Gold & Silver Back On A Bullish Track – October CoinStats Available

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	What Does Trump's COVID-19 News Mean For Gold Price Next Week?
	There is a lot of confusion in the marketplace after U.S. President Donald Trump tested positive. . . .Anna Golubova
	Gold-Buying By Central Banks Seen Climbing From Near Decade Low
	Gold buying by central banks, an important driver of bullion’s advance in recent. . . .Ranjeetha Pakiam and Elena Mazneva, Bloomberg News
	Silver Forecast - Major Buy Signal
	We believe silver prices confirmed a bullish breakout in July 2020. . . AG Thorson
	World May Be Running Out Of Gold With Mine Production In Decline
	While uncertainty created by the global pandemic has sparked a surge in gold buying, analysts are raising concerns. . . Business News

Last Monday, Gold hit a low of $1,848 in early morning trading. Then we saw a rally from bargain buyers. As the week progressed, the Gold price moved higher based on a weaker U.S. Dollar Index (dropping below 94) and a disappointing September payroll number. The US Department of Labor reported that the unemployment rate is still high at 7.9%.

After the Tuesday presidential debate, the Gold price moved back above $1,900, reaching a high of $1,910 on Thursday. On Friday, after it was disclosed that the President was diagnosed with the coronavirus, Gold and the financial markets initially dropped. Gold reached a low of $1,887 on Friday but rallied sharply to a high of $1,916. Gold closed the week on Friday at $1,901, up $41 for the week.

The question right now is what’s short-term bullish for the Gold price? Clearly, a continued drop in the U.S. Dollar Index and passage of a COVID-19 stimulus legislation should be bullish for the price of Gold.

Two other questions that are difficult to answer are:

1. 1. How will the election polls and results impact the equities and Gold prices?

Many analysts and economists feel, regardless of who wins the election, equities will stay strong but we will see an industry rotation, but the general direction of the market should be higher as we move into an economic recovery. Many commodity professionals feel that regardless of who wins the election, the basic fundamentals are so strong that the price of Gold is heading higher.

1. 1. How does the President’s progress with coronavirus influence equities or the Gold price?

The feeling is that if the President does not recover quickly, it will cause the U.S. Dollar Index to drop. Which should negatively affect the equity markets but help the Gold price.

Today: Gold moved higher this morning based on a low U.S. Dollar Index and optimism for progress on U.S. stimulus talks this week between Treasury Secretary Mnuchin and Nancy Pelosi. After reaching a low of $1,886 in early Asian trading this morning, Gold rallied to a high of $1,919 before seeing light profit-taking.

Silver closed last Friday at $23.97 per ounce, up $0.95 for the week, and is still up $6.20 (34.77%) for the year. During the week, Silver reached a high of $24.48 on Tuesday, as Gold moved above the $1,900 level, but Silver had a difficult time closing above $24 per ounce. Based on the recent trading, I believe that Silver’s September 24th low of $21.75 was the bottom for this correction. Silver appears to have found excellent support above $23.50 and should move above $24 as Gold stays above $1,900 per ounce. The Silver-to-Gold ratio moved lower last week, closing last Friday at 79.39-to-1

Today: Silver rallied with Gold this morning after reaching a low of $23.63, Silver moved up $1 per ounce, breaking the $24 per ounce resistance level on good volume.

I’m proud to offer the October 2020 version of CoinStats, which has been updated with plus grades and other new features. CoinStats for October 2020 offers six different series: $20 Gold Saint Gaudens, $20 Gold Liberties, $10 Gold Indians, Morgan & Peace Silver Dollars, and the Walking Liberty Half Dollars.

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

One of the changes in the 2020 version of CoinStats is all the populations and prices are from PCGS; NGC populations have been omitted. The reason for this change is that over 80% of my clients only purchase PCGS coins, so I wanted to focus on PCGS data only. A new addition is information in increases in all PCGS grade populations from issue to issue, plus increases in popular PCGS Registries at the bottom of the Best Value page.