this morning. I would expect to see Gold move higher since demand is continuing to pick up.

Silver traded above and below the key $26 support/resistance level all last week, reaching a high of $26.73 on Wednesday. Silver closed on Friday at $26.07 per ounce, up $0.09 for the week. Like Gold, I believe Silver is consolidating recent gains while building a strong base for its move toward $30 per ounce by August. Many of the world’s most respected mints are having a difficult time sourcing Silver to mint their popular products. Therefore, they have limited mintages and back-ordered shipments to their distributors.

Today: Silver is showing better price support than Gold, with it moving firmly above the key $26 level this morning. Silver reached a high of $26.30 per ounce in early European trading before seeing some light selling as the markets rolled into the U.S.

This is an exciting time for U.S. Gold and Silver rare coins collectors and investors. Demand continued to grow during the past year, with many auction companies continuing to show active bidding and higher prices. The series that have shown the strongest demand are PCGS/NGC graded $20 Gold U.S. Saints/Libs, Gold type, and Morgan and Peace Silver Dollars. Also, in the modern issues the U.S. Gold, Silver and Platinum Eagles from 1986 to 2015 have shown increasing demand and price appreciation.