Trade War with China rallies Gold $30 & Silver $0.40

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This Week’s Headlines:

Gold
Central Bank Gold Repatriation made headlines this week
Silver
It’s IRA investing time, we offer Precious Metal IRAs
Recommended investment commitment and diversification

GOLD

Last week was very exciting. The excitement started last Wednesday when the Federal Reserve Chairman, Jerome Powell, raised interest rates by a ¼ of a percent. Then, during the press conference that followed, he was very dovish about the economy and future interest rate hikes. Gold rallied $12 from the lows on Wednesday after Powell’s statement.

Then on Thursday, President Trump signed an executive order putting $60 billion worth of new tariffs on Chinese imports. The U.S. Stock Market (Dow Jones) dropped over 700 points and Gold rallied another $6, on top of the $12 Wednesday increase.

On Friday, in early Asian trading, Gold rallied $25 per ounce on top of Thursday’s U.S. increase. The Asian investors are concerned that there will be a Trade War with the United States. By the time the U.S. Markets opened, those concerns were supported by a drop in the U.S. Dollar, interest rates, and all of our equity markets. Then, the president signed a $1.3 trillion spending bill, which will be inflationary and increase our national debt, and the Dow Jones Industrial Average dropped another 420 points.

For the week, the Dow Jones dropped over 1,400 points and the U.S. Dollar index fell .76 points, while Gold and Silver rallied. Last Friday, Gold reached a high of $1,351 and closed at $1,349.80, up $38 per ounce for the week.

Today: Gold reached a high of $1,356 per ounce, above the key $1,350 resistance level. The sizeable demand came from Asian buyers, worried about the possibility of a Trade War with the United States. It’s important that Gold stays above the $1,350 level for the balance of the week.

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Central Bank Gold Repatriation made headlines this week

Based on concerns over the possibility of a U.S. Dollar collapse, countries are requesting the return of their Gold being held by the U.S. and Great Britain. This is called repatriation. Just this week, Hungary joined the growing list of countries that have demanded their physical Gold reserves returned to them. Other countries that have recently made this decision are Austria, Germany, and the Netherlands. For more details, read the following article: The Race to Repatriate Gold Reserves Accelerates

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SILVER

Last week, Silver made a new 2018 low of $16.04 per ounce on Wednesday, just before the Fed Chairman announced the ¼ point interest rate increase. After that, Silver followed Gold’s rally for the balance of the week, reaching a high of $16.62 per ounce. Silver closed the week at $16.52, up $0.31 per ounce. Silver needs to stay above the $16.50 level this week to regain a bullish sentiment with traders. Silver has increased the Silver/Gold ratio to 81.41-to-1.

Today: Silver followed Gold higher in early trading, reaching $16.84 per ounce. Physical demand continues to be strong in Asian markets. As we approach the $17 per ounce level, I would expect to see short selling.

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It’s IRA investing time, we offer Precious Metal IRAs

Our company has a relationship with New Direction IRA. New Direction IRA is professional at setting up Precious Metal IRAs, arranging storage, and acting as the Trustee. If you would like to learn about Precious Metal IRAs and how to set one up, contact Stuppler & Company IRA department at 888-454-0444.

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Recommended Investment Commitment and Diversification:

Precious Metal commitment: Minimum of 30% of investment capital

Diversification:  Gold 55%, Silver 35%, Platinum & Palladium 10%

Diversification includes 50% in long term investment quality rare coins and 50% short term bullion products.

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