GOLD & SILVER CONSOLIDATING ABOVE KEY SUPPORT LEVELS

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	Silver Attempts Recovery From $22.40 Lows Despite Tempered Fed Rate-Cut Bets
	Silver price (XAG/USD) recovers to near $22.70 as the US Dollar Index (DXY) struggles to extend recovery and Middle East tensions keep driving flows for safe-haven assets.... Sagar Dua
	China's Gold Market in 2023 Demand Improved And Premiums Rose
	China’s economic recovery in 2023 was not a smooth sail and consumers remained cautious in spending.... Ray Jia
	Gold Price Hit Lows As Fed Rate Cut Bets Ease After Upbeat US Retail Sales Data
	Gold price (XAU/USD) is expected to face more pressure as the United States Census Bureau has reported a strong Retail Sales data for December.... Sagar Dua
	Gold – Struggling Near Previous Record Highs And Showing Signs Of Weakness
	Gold is trading a little lower on Tuesday after bouncing higher once again in recent sessions.... Craig Erlam
	Gold Wobbles As Fed Rate Cut Speculations Intensify
	Rising dollar and Treasury yields pressure gold, as Fed speeches this week shape Gold short-term outlook.... James Hyerczyk
	Gold Edges Higher As US-led Airstrikes On Yemen Aid Haven Demand
	Gold edged higher as US-led airstrikes on Houthi rebel targets in Yemen boosted haven demand.... Sybilla Gross and Swansy Afonso

Most financial analysts felt in the first week of January that the Federal Reserve would start lowering interest rates in March. But, after key U.S. economic indicators were released during the past two weeks, showing lower unemployment and an increase in retail sales, that feeling has changed. While about 50% of analysts believed in December that we would see lower interest rates in March, now 90% believe that interest rates will start lowering in May. Remember, only weaker economic data will convince the Fed to start lowering rates. Lower interest rates are very bullish for the Gold price and that action will start the major rally.

At the beginning of 2024, Gold was trading between $2,050 and $2,080. In the past two weeks Gold has tested the key $2,000 support level and traded between $2,000 and $2,050 per ounce. Gold closed last Friday at $2,028 per ounce, down $20 for the week.

An important positive fact for Gold is that it has been above $2,000 per ounce for over five weeks. History has shown us that a long consolidation is an excellent indicator of price support. 2024 has started with strong physical and future demands for Gold and Gold investment products. India reported a 12% increase in Gold imports, from 715 metric tons to 800 metric tons in 2023.

Based upon many factors, including record-setting physical demand, geopolitical and economic issues, I believe 2024 will be a breakout year for Gold. My prediction for 2024 is that Gold will trade between $2,000 and $2,400 per ounce. With two wars, changing Federal Reserve policies, and an election coming, Gold should see a lot of price volatility. I expect to see demand for physical Gold bullion and investment coins pick up, and premiums should increase.

Today: Gold reached a low of $2,016 in early trading this morning. Gold’s recent weakness is based on continued concerns about delaying the timeline of the expected interest rate cuts by the Federal Reserve. Gold rallied back to $2,030 on strong bargain buying demand as the markets rolled out of London into the U.S.. During U.S. trading Gold has traded between $2,016 and $2,025 per ounce.

Silver started 2024 at $23.80 per ounce and has traded between $22.00 and $24.00 per ounce for the past three weeks. Silver closed last Friday at $22.63, down $0.57 for the week. Reports of physical 2023 Silver consumption are not looking good. India Silver bullion imports year-on-year declined by 65%. At the current 90-to-1 Silver-to-Gold ratio Silver is an outstanding value.

Today: In oversea markets and in the U.S. commodity markets Silver has traded between $21.90 and $22.59 per ounce. Silver appears to be finding strong demand and support above the key $22 per ounce support level.

I am proud to provide the January 2024 version of CoinStats free of charge for our clients. It has been updated with current prices and populations for regular and plus grades. Other features on CoinStats for January 2024 are 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 offers excellent liquidity.

The January 2024 version of CoinStats has all the 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 in the subject line with the series requested.

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