Gold Moving Past $1,320 Resistance, Hitting New 2019 Highs

Current Rare Coin Listings Updated

Click Here to see all our NEW Morgan Silver Dollars

Click Here to see all our NEW Silver Peace Dollars

Click Here to see all our NEW $20 Gold Saint Gaudens

Links to recent informative articles on precious metals and rare coins:

Russia Closing Gap On China As World NO.1 Gold Miner

India's Gold Imports Jump 64% In January Despite Prices Hitting 5-year high

Silver Demand Set To Grow Significantly In 2019

China Adds To Gold Reserves For First Time Since October 2016

Silver: Not Just The "Poor Man's Gold"

This Week’s Headlines:

Gold
Record National Debt Over $22 Trillion
Silver
Recommended Investment Commitment And Diversification

GOLD

Gold closed last Friday at $1,319 per ounce, but in aftermarket trading reached a high of $1,323, a new high for 2019. Gold broke above the key $1,300 resistance level three weeks ago, then consolidated its gains, surprisingly in a strong U.S. Dollar environment. Weaker retail sales data for January helped the Gold price, because it put pressure on the Federal Reserve to raise interest rates in a slowing economy. Gold was up $3.50 last week, while staying in a tight trading range.

Our markets were closed on Monday to celebrate the Presidents’ Day Holiday, but the world’s Gold markets were open and Gold reached $1,326 per ounce. Another new 2019 high and the beginning of a new trading range between $1,320 and $1,350 per ounce.

Today: The Gold breakout continues this morning with Gold reaching $1,340 before seeing light selling. The $1,350 level is Gold’s next resistance level. I see Gold establishing a new trading range between $1,320 to $1,350 per ounce for a while.

Back to top of report

Record National Debt Over $22 Trillion

The US National Debt broke above $22 trillion this week, not that many people care, but it’s a major disaster waiting to happen. That disaster is the continued devaluation of the U.S. Dollar.

It’s not that the value of Gold is going higher, it’s the value of our U.S. Dollar is dropping. Another trillion in National Debt this year will only accelerate that devaluation. The world’s largest investors (sovereign central bankers) saw this coming and made record purchases of Gold, exchanging for U.S. Dollars.

Back to top of report

SILVER

Silver closed at $15.70 per ounce last week, down $0.07 per ounce, in the face of a $3.50 increase in the price of Gold. Again, Silver’s price movement disappoints me. Silver needs to move above the $16 per ounce level to regain positive sentiment from me and some professional commodity traders I know. During Monday’s holiday trading, Silver reached $15.82 per ounce as Gold made record 2019 highs. The current Silver-to-Gold ratio has reached a 2019 high of 84-to-1.

Today: It took gold moving above $1,340 per ounce to get Silver to test the $16 per ounce resistance level. Silver reached $15.98 before seeing some short-term profit taking. I can’t emphasize enough how important breaking above the $16 resistance level is for the short and long-term direction of silver.

Back to top of report

Recommended Investment Commitment and Diversification:

Precious Metal commitment: Minimum of 40% of investment capital

Diversification:  Gold 60%, Silver 30%, Platinum & Palladium 10%

Diversification includes 50% in long term investment quality rare coins and 50% short term bullion products.

Back to top of report

REMEMBER THE BLOG

If you want to be updated on what is happening in the Gold, Silver, and Rare Coin markets any weekday, our company offers a daily blog Monday through Friday at www.stupplerblog.com

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.

Back to top of report