Gold Back On Track With The Silver To Gold Ratio Dropping

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	US Dollar Drops, Gold Pops After Soft NFP Report
	NFP Mixed as Headline Misses, Revision Downgraded, While Unemployment Rates Beats. . . .Justin McQueen, Analyst
	Silver Is A ‘Turbo-Charged Version Of Gold’
	Due to use in solar panels --Goldman’s Jeff Currie says. . . .Kevin Stankiewicz
	Silver Bulls Run Out Of Gas Fast ; Gold Follows Lower
	Gold and silver futures prices are trading sharply lower in midday U.S. trading Tuesday, with silver leading the way . . . . .Jim Wyckoff
	One Billion Ounces Of Silver Traded In London On Monday As Prices Surged
	The amount of silver traded in the London market surged to 1.006 billion ounces on Monday, triple the level typical in recent months. . . . Reuters Commodities

Last week was exciting in the world of precious metal trading. After seeing a weekly high of $1,875 on Monday, the Gold price reached a low of $1,782 by Thursday. For the most part, the Gold price took direction from Silver’s short squeeze rally and trading in the U.S. Dollar Index. By Friday, talk of Biden moving forward on the $1.9 trillion COVID-19 stimulus package rallied Gold. Gold closed on Friday at $1,811, down $35 per ounce for the week.

$1,800 per ounce is an important long-term support level for Gold. With President Biden making Congressional preparation for the passage of his $1.9 trillion COVID-19 stimulus legislation a Gold and Silver rally is right around the corner. The current price of Gold represents an excellent opportunity at this time.

Today: Democrats in the house are quickly moving on President Biden’s $1.9 trillion COVID-19 stimulus legislation, with the hope of a floor vote by month-end, combined with a weaker dollar has caused Gold to rally $20. I’m looking for Gold to move above the important $1,850 level by the weekend.

Silver trading was extraordinary last week. Silver was in the spotlight on Monday as it broke above the key $30 per ounce level. On Monday reports of shortages in Silver supplies and talk of huge demand gave many traders the feeling that Silver could be put in a short squeeze, driving the price to $50 per ounce. A small group of new stock and commodity traders aggressively purchased Silver mining stocks, Silver futures contracts, and Silver ETFs causing record volume, while driving up prices. Many of the major financial institutions and commodity houses filled the demand while receiving high prices. By Tuesday, prices had dropped back to previous levels, and by Friday, Silver ended up $0.10 for the week, closing at $27.01 per ounce.

The huge demand for popular Silver investment products we saw on Monday caused tremendous shortages across the industry on current supplies. This shortage combined with many of the major world mint backlogs has driven up premiums on many Silver-based coins and bars. Silver, also reached a Silver-to-Gold ratio of 67.10-to-1, the lowest level since July of 2016.

Today: After last week’s crazy volatility, Silver seems to have found support above the key $27 per ounce level. Additionally, the Silver-to-Gold ratio continues to look better and better, as inflation concerns are hitting the news.

Recent major auctions are showing increasing demand for high-grade PCGS/NGC U.S. Silver and Gold Pre-1933 rare coins. Availability of new products is falling, while new collectors and dealers are becoming aggressive buyers. That is a formula for higher prices very soon on many of the popular series (i.e., Morgan & Peace Dollars and U.S. Gold $5 to $20 Liberties, Indians and Saint Gaudens). I believe we are easily six months in this numismatic rally, which normally lasts 2-3 years, as it rotates from one series to another.

Thank you Barry + David StupplerMintStateGold.com by Stuppler and Company[email protected] 1-888-454-0444
	Barry Stuppler Founder + President	David Stuppler Managing Director
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