Gold & Silver Make New 2022 Lows As Dollar Soars - May CoinStats Available

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	Silver Dropping Below Multi-Year Range Support Levels
	Silver prices are facing two significant problems from the fundamental perspective . . . . Christopher Vecchio
	Gold Price Continues To Struggle As PPI Hints That Inflation Might Have Peaked
	The gold market continues to struggle to attract bullish momentum and signs that inflation pressure . . . . Neils Christensen
	Why Demand For Gold Is Rising
	Demand for gold rose significantly in the first quarter this year, rising on the back of strong investment flows in gold ETFs . . . . Noelle Boughton
	Inflation More Than Doubled From March 2021 And March 2022
	The annual rate of inflation worldwide, as measured by the consumer price index (CPI), accelerated to 9.2 . . . . Valentina Stoevska
	Which Nations Have Been Buying Gold?
	The U.S., Germany, Italy, France, Russia, China, Switzerland, Japan, India and the Netherlands hold the highest gold . . . . Prableen Bajpai

The strong U.S. Dollar continued to put pressure on Gold/Silver last week. The U.S. Dollar Index at 105 is a 20-Year high and is causing problems with our nation’s exports and will affect our trade deficit. On Friday, Gold reached a low of $1,798 before seeing a solid high volume rally, with Gold closing at $1,808, down $74 for the week. The 2022 low for Gold was $1,778, reached on January 28, and Gold rallied over $100 in 30 days.

Last Thursday morning, the U.S. Labor Department released the Producer Price Index (PPI) for April. This index only rose 0.5%, compared to March’s 1.6% increase, but the annual rate has increased to 11%. This bullish news was outweighed by the strong U.S. Dollar, which caused Gold to sell-off by day end.

Today: Gold reached a low of $1,787 in early morning Asian trading, but rallied back above the key $1,800 level in European trading. When the U.S. commodity markets opened, Gold moved higher.

Silver got hammered hard last week on the increase in the U.S. Dollar and fall in the Gold price. Silver reached a low of $20.42 in early trading on Friday, before rallying back above $21.00 per ounce before the close. One of the indicators I use for the future direction of precious metals is the mining stocks. Mining stocks normally fall before the physical metal and futures markets and firm up and rally after the bottom has been reached. During inter-day trading on Friday, many of the mining stocks and funds that hold mining stocks turned higher and closed strong. Silver closed on Friday at $21.00, down $1.32 for the week. The Silver to Gold ratio also surged to an unbelievable 86-to-1.

Today: Silver also tested its $21 per ounce support level, reaching a low of $20.80, before quickly rallying back. When U.S. trading began, Silver moved up to the $21.40 level on heavy trading volume. Most of the popular Silver physical investment coins and bars still remain in short supply with premium staying strong.

I’m proud to provide the May 2022 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 May 2022 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 and Silver U.S. rare coins, dated prior to 1948, which have a proven track record of appreciation and also offer excellent liquidity.

The May 2022 version of CoinStats has all of 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. 2022 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.

On Friday, I’m heading to Europe for vacation. However, I have a phone, computer, and internet access, so I’ll be staying in contact with the office. But, I will not be doing a Weekly Market Report for the next three weeks. Please email me if you can't wait as I’ll be 10 hours ahead, otherwise contact my son David at the office.