Gold & Silver are moving higher – Proof Gold Eagle Update

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	The Gold Bull Market Has Barely Started
	Gold's severe correction and weak performance in relative terms has led many to ask if the bull market is over . . . . Jordan Roy-Byrne
	U.S. Producer Prices Rise; Consumers' Inflation Expectations Ease
	U.S. producer prices increased strongly in February, leading to the largest annual gain in nearly 2-1/2 years, but considerable slack in the labor market could make it harder for businesses to pass on the higher costs to consumers . . . . Reuters
	Silver Rallied Back Above $26.00 As Soft US Inflation Eases “Overheating” Fears
	Spot silver prices (XAG/USD) have seen upside in recent trade, rallying from around the $25.75 area to current levels around the $26.00 level in wake of a softer than expected US Consumer Price Inflation report for the month of February . . . . Joel Frank
	Gold Up, as U.S. Inflation Data Pushes Treasury Yields and Dollar Lower
	Gold was up on Thursday morning in Asia, hitting a one-week peak as investors digested further progress on a massive U.S. stimulus package and U.S. inflation data that fell below expectations . . . . Gina Lee
	Gold’s Slump Boosts Indian Buying Ahead of Wedding Season
	Indian gold buyers sidelined for most of the past year due to surging costs are now snapping up bullion as a drop in prices unleashes pent up demand . . . . Swansy Afonso and Shruti Srivastava, Bloomberg News

Finally, the $1.9 Trillion Covid-19 relief legislation was signed into law on Thursday. The $1,400 relief checks will be on the way soon, and hopefully they will help those in need. The total amount of Covid-19 relief money has now reached over $6 Trillion in the last year, and the effects of these economic stimulus laws will be felt soon. I now believe, the recent downslide in precious metals is over and the next level for Gold is heading up to $1,800.

Last week, higher interest rates and increases in the U.S. Dollar Index caused Gold to reach a new 2021 low of $1,673. At that level, I saw sizeable purchases from bargain buyers, short-sellers and commodity houses. Because the trading volume was very high, I also expect to see heavy buying from China, Indian buyers as well as central banks being reported next month. Last Friday, Gold closed the week at $1,719.50, up $21 for the week, but traded $5 higher in the after-market trading.

Demand for the many popular bullion and bullion plus Gold and Silver coins remains strong, however, it could lighten up if the Gold and Silver spot prices stay at the current levels. However, due to current limited supplies, if precious metals start another rally, like last year in late March, it would drive higher physical demand which would cause premiums to move even higher.

This recent price correction in the Gold and Silver bullion price will only cause premiums to move higher. The best Gold values right now are the Pre-1933 bullion plus U.S. and European coins.

Today: Gold showed excellent price support and demand this morning at above the $1,722 per ounce level. Our $1.9 trillion stimulus is causing worldwide inflation concerns, and Gold has always been the ultimate inflation hedge.

Last week, Silver rallied with Gold, reaching a mid-week high of $26.52, and closed on Friday at $25.88 per ounce, up $0.62 for the week. Silver hit a low of $24.82 on March 5th, and it’s important that Silver break back and close above the key $26 per ounce long-term support level before month end. The Silver-to-Gold ratio moved to a very attractive 66.37-to-1, and I’m still recommending increasing your Silver holdings.

Today: Silver could lead the way for this precious metal bullish move, as it breaks back above the key $26 per ounce level. Demand for the popular Silver investment items remains strong and as Silver continues its rally it would increase.

On last Thursday March 11th, 2021, the U.S. Mint released the 2021-W Proof Gold Eagle Type 1 (Current Eagle Reverse Design) for sale. The U.S. Mint website was immediately overloaded with traffic and sold out these coins in just under 10 minutes!

The GOOD NEWS is that we were successfully able to purchase a small allocation of the coins. We will be offering a limited quantity at a fair market price as soon as we can. However, our pre-orders will be delayed at this time as we need to confirm shipments, quantities, and quality of the coins before we can safely commit to pre-selling them. This should hopefully only take a couple weeks.

For anyone looking to purchase the coins, we STRONGLY RECOMMEND TO WAIT, as the release was for a fair quantity of coins. We know you will see many dealers offer these coins in different labels at very high premiums. We cannot stress enough the importance of waiting to make a purchase, since it is our belief that these coins will still be available later. The past has shown us what happens on issues like this (for example, the release of the extremely limited mintage 2020-W 1oz Gold Eagle WW2 Privy coins). The Privy Coins were released about six months ago and the ones graded PCGS PR70 FDOI were promoted and offered initially for over $20,000. Currently, you can buy one for about $5,000-$7,500 less! For anyone interested in a WW2 Gold Eagle Privy coin, we still recommend waiting to purchase.

If you are interested in purchasing a 2021 Proof Gold Eagle Type 1 in either a Set or 1oz size graded by PCGS, NGC, or Ungraded, we will be happy to update you and offer the coins based on fair market conditions. Simply email either [email protected] or [email protected] with the specific item(s) you are looking to purchase, and we will follow up with you as soon as we are able. Thank you.