Gold & Silver Back On The Bullish Track – 2020 Burnished Gold Eagle Coming

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	Reflation Story To Be Supportive For Gold Next Year Targeting $2,300 - Goldman Sachs
	The firm says that while gold may trade more rangebound in the next few months, there will be further upside in bullion. . . . Justin Low
	All That Glitters – Surveying Central Banks On Gold Reserves
	The joint Central Banking-Invesco gold survey, conducted in August & September 2020, provides. . . . Central Banking
	COVID-19 Vaccine Improves Outlook, Yet Gold Remains Relevant
	It’s been an eventful week to say the least . . . . Juan Carlos Artigas
	Silver Price Falls 7% On Vaccine News
	Silver tumbled more than 7% on Monday as precious metals sold off in response to positive coronavirus vaccine news. . . . Anna Golubova, Kitco News
	Gold Plunges 5% As Stocks Soar on COVID-19 Vaccine Euphoria
	Gold slumped more than 5% on Monday as news of the first successful late-stage COVID-19 vaccine trials. . . . Sumita Layek

Last week started with Gold dropping $97 on Monday after the release of the coronavirus vaccine news from Pfizer Inc. who said its experimental COVID-19 vaccine is more than 90% effective. This announcement gave the world’s financial markets a stroke of confidence that we have a roadmap to the end of this pandemic. So, many professional traders, mutual fund managers, and hedge fund managers started to buy undervalued stocks that were beaten-up this year. Buying airlines, hotel chains, restaurants, and cruise lines were high on that list of stocks. At the same time, they sold “stay at home” stocks and precious metals.

Let’s recap last week’s Gold trading: Friday, November 6, Gold closed at $1,951 per ounce. On Monday morning November 9, Gold reached a high of $1,965 in early Asian and European trading. Then came vaccine news and Gold quickly dropped to the $1,900 support level. When Gold couldn’t hold the $1,900 level, I saw massive short-selling on record-high trading volume. Gold then reached a low of $1,848, before traders started covering their earlier short sales. Gold closed on Monday, November 9 just above the key long-term $1,850 support level. During the rest of the week, Gold saw bargain buying, closing last Friday at $1,885 per ounce, down $65 for the week. I expect to see Gold move back above the key $1,900 level early this week.

Since August 22, Gold has traded above $1,850 per ounce, building a strong platform for the next rally. Almost three months is a long period of base building, which indicates to me the next leg higher will be strong. Estimates range from $2,300 to $2,500 for the Gold price by early 2021. Passage of the next legislative coronavirus stimulus bill, which could be between $2-3 trillion dollars, will start that Gold rally.

Today: This morning we heard and reacted to another COVID-19 vaccine announcement. Moderna issued a press release saying they have a vaccine in stage 3 testing that is 94.5% effective. This vaccine also doesn’t require very low temperatures like the Pfizer vaccine. Initially, the Gold price declined $30 per ounce from its Asian high of $1,896 per ounce. But unlike last Monday, the Gold price quickly rallied back $25 per ounce.

Last week the Silver price was far more volatile than Gold. Silver reached a high of $26.14 per ounce in early Asian and European trading on Monday, November 9. Then the vaccine news hit as the U.S. markets opened, and the Silver price dropped a whopping $2.44 per ounce, to $23.70 per ounce on large trading volume. During the rest of the week, Silver moved back above the key $24 per ounce support level on fresh demand. Silver closed last Friday at $24.76 per ounce, down $0.88 per ounce for the week. The Silver-to-Gold ratio increased last week to 76.13-to-1.

Today: Silver, like Gold, reacted to the Moderna’s vaccine news with a sharp $1.00 decline but came roaring back to almost unchanged from last Friday’s close. It appears that precious metal investors aren’t seeing positive vaccine news as detrimental to precious metal prices.

On Thursday, November 19, at 9 am PST, the U.S. Mint has plans to officially release the new 2020 1oz Burnished Gold Eagle with a mintage of 7,000. After a terrible release of the WW2 Gold and Silver Eagles, we received several requests to pre-order this coin with a perfect grade of 70 by PCGS and/or NGC.

We will be offering pre-orders for both the 2020-W Burnished Gold Eagle PCGS SP70 First Strike, and the 2020-W Burnished Gold Eagle NGC MS70 Early Releases. We will also offer a 2020-W Burnished Gold Eagle in Government Packaging with a FREE Bonus. Please email us at [email protected] or [email protected] to let us know which coin you prefer. As soon as we’re able to confirm our orders with the U.S. Mint, we plan to offer the coins with our signature LOWEST PRICE GUARANTEE on a first-come, first-served basis (more details about our lowest price guarantee will be in the offering). Based on the U.S. Mint’s abilities this year, we expect to be contacting our clients with availability and pricing between November 23 to November 25.

Thank you Barry + David StupplerMintStateGold.com by Stuppler and Company [email protected] 1-888-454-0444
	Barry Stuppler Founder + President	David Stuppler Managing Director
All statements, opinions, pricing, and ideas herein are believed to be reliable, truthful and accurate to the best of 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.