Gold & Silver Tested The Lows And Now Starting A Bullish Rally

	Goldman Sachs: Views On The US Economy And Gold
	Goldman Sachs (GS) Chief Operating Officer John Waldron believes that the US GDP growth rate could improve next year . . . . Rabindra Samanta (Read More)
	Gold And Silver Score Gains Hit New Daily Highs Post-FOMC
	Gold and silver prices are higher and have hit new highs for the day in afternoon U.S. trading Wednesday. Some short covering in the futures markets . . . . Jim Wycoff (Read More)

Back to top of report

CLICK HERE FOR NEW Morgan Silver Dollars

CLICK HERE FOR NEW Peace Silver Dollars

CLICK HERE FOR NEW $20 Gold Saint Gaudens

Back to top of report

The big news that helped determine the direction of the financial markets last week was the U.S.-Chinese trade deal and the British Brexit vote. On Friday, it was released that Trump agreed to a phase-one trade deal with China, preventing scheduled tariffs. Also, Great Britain held a vote, which gave the government direction on proceeding with the Brexit from the European community. Both these issues were the primary cause of the recent uncertainty in the financial markets.

After the news was announced, the U.S. Dow Jones Industrial average rallied, reaching an All-Time high. Surprisingly, the Gold price moved higher on excellent demand, up $16 per ounce, reaching the high for the week of $1,475 per ounce. There was one piece of economic news released Friday that was bullish for Gold. The November U.S. Retail sales figures were released showing an increase of only 0.2%, economist were expecting 0.5%.

The Gold and Silver fundamentals have never looked better. I continue to believe we will have a year-end rally in the precious metal markets, and Gold at the current price is an unbelievable value.

Today:
Gold is trading in a tight $7 range between $1,472 and $1,479 per ounce today. The U.S. Dollar weakened as traders and investors await more details on the U.S. – Chinese phase one of the trade deal.

Back to top of report

Like Gold, Silver closed the week at its highest, which was $16.90 per ounce, up $0.42. After testing the low of $16.50 last week, Silver needs to continue the rally and move firmly above the key $17 per ounce resistance level this week. The Silver-to-Gold ratio decreased to 87.07-to-1 per ounce.

Today: Silver reached a high of $17.06 in Asian trading this morning, then sold off as it came west. For the most part of today’s trading, Silver has been above and below the key $17 per ounce level.

Back to top of report

Back to top of report

REMEMBER THE BLOG

If you want to be updated on what is happening in the Gold, Silver, and Rare Coin markets any weekday, our company offers a daily blog Monday through Friday at www.stupplerblog.com

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.

Back to top of report