Gold & Silver Set New Lows And Start Moving Higher - October 2023 CoinStats

CLICK HERE FOR NEW Morgan Silver Dollars

CLICK HERE FOR NEW Peace Silver Dollars

CLICK HERE FOR NEW $20 Gold Saint Gaudens

	Central Bank Gold Demand Still Sizzling In August
	Central banks collectively increased their gold reserves in August for the third consecutive month.... Krishan Gopaul
	Silver Remains Choppy Around $21.00 Despite Weak US Job Data
	Silver price continues to trade sideways near $21.00 as the United States Automatic Data Processing (ADP) has reported that new private payrolls in September were almost half of the additions in August.... Sagar Dua
	Gold Glitters in China’s Financial Storm
	Against this backdrop, gold has emerged as a preferred investment alternative, acting as a hedge against financial volatility.... Frank Holmes
	Gold – Continues To Struggle Amid Hawkish Central Bank Warnings
	Gold is on course to extend its losing run to seven sessions, with the yellow metal down around half a percent following the US JOLTS report.... Craig Eriam

Last week’s U.S. economic data wasn’t showing any weakness in the economy. Wednesday’s ADP report on employment payroll showed growth of 89,000 jobs for September, higher than the original forecast. On Friday, the U.S. Labor Department reported that the September Nonfarm payroll showed 336,000 new jobs. They had originally anticipated 170,000 jobs. Both of these pieces of employment data are not showing a slowing U.S. economy. The Federal Reserve believes that the Nonfarm employment data is a key indicator for them when considering any increase in the Fed Funds rate.

During last week, Gold trading was very active with higher than average trading volume in most of the world’s largest commodity exchanges. Gold reached a low of $1,808 in early trading on Friday and a high of $1,850 at the start of the week. Gold closed the week at $1,830 per ounce, down $20 for the week, but up $22 from Friday’s low.

Both the U.S. Dollar Index and U.S. 10-Year Treasuries were in the news last week, traders were speculating as to how the Federal Reserve will react to the increases at their next meeting.

Today: The Israeli-Hamas conflict in Gaza and the potential of a war in the Middle East drove the price of Gold higher over the weekend. Gold rallied $25 in overseas trading on Saturday and Sunday.
As the precious metals rolled into the U.S. Gold held above the key $1,850 level.

Silver closed at $21.54 per ounce on Friday, down $0.64 per ounce for the week. Silver hit a low of $20.67, an 8-month low, last Thursday on the improvement in employment news.
Breaking below both the $22 and $21 support levels put Silver on the defensive with lots of bargain buying, while professional commodity traders short the market as Silver breaks below support levels.

The Silver-to-Gold ratio has increased to 85-to-1, still an excellent investment time.

Today: Silver rallied with Gold on the Israeli-Hamas conflict news, quickly rallying up $0.30 per ounce. Silver reached a high of $21.96 this morning before seeing some short-term profit taking.

I’m proud to provide the October 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 October 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 October 2023 version of CoinStats has all the populations and prices of the selected coins 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.

REMEMBER MY DAILY BLOG

If you want to get the update on what’s happening in the Gold, Silver, and rare coin markets any weekday, our company offers a daily blog Monday through Friday at www.stupplerblog.com