Gold & Silver Moving Higher - July CoinStats Available
Stuppler & Company is proud to provide our clients this Weekly Market Report (WMR). The report gives you my overview of the prior week’s precious metal and rare coin market activity and news. In each WMR I share the current status of Gold and Silver along with their support and resistance levels. |
This Week's Headlines: |
Last Friday, the Federal Reserve reported that the U.S non-farm payrolls increased 1%, up 850,000 new jobs in June 2021. This positive economic news helped create fresh demand for Gold, rallying the price up $9 to close the week at $1,783. That was up $5.50 for the week, but June was not a good month for Gold owners, as it dropped $125 for the month. However, July has been a better month for Gold owners. Gold was up $162 last year, during the month of July.
As I have said a few times, Gold needs to move back above the key $1,800 level to keep professional commodity traders believing Gold’s bullish long-term direction is much higher. In European trading last night, Gold moved above the $1,800 level, reaching $1,816 before seeing some light profit taking.
Today: As the U.S. Dollar lost value in overnight trading, reaching 92, the price of Gold kept on rallying, hitting a high of $1,816 per ounce. When the Dollar Index started rallying back, the price of Gold lost value, but held the $1,800 per ounce support level.
Silver has continued to show better demand and price support than Gold. Silver has firmly moved above the key $26 level, reaching a high of $26.88 per ounce in Asian and European trading last night. Being on the recent rally, I expect to see Silver test the $27 per ounce resistance level within the next week. Mints around the world continue to report shortages of physical Silver and are lowering or canceling mintages of popular Silver investment coins. The Silver-to-Gold ratio has raised to 67.34-to-1.
Today: As Gold was moving higher, Silver reached a high of $26.88 per ounce. Then when Gold sold off, Silver came down to find support in the $26.25 level.
I’m proud to provide the July 2021 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 2021 are 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.
The July 2021 version of CoinStats has all the populations and prices from PCGS. NGC populations and registry information has 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 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.