Gold & Silver Testing Support Levels – January 2021 CoinStats

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	India's Gold Discounts Jump; Prices Surge To Record Peaks
	Physical gold discounts in India widened to their highest in almost three years this week as local prices surged to record peaks. . . .Recorder Report
	Gold Gains On Dovish Comments from Fed's Powell
	Gold prices rose after comments by U.S. Federal Reserve Chair Jerome Powell cemented hopes around a lower interest rate environment. . . .Reuters
	Is Silver Beginning A Bull Market Swing?
	Short term weakness in global silver prices could be giving way to long term strength. . . .Ben Hernandez
	Average Silver Price By Year-End Is $38, Most Popular Vote Is $50
	Kitco's silver survey results are in, and the average response to "where do you see silver prices at the end of 2021" was $38 an ounce. . . .Anna Golubova
	2021 Auto Demand Key To Palladium Usage Recovery: Analysts
	Strong palladium demand from the automotive sector in 2021 is central to an overall recovery in global demand. . . .Filip Warwick

Last Friday, Gold closed on its 2021 low of $1,829 per ounce, down $63 from the beginning of the year. An upturn in the values of the U.S. dollar (90.70) and the 10-Year Treasuries (1.15%) contributed to the sell-off in Gold. Other negative news last week included the disappointing December retail sales and the declining Producer Price Index provided a bearish look at the precious metals. During Monday morning trading in Asia and Europe, Gold reached a low of $1,801 before seeing sizable bargain buying in late European trading.

On Wednesday, Joe Biden will be our next president, and the question being asked is how quickly he’ll have the $1.9 trillion COVID-19 relief package signed into law. Biden has made it clear that he is planning a 10-day blitz of executive action on what his administration is calling the “four crises” facing the country — COVID-19, the economic downturn, racial injustice, and climate change. Hopefully, he’ll call for the Defense Production Act to help the country with the COVID-19 crisis. Maybe that will help with his goal of 100 million vaccine injections in his first 100 Days.

The major fundamentals still favor much higher Gold prices. The U.S. dollar is heading lower as trillions of dollars’ worth of stimulus are on the way, and the Federal Reserve continues to be accommodating to the financial markets. The current Gold price represents an extraordinary opportunity, as I continue to believe we will see Gold at $2,200 by March and $2,500 by year-end, another $600 increase for 2021.

Today: This morning on Asian and European commodity exchanges opened higher on excellent volume. The Gold price reached $1,844 per ounce before seeing light selling.

Last Friday, Silver closed at $24.82 per ounce, down $1.46 from the beginning of 2021. But that isn’t the worst of it. Silver reached $24.04 in early Monday morning trading in Asian markets. Like Gold, when Silver trading moved into the European markets, it rallied back to $24.76 and then moved back over $25 in overnight trading on Tuesday morning. The Silver-to-Gold ratio has increased to 73.59-to-1.

Today: Silver quickly moved back above the key $25 level in early Asian and European trading and stayed there as the U.S. markets opened. Silver reached a high of $25.41 before seeing light selling.

I’m proud to offer the January 2021 version of CoinStats, which has been updated with plus grades and other new features. CoinStats for January 2021 offers six different series: $20 Gold Saint Gaudens, $20 Gold Liberties, $10 Gold Indians, Morgan & Peace Silver Dollars, and the Walking Liberty Half Dollars.

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 and Silver U.S. rare coins, dated prior to 1948, which have a proven track record of appreciation and also offer excellent liquidity.

The January 2021 version of CoinStats has all the populations and prices from PCGS. NGC populations and registry information have been omitted. The reason for this change is over 80% of my clients only purchase PCGS coins, so I wanted to focus on PCGS data only. A new addition is information in increases in all PCGS grade populations from issue to issue, plus increases in popular PCGS Registries at the bottom of the Best Value page.