Gold/Silver Testing Support Again Before The Next Leg Higher

	Silver Continues To Gain In Tight Market
	The rarThe rarity of both precious metals becomes apparent when we consider how little gold and silver have been . . . . Rick Mills (Read More)
	Silver Price Forecast – Silver Markets Find Support
	Silver markets initially fell during the trading session on Thursday but continue to find support along this . . . . Christopher Lewis (Read More)
	Twenty Years Of The Central Bank Gold Agreement Comes To An End Today
	Today marks the end of the final Central Bank Gold Agreement (CBGA). Over the last twenty years, the agreement . . . . John Reade of WGC (Read More)
	Why Investors Should Be Bullish On Gold
	We recently heard from the European Central Bank in what was President Mario Draghi’s final meeting as the . . . . ETF Daily News Commodities (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

Last week, as the financial markets were consumed by the whistle-blower and impeachment news, the Gold market traded around the $1,500 per ounce level. On Friday, Gold closed at $1,498 per ounce, down $8 for the week. Gold held its price level last week in the face of a higher U.S. Dollar Index (new 2019 high) and movement on a new trade deal with the Chinese.
September was clearly a base building month for Gold. It is very important for Gold to build a great foundation for the short-term, so Gold can break above the recent high of $1,550 as we attempt to hit $1,600 in October.

The big question financial analysts are asking is how will the whistle-blower’s testimony and an impeachment investigation by Congress affect all financial markets? If this results in a freeze on future legislation coming out of Congress for the balance of 2019 and 2020, how will financial markets and precious metal prices react?

I believe impeachment headlines will continue to dominate the news cycle, but it is important to remember that unless the Democrats are able to convince many Republican senators to vote yes, he will never be impeached. Therefore, the financial markets will probably look past all of these political headlines. However, economic issues, especially those pertaining to debt and the U.S. Dollar, along with geopolitical issues, i.e. Iran, North Korea and China trade issues, will drive the financial and precious metal markets direction.

Today: This morning a stronger U.S. Dollar Index combined with talk of the Trump administration considering ways to limit U.S. money going into China has driven the precious metal markets lower. Gold is testing the $1,470 per ounce support level

Back to top of report

The Silver price volatility last week was sizeable, as Silver reached a high of $18.68 to a low of $17.25 per ounce. Silver closed the week at $17.55, down $0.18 for the week. The Silver-to-Gold ratio increased to 85.34-to-1 last week

During the past three weeks, Silver has not been the precious metal price leader. Gold has assumed that role, but I believe it’s about to change back to Silver. I believe we will see the high volatility continue in the Silver market, as it works its trades between $17 and $20 per ounce this year. It is believed that JP Morgan has acquired about one billion ounces of Silver, and there is no indication that they have sold any recently. It’s not clear who is the owner of this $20 Billion worth of Silver, a country or a large financial institution, but they have significant control of the world’s Silver price.

Today: The Silver price reached a low of $17.02 this morning, just above the important $17 per ounce support level. We are seeing increased demand for physical Silver investment products.

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