Gold & Silver Testing Support – New 2023 Platinum Eagle
| 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. |
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This Week's Headlines: |
On November 3rd, 2022, Gold reached a 2022 low of $1,618 per ounce. Based on lower expectations of inflation numbers and the Federal Reserve slowing down the interest rate increases, Gold quickly rallied. Gold reached a high of $1,962 on February 2nd, 2023, before January’s high CPI numbers and a low U.S. unemployment report showing a drop to a 53-year low were released. Gold closed on Friday at $1,840 per ounce, down $24 for the week and down $135 from the February 2nd high. The recent decline in the Gold price should find major support above the $1,800 level and could work its way back to $1,900 soon.
Over the long holiday weekend, Gold firmed up after a three-week slump. Expectations that the Federal Reserve will keep raising interest rates beyond 5% to stem rising inflation is putting pressure on Gold demand.
A series of positive economic reports and two inflation reports showing that the costs of goods and services to both consumers and producers continued to rise in January were released. These reports lent weight to speculation that rate hikes could proceed without damaging growth.
Today: Gold traded today between $1,833 and $1,845 per ounce, as the base building continues. Other factors that affect the Gold price are interest rates moving higher around the world, except in China, and a stronger U.S. Dollar.
Silver's recent rally and decline have been more volatile than Gold, from a low of $17.40 to a high of $24.70 per ounce. Last week, Silver reached a low of $21.30 and closed Friday at $21.62, down $0.40 per ounce. With many of the world’s largest mints releasing their popular 2023 Silver coins, demand has been growing. Over the past three weeks, the Silver-to-Gold ratio has soared to over 85-to-1.
Today: Silver is showing better price support than Gold today. Silver has traded above and below the key $22 level today, with excellent fresh demand. Today’s trading isn’t surprising as Silver was more over-sold then Gold earlier this month.
The U.S. Mint is releasing the 2023 Proof Platinum Eagles next week. We fully expect to offer these coins to you, our valued clients, for pre-order once our allocations are confirmed by the US Mint. Just as our other Pre-Order requests, we expect to offer competitive pricing to our valued clients and want to confirm your request for these coins. Simply let us know which of the coins below you wish to purchase and we will confirm your purchase at our wholesale pricing, before they are listed online at higher prices!
1. 2023 Proof Platinum Eagle w/ Gov’t Packaging (Including a Free 2023 Silver Eagle BU Bonus!)
2. 2023 Proof Platinum Eagle PCGS PR70DCAM First Strike w/Gov’t Packaging
3. 2023 Proof Platinum Eagle PCGS PR70DCAM First Day of Issue w/Gov’t Packaging
4. 2023 Proof Platinum Eagle NGC PF70UCAM Early Releases w/Gov’t Packaging
5. 2023 Proof Platinum Eagle NGC PF70UCAM First Day of Issue w/Gov’t Packaging
ALL PROOF 70 GRADED COINS ARE OFFERED WITH OUR EXCLUSIVE LOWEST PRICE GAURANTEE!*
Just let us know which coin(s) you wish to purchase by emailing [email protected] and we will contact you directly once they are available at our wholesale pricing.
We believe our wholesale price is the best price available, and that is why our current clients keep coming back to complete their collections. Plus, there is no cost to make a request.
Anyone who has already made a request need not reply to this message. If you have any other specific labeling requests, please contact [email protected]
*Details of our Lowest Price Guarantee will be explained in the official offering.












