Gold/Silver Prices Breaking Out - Last Chance For Gold/Silver Tax Write-Off
Current Rare Coin Listings Updated
Current listings for Morgan Dollars
Current listings for Peace Dollars
Current listings for $20 Gold Saints
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Since the beginning of the month, the DJIA has dropped an unbelievable 3,700 points. Trillions of Dollars have been lost in the past three weeks on this primary equity market. During the same period, interest rates on the 10-Year Treasuries dropped 20 basis points. During that period of time, the Gold price increased $40 to $1,269 (3.5%) and Silver rallied $0.55 to $14.75 (3.75%) per ounce.
Both Gold and Silver are clearly showing the reason why they are called safe haven investments. This volatility in the stock and bond markets, combined with the many political reasons that the government has been shut down, are driving global demand for precious metals. The decision last week, by the Federal Reserve, to raise the fed fund rate by ¼ of a percent and to slow down interest rate increases next year was bullish for Gold. I look for a short period of time for Gold to consolidate its recent breakout and trade in the $1,260 to $1,275 resistance level. Then, it will be onward and upward the next major resistance level of $1,300 per ounce.
Today: Strong overnight buying for Gold in Asian market drove the price of Gold above the major resistance level of $1,275 per ounce. U.S. 10-Year Treasury yield dropping to 2.74%, the lowest level since April 2018 was helpful to the rally.
Silver closed at $14.75 on Monday, up $0.24 per ounce since Friday Dec. 14th. The $14.50 per ounce support level appears to have held up and Silver is well on its way to the next resistance level of $15. The Silver-to-Gold ratio has increased to the 85.57-to-1 level.
Today: Silver exploded above the key $15 per ounce resistance level. Silver, finally made the long-awaited breakout reaching a high this morning of $15.15, up a whopping $0.40 per ounce.
If you purchased Gold or Silver coins/bars in 2011 to 2013 and currently have a sizeable loss, you can sell them for a long-term capital loss. This would be beneficial if you have sold stocks, real estate or other long-term investments this year for a gain. You would off-set the gain and save taxes when you file your tax report in April. You can purchase back your Gold or Silver coins after 30 days and you would lower your basis. I strongly recommend you contact your tax professional to consider this option. This is a very popular strategy our clients have taken advantage of in the past few years.
We are excited to announce that we are accepting orders for 2019 U.S. minted Gold, Silver and Platinum coins. These uncirculated coins are offered in PCGS and NGC certified holder, as well as uncertified and sets. The one-ounce Silver eagles are offered in 500-piece Green Monster boxes or in smaller quantities. To see all of the Pre-sale items, please click on the following link.
Precious Metal commitment: Minimum of 40% of investment capital
Diversification: Gold 60%, Silver 30%, Platinum & Palladium 10%
Diversification includes 50% in long term investment quality rare coins and 50% short term bullion products.
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All statements, opinions, pricing, and ideas herein are believed to be reliable, truthful and accurate to the best of the 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.