Gold And Silver Prices Moving Higher – July 2020 CoinStats Available
| Stuppler & Company is proud to email our clients this Weekly Market Report (WMR). The report gives you my overview of the prior week’s precious metal and rare coin market activity and news. In each WMR I share the current status of Gold and Silver along with their support and resistance levels. |
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This Week's Headlines: |
The U.S. government's COVID-19 stimulus aid legislation continues to increase. As of June 26th, the Federal Reserve’s balance sheet has reached $7 trillion and the Treasury Public Debt has grown to over $26 trillion (which is over 120% of GDP). Based on current reports, the printing press will be continuing at an extraordinary pace. Congress has at least two more trillion-dollar COVID-19 aid bills in the planning stage.
On March 27th, 2020 the $2.2 trillion CARES Act was passed by Congress and signed into law by the President. That money has done a lot of good for distressed industries, small businesses, and hospitals. But the $260 billion provided to expand unemployment benefits has caused a lot of problems. That money added $600 per week to existing benefits. In many cases, this gives an unemployed worker $1,000 a week until July 31st, and a good reason not to go back to work. Lawmakers have been told this by many employers, and hopefully will correct the program in the next stimulus bill this month.
This being an election year, both Democrats and Republicans want to help the electorate. The next stimulus bills, due this month, will hopefully help states, cities, hospitals, schools, and the unemployed while adding trillions of dollars to the economy and further devaluing our currency. The government deficits will continue to grow and the price of Gold has no direction to go but higher, reaching $2,000 by year-end.
What Can Investors Do?
Investors should buy more Gold now, and that is what is happening around the globe. Demand for all types of precious metal investments is growing. There are many ways to invest in Gold and Silver. Mining stocks, jewelry, flatware, futures, options, ETFs...but for thousands of years, the most popular and most profitable way to own Gold/Silver is physical coins and bars. Coins provide instant liquidity and, if purchased from a creditable company, have minimal fees when buying or selling.
Last week, the price of gold hit $1,800 on Wednesday (a new 2020 high) and quickly sold off on light profit-taking. However, Gold did close the shortened holiday week at $1,782, up $10, and on track to break above the key $1,800 resistances level soon.
Today: Gold continues its upward direction this morning, reaching a high of $1,790 on excellent volume in overseas trading. Physical and futures demand remains strong on all of the world’s exchanges.
Silver stayed above the key $18 level from last Tuesday until the end of the week. Silver has been struggling with the important $18 level for over a month and a half, reaching the 2020 high of $18.85 on June 1st. Silver closed last week at $18.07 per ounce, up $0.15 for the week.
Right now, the Silver price is linked to Gold market trading and that is bullish for Silver. Silver’s fundamentals aren’t as strong as Gold's because we haven’t seen inflation numbers yet. The trillions of Dollars, Euros, Yen, and Yuan provided in COVID-19 stimulus aid will give us those serious inflation numbers that will start showing up in the world’s leading economies later this year.
Today: Silver jumped with Gold, reaching a high of $18.50 before seeing short-term profit-taking. Recent trading shows that Silver has now established $18 per ounce as its support level.
I’m proud to offer the July 2020 version of CoinStats, which has been updated with plus grades and other new features. CoinStats 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.
One of the new changes in the 2020 version of CoinStats is all the populations and prices are from PCGS; NGC populations have been omitted. The reason for this change is 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.
I would appreciate your input on the changes in CoinStats. To receive the latest CoinStats analysis, just put the word CoinStats in the subject line and email me which of the six series you would like to receive.
| Thank you Barry + David StupplerMintStateGold.com by Stuppler and Company[email protected] 1-888-454-0444 |
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All statements, opinions, pricing, and ideas herein are believed to be reliable, truthful and accurate to the best of 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 decision
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Both Gold And Silver Continue To Move Higher ByMay 10 2024
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