Gold & Silver Move Sharply Higher – July CoinStats Available

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	Dollar Collapses, Stocks and Gold Shine After Inflation Data
	A ‘cold’ US inflation report sent shockwaves across global markets yesterday, as investors reassessed the path for interest rates. . . . XM Group
	June Inflation Data May Have Pushed Fed Over The Mountaintop
	A year after U.S. inflation peaked and touched off an aggressive turn in monetary policy, Federal Reserve officials may be opening a more encouraging chapter in their policy discussion . . . .Reuters
	Inflation Nearly Stopped Altogether In June Producer Price Index
	Inflation as measured by the producer price index fell to a 0.1% annual rate in June, a surprising result showing prices have nearly stopped increasing altogether . . . . Zachary Halaschak
	Wall St Cheers Cool CPI With Stock Surge, Dollar And Yield Decline
	Wall Street stocks surged on Wednesday and the dollar and Treasury yields fell after new inflation data showed a slowdown in the seemingly relentless rise of U.S. consumer prices. . . . Reuters
	Gold Gallops To $1,950 As US Inflation Softens Beyond Expectations
	Gold price has displayed a stellar run as the United States Bureau of Labor Statistics has reported softer-than-expected June Consumer Price Index (CPI) data. . . . Sagar Dua
	Repatriation Of Gold Reserves On The Rise Amid Rising Geopolitical Tensions
	An increasing number of countries are repatriating gold reserves as protection against the sort of sanctions imposed by the West on Russia . . . . Reuters
	Silver Faces ‘Unprecedented’ Shortages As Demand Outpaces Supply
	The recent annual report on the metal from the Washington-based Silver Institute shows . . . . Robin Bromby

Last week, the Gold price firmed up and moved back above the key $1,950 resistance level on strong demand. Gold closed on Friday at $1,956 per ounce, up $31 on excellent trading volume, staying above the important $1,950 level crucial for the short-term direction of the Gold price.

The release of a weak Consumer Price Index (CPI) and Producers Price Index (PPI) showed a solid reduction in inflation and was bullish for precious metals. The U.S. Labor Department released the CPI for June, and Gold jumped $20 immediately. The CPI gained just 0.2% for June which was below expectations and the lowest rate in over 2-years. The Producer Price Index (PPI) was reported for June also last week, and it was surprisingly low, showing an increase of only 0.1%. Both the CPI and PPI reports caused the value of the U.S. Dollar Index (under 100) to decline sharply, while precious metals moved higher.

The next Federal Reserve Open Market Committee two-day meeting is scheduled for July 25-26. Before last week’s CPI and PPI report, it was expected that the Fed would raise the Fed Fund rate by 1/4%. Now, many market analysts feel that they may not increase the Fed Funds rate. No increase would be very bullish for both Gold and Silver prices.

Today: This morning, during European trading, Gold reached a low of $1,945, $5 below the $1,950 support level. As the Gold market rolled into the U.S. Gold rallied back above the $1,950 level as the U.S. Dollar Index moved back below 100.

A combination of increased world mint production and a normal summer slump in demand, have caused premiums on many of the popular Silver coins to drop. The premium on the very popular U.S. Silver Eagle is now at spot Silver plus only $7 per ounce.

Today: Silver is trading between $24.50 and $25 per ounce, as it builds a firm base after last week’s big increase. After last week’s rally in the Silver price, the Silver-to-Gold ratio has dropped to below 90-to-1.

I’m proud to provide the July 2023 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 July 2023 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 also offer excellent liquidity.

The July 2023 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. 2023 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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