Gold Moves Above $1,400, A 6-Year High, While Silver Languishes Under $15.50

	Aggressive Buying By China, Demand For Jewelry In India Fuel Silver Prices
	Last week bullion prices surged on the expectation of a US rate cut. Concerns over global slowdown made investors buy bullion as a safe-haven . . . . Moneycontrol.com (Read More)

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Gold reached a new six year high of $1,411 per ounce last Friday during trading. In the past three weeks, Gold has rallied over $100, an extraordinary move in that short of a time. Gold closed at $1,398 per ounce on Friday. What were the primary reasons for this Gold rally? A combination of an easing interest rate policy by the Federal Reserve and increased military hostilities with Iran. Other contributing factors to Gold’s $100 rally were record demand for physical Gold by the world’s largest central banks and a weaker U.S. Dollar.

What is next for the Gold price? A lot depends on what’s going to happen with Iran, but putting that aside, this Gold rally could reach a high of $1,423 (the June 2013 high) this week. However, Gold badly needs some time to consolidate the recent gain. It would be healthy for a continued rally for Gold to build a new support base above $1,350 per ounce, preferable above $1,380. This would allow Gold time to establish a new trading range below $1,400 for the next breakout attempt later this summer. Positive trade talks with China at the upcoming G-20 meeting in Japan could also be a positive catalyst for the Gold price.

Today: Gold continues to rally as the U.S. Dollar Index and interest rates move lower. Trader’s eyes are looking forward to this week’s G-20 meeting and any movement in the Chinese’s trade war. Right now, Gold is trading at $1,414 per ounce up $16 on excellent volume.

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Silver reached a 3-Month high of $15.55 per ounce Friday in early Asian markets, while Gold was trading over $1,400. Silver closed last Friday at $15.30 per ounce. As the precious metal markets rolled into the U.S., Gold held all or most of its increase, while Silver dropped as much as $0.40 per ounce. Silver continues to lack the price support and demand that Gold has. This is amazing considering the Silver-to-Gold ratio has reach an unbelievable 91.57-to-1. The Silver-to-Gold ratio at the beginning of the year was 81.45-to-1. Silver continues to disappoint, being down $0.14 since January 1st, while Gold is at a 6-Year high, up $122 since the start of 2019. At some point in the near future, I expect to see Silver rally, but we need signs of increased inflation coming to the economy first.

Today: With Gold up $16 per ounce, Silver is up $0.08 per ounce this morning. Silver is showing substantial resistance at the $15.50 per ounce level.

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Over the past 14 years, I have worked with a serious collector to build the all-time finest Morgan Silver Dollar Set. At auctions, coin conventions, and all of the rare coin trading networks, I focused my attention on rarities and purchased only PCGS finest known or low population Morgan Dollars. Earlier this year, I sent most of the coins to PCGS for pedigree and review.

I listed the Illinois Sets on the following five PCGS registry categories last Wednesday, and all five were All-Time Finest collections.

97 pc. Morgan Dollars Basic Set, Circulation Strikes (1878-1921)
117 pc. Morgan Dollars with Major Varieties, Circulation Strikes (1878-1921)
26 pc. New Orleans Morgan Dollars, Circulation Strikes (1879-1904)
29 pc. Philadelphia Morgan Dollars, Circulation Strikes (1878-1921)
28 pc. San Francisco Morgan Dollars, Circulation Strikes (1878-1921)

I have many clients who have or are building high-end registry sets, but building the Illinois Morgan Dollar collection is one of the proudest moments of my 59-year numismatic career. For more information about the set, see the following press release:

	Previously Unreported Morgan Dollars Sets Emerge As PCGS All-Time Finest
	Quietly and patiently acquiring superb quality coin-after-coin over the past 14 years, an Illinois collector working with Barry Stuppler of Mint State Gold by Stuppler . . . . (Read More)

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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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