GOLD/SILVER BACK ON A BULLISH TRACK – OCT. COINSTATS

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	Why Gold Is Set For Another Price Explosion
	As the price of gold soars, technical indicators suggest that the metal might be on the verge of a sustained rally towards new all-time highs... Paul L. Finance
	Poland Now Has More Gold Reserves Than The UK
	Adam Glapiński, president of the National Bank of Poland, announced at a press conference on Thursday that “on behalf of all Poles,” the bank now has 420 tons of gold... Liz Heflin
	Russia Set To Boost Silver Reserves A Major Precious Metals Strategy Shift
	Russia may be poised to make a notable shift in its precious metal strategy, with silver potentially emerging as a key asset... Willem Middelkoop

Last week’s Gold trading was important to the short-term direction of the Gold price. Gold started the week at $2,653 per ounce, then traded and reached a low of $2,602 by Wednesday. During Wednesday’s trading, Gold tested the key $2,600 support level and held. On Thursday the Gold price started rallying on a report that the U.S. Consumer Price Index (CPI) for September rose only 0.2%. Plus, the core CPI rate (minus food and energy) was up only 0.3% month-on-month. Last Thursday and Friday, Gold rallied over $50 per ounce, above the key short-term level of $2,650 per ounce. Gold closed Friday at $2,656 per ounce, up $3 on excellent volume.

Part of last Friday’s Gold rally was due to the anticipation of an announcement that China would provide information on a massive stimulus package for the Chinese economy. There was a press conference on Saturday where the Chinese finance minister, Lan Fo’an, hinted that they are willing to increase the deficit. He did not provide any facts and said that polices are still under discussion. Any Chinese fiscal stimulus package could range from 2 to 10 trillion yuan ($250 billion to $1.5 trillion U.S. Dollars).

Gold traders still anticipate actions by Israel on Iran. Any military attack by Israel on Iran’s nuclear facilities or energy sites would quickly send the Gold price higher.

Today: Gold started trading today in Asian markets and immediately saw selling, reaching a low of $2,643 per ounce. As Gold started trading in the Middle East and Europe, the buyers came back and Gold quickly started rallying, reaching $2,668 per ounce. During European trading, sellers came back and the price dropped. When U.S. trading opened, Gold was trading at $2,646 and stayed around that level.

Last week was not good for the Silver price. Silver opened the week at $32.12 and tested the key $30 per ounce support level on Tuesday, but held. Silver rallied back on Thursday and Friday and closed on Friday at $31.52, down $0.60 for the week. The demand increase for Silver is just a sign of what is happening in the world precious metal markets.

I reported a few weeks ago that we are seeing many Chinese precious metal buyers moving from Gold to Silver. Please read the above article about the Russian Central bank boosting its Silver holdings. Central banks historically only hold three assets, the domestic currency/debt, the U.S. Dollar, and Gold. What the Russian central bank is doing could be an indicator that other central banks are considering Silver. The Silver-to-Gold ratio has increased to 84.26-to-1.

Today: Silver traded today between $30.74 and $31.62 per ounce. The price followed Gold higher and lower, but for most of today’s trading stayed above the $31 per ounce level.

I’m proud to provide the October 2024 version of CoinStats free of charge for our clients. It has been updated with current prices and populations for regular and plus grades. CoinStats for October 2024 features six different series: $20 Gold Saint Gaudens, $20 Gold Liberties, $10 Gold Indians, Morgan & Peace Silver Dollars, and the Walking Liberty Half Dollar.

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 & Silver U.S. rare coins, dated prior to 1948, which have a proven track record of appreciation and also offer excellent liquidity.

The October 2024 version of CoinStats has updated populations and prices from PCGS. I have also included information on increases in all PCGS grade populations from issue to issue, plus increases in popular PCGS Registries at the bottom of the Best Value page. 2024 is looking like an excellent year for investment quality rare coin owners with high-grade Silver and Gold coins. If you wish to receive a copy of the current CoinStats, just reply to this email and put in the subject line the series requested.

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