Gold & Silver Testing Key Support Levels –Rare Coin Report

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	Global Silver Demand Surged 19% in 2021
	All Key Demand Sectors Grew Together for First Time in Nearly 25 Years . . . . The Silver Institute
	Gold Beaten Down By Growth-Related Fears
	Sustained demand for the American currency has pushed the gold price to a fresh multi-week low . . . . Premium ANALYSIS
	What The Hell Is Going On With Gold?
	Not a lot, is the short answer to the question what is going on in gold . . . . Investing Haven
	India - The Jewel In The Crown Of Gold Demand
	Gold jewelry demand in India has rebounded following the loosening of pandemic restrictions . . . . Indrabati Lahiri

Gold started 2022 at $1,825 per ounce and the U.S. Dollar Index was trading at 90. Last Friday, Gold closed at $1,900, down $30 per ounce. Gold has increased $75 per ounce (4%) this year and the U.S. Dollar Index increased 15% to 103.50 this year. If the value of the U.S. Dollar was the same as the beginning of the year, the Gold price would be $2,185 per ounce. As Americans, we look at the value of Gold in Dollars, but Europeans and Asians look at the price of Gold in Euros, Yen, and Yuan and it’s currently trading at an all-time high.

This is a major problem for the Dollar valued Gold price. With this year’s strength of the U.S. Dollar, which is trading at a 20-Year high, Gold is at a record high around the world, but we are seeing sizeable profit taking on non-Dollar denominated precious metal marketplaces.
That fact, combined with interest rates moving higher around the world, puts pressure on the Gold price every time it breaks above the key $2,000 level.

With the inflation rate rising at a record pace around the world and supply problems being caused by the war in Ukraine, I believe this pressure on the Gold price will end soon. I believe this week’s Federal Reserve meeting could cause the end of the bearish market in precious metals.

Today: The Gold price got hit this morning in Asian markets and stayed on the defensive as trading in European and U.S. Gold markets reached a low of $1,853 (a 2-month low) before seeing some short-covering and fresh buying. A strong U.S. Dollar continues to keep pressure on the Gold price.

Last week, Silver got badly hit, dropping through both the $24 and $23 resistance levels. I believe the Silver price overreacted to the drop in Gold price and the strength of the U.S. Dollar. At last Friday’s close, Silver was trading at $22.94 per ounce, down $1.29. The Silver to Gold ratio also surged to an unbelievable 82-to-1.

Today: Silver reached a low of $22.05 in European trading this morning, before seeing short-covering. At this price, demand remains strong for the popular Silver investment items, and premiums aren’t dropping.

Last week I was at Schaumburg, Illinois, attending the Central States Numismatic Society’s Coin Convention. This was the first major trade show I have attended in two years and I wasn’t disappointed. Over 200 major rare coin dealers attended the show and over a thousand collectors and investors.

High Grade PCGS/NGC certified rare coins were in short supply. Many of the dealers were very aggressive buyers to help both their collector and investor clients. U.S. Gold $20 and Gold type coins were especially in demand. Higher quality Morgan and Peace Silver Dollars were in short supply and dealers were offering more than recent auction sales. On the whole, it appears the U.S. rare coin market is very healthy and in a bullish growth cycle.

On Thursday May 12th, the U.S. Mint will be releasing the 2022 Proof Gold Buffalo. Given all the requests we are starting to receive, we wanted to let you know that we do expect to have an allocation of these coins available for sale at this point and time. There are still some details we are working with the Mint on and want to confirm how quickly/smoothly the process will be to offer and ship the coins, but from what we are seeing, we expect these issues to be minor.

Based on this limited information and us confirming our allocations with the U.S. Mint, we will be able to offer them for Pre-Sale with our Exclusive Lowest Price Guarantee (details will be explained in our Pre-Order Email), which should be sent out within the next couple weeks. We will accept Pre-Orders as soon as we’re able to secure product and offer pricing. We expect to have at least the following options available for pre-order.

1. Ungraded in Original Mint Packaging (w/ a Bonus Silver Buffalo Round included Free)
2. PCGS PR70DCAM First Strike, First Day of Issue, and Advanced Release (w/ Our Exclusive Lowest Price Guarantee!)
3. NGC PF70UCAM Early Release, First Release, and First Day of Issue (w/ Our Exclusive Lowest Price Guarantee!)

Please email us with the coin you wish to pre-order and include details about PCGS/NGC, Label Design (If known), and type of Designation (I.E. First Strike, Early Release, First Day of Issue, and so on). When able, just email [email protected] with your request, but if you have any questions about what may be best, please don’t hesitate to contact myself ([email protected]) or the Wholesale Trading department ([email protected]) with any questions. Thank you.