Gold & Silver Testing Key Support Levels

 

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.

 

Current Rare Coin Listings Updated

 

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$20 Gold Saint Gaudens

 


Recent Informative Articles On Gold & Silver

 

The Case For Silver
Silver, like gold, is a precious metal that offers investors protection during times of economic and political uncertainty. . . . Rick Mills
Gold Is Money: Everything Else Is Credit
Throughout the better part of 2022 there has been one question that has consistently, and predictably, popped up in conversations with my friends, clients and readers. . . Claudio Grass
The Tale of the Hunt Brothers and Silver
Short selling is a financial strategy in which investors bet against a particular asset, hoping to profit from a decline in its price. While this can be a risky and controversial tactic, it is widely used as a profitable trading strategy. . . .Jordan Milkovich

A Silver Price Forecast For 2023 The price of silver will move to our first bullish target of 34.70 USD in 2023. We see a test of 48 USD soon after, not later than 2024. . . .Forecasts
A Respected Analyst Is Calling for $3,000 Gold Next Year. I Believe It Could Hit $4,000
Will 2023 be the year that gold hits $3,000 an ounce? . . . .Frank Holmes
Gold Is Better Portfolio Diversifier Than Bitcoin
Goldman Sachs expects gold, with its real demand drivers, to outperform the highly volatile bitcoin in the long term, the bank wrote in a Monday research note. . . .Reuters

 

This Week's Headlines:

 

Gold

Silver

Pre-Sale

Recommended Investment Commitment and Diversification

 

Gold

 

Last Wednesday, the Federal Reserve confirmed the expected ½ point increase in the Fed funds rate. After the announcement and during the press conference, Chairman Powell was very hawkish about further interest rate increases in the near future. His statements had a very negative effect on all the financial and precious metal markets in late Wednesday trading and Thursday.

Gold dropped over $40 from Tuesday’s highs, reaching a low of $1,773 before seeing sizeable investor and central bank buying. By Friday, Gold had regained its recent bullish rally and closed at $1,791 per ounce, still down $19.70 for the week. This will be a record year for central bank buying of Gold to build their reserves in light of the devaluement of many of the world’s leading currencies. Surprisingly, the U.S. Dollar and 10-Year Treasury interest rates made no significant increase after the Fed announcements.

Today: Gold has traded this morning between $1,784 and 1,799 per ounce, as it builds support for the next move above $1,800. The U.S. Dollar and 10-Year Treasury rates moved higher in early trading putting pressure on the Gold price.

Silver

 

The Silver price also had a very volatile week, with a low of $22.57 and a high of $24 per ounce. Silver closed last Friday at $23.22, down $0.44 for the week.

The fundamentals for considering an investment in physical Silver have never looked better.
Over the years, I’ve provided information on Silver consumption from investment demand, solar, jewelry, photography, industrial and Silverware, but I just read an extraordinary article that provides updated information on all the reasons you need to invest in Silver. The article is called “The Case for Silver” and I have provided a link above. It’s a lengthy article and you would need at least 30 minutes to read and understand the various components. Let me know what you think.

Today: When Gold reached its lows this morning, Silver couldn’t hold above the key $23 support level.
Silver reached low of $22.82 before finding bargain buying and is moving toward the $23 area right now.

Pre-Sale

 

Now Available for Pre-Order are the brand new 2023 Silver and Gold American Eagles and Gold Buffalo! Lock in your order for 2023 U.S. Gold Eagles, U.S. Silver Eagles, and U.S. Gold Buffalos in PCGS MS70 First Strike, NGC MS70 Early Release, or in BU Condition (full list in link below) at today's low Gold and Silver prices!

Pre-Order 2023 Gold/Silver Eagles and Gold Buffalo

Anticipated delivery of these coins is approximately mid January for Gold BU items, mid to late-January for Silver BU items, and late-January to early-February for MS70 Gold/Silver items. (based on U.S. Mint release dates and PCGS/NGC turn-around times).

2023 1oz Gold and Silver Eagles and Gold Buffalos in BU condition or PCGS/NGC First Strike/Early Releases are now available for pre-order at today's low Gold and Silver prices.

This offer is available for a limited time by clicking the links above, calling 888-454-0444, or emailing [email protected] / [email protected]. Premiums and availabilty subject to change based on current market conditions.

For special label requests please call 888-454-0444 or email [email protected].

Act now! Pre-order quantities are limited. Call 888-454-0444 or e-mailing [email protected] / [email protected] to order today.

Recommended Investment
Commitment and Diversification

Minimum of 30-40% of your available investment capital

Diversification includes 30% in long term investment quality rare coins

and 70% short term bullion products, divided into

45% Gold, 50% Silver, and 5% Platinum & Palladium

 

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