Gold Tests $1,800 Level – October 2021 CoinStats Available

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Last week we saw a lot of volatility in the precious metal markets. Gold was up $35 on Wednesday, briefly breaking the $1,800 resistance level on Thursday, and dropping $29 on Friday. Gold ended up $10.90 per ounce for the week, closing at $1,767 per ounce.

Last Wednesday it was reported that the September Consumer Price Index (CPI) jumped 5.3%, which was much more than what was originally projected, causing a positive move for all precious metals. Gold broke out above the recent $1,750-$1,765 range on this sign of coming inflation. Combining this sign of U.S. inflation with increasing inflation reported in Asia and Europe, Gold made its first attempt to break the $1,800 major resistance level on Thursday.

As we move into the Fall of 2021, traditionally a bullish season for precious metals, we are seeing a major increase in central bank and investor demand of Gold. China has already imported 1,256 tons of Gold this year, 55% higher than the same period of 2020. India has already stated its imports are higher than last year and it’s still in the Wedding Season, the highest Gold demand time of the year.

There are other bullish signs for Gold, as major depositories around the world are reporting heavy demand for physical precious metals causing shortages for exchanges. Many of the world’s largest mints, that are pulling precious metals from depositories, can’t get enough. These shortages are causing mints to produce less and get allocations for their most popular investment bullion coins. All of the signs point to higher prices for metals and higher premiums on the many popular Gold/Silver/Platinum coins.

Today: A strong U.S. Dollar (above 94) drives the Gold price down, briefly breaking the $1,765 support level. Excellent demand has provided good support to trade within the current trading area of $1,765 and $1,780 per ounce.

As strong inflationary news came out last week, the Silver price increased almost 3%, three times higher than Gold. Silver closed Friday at $23.33, up $0.65 per ounce on excellent trading volume.

One of the ways I monitor consumer demand for popular Gold and Silver coins is our Amazon sales. We offer hundreds of popular Gold and Silver coins and bars on Amazon (at much higher prices than mintstategold.com, because of Amazon fees). In September and October, the Amazon demand for many one ounce Silver coins and bars has increased dramatically.

In this week’s market report, I have provided an article called “Visualizing The Global Silver Supply Chain”. This is the most detailed article on the current Silver supply chain I have seen in years. The article is available by clicking on the above link.

The Gold-To-Silver ratio dropped to 75-to-1, a very attractive level.

Today: Silver sold off with Gold, testing the $23 support level, by reaching a low of $22.98 per ounce. Bargain buyers appeared at the today’s lows, quickly driving up the price by $0.20 per ounce.

I’m proud to provide the October 2021 version of CoinStats free of charge for our clients. It has been updated with current prices and populations for regular and plus grades. Other features on CoinStats for October 2021 are 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 October 2021 version of CoinStats has all the populations and prices from PCGS. NGC populations and registry information has been omitted. The reason for this change is that 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. If you wish to receive a copy of the current CoinStats, just reply in the subject line with the series requested.