Gold & Silver rally continues as US Dollar hits 2017 low

Links to recent informative articles on precious metals and rare coins:

All Signs Point to Higher Gold Prices in the Months Ahead

Silver Supply/Demand Curve Begins to Turn in Silver’s Favor

The Story Behind Continuing Strong Gold Bullion Coin Demand

This Week’s Headlines:

Gold
Silver
Long Beach Coin Expo starts Thursday
U.S. Mint releasing 2017 Burnished 1oz Gold Eagles
ANA members are receiving their election ballots
Recommended Investment Commitment and Diversification

GOLD

Gold ended the month of May at $1,272, up $4 after a completely volatile month that saw a low of $1,214 per ounce. Last Friday, Gold continued the rally, closing at $1,276.80, up $10 for the week and up $128 (11.16%) for the year. Gold is clearly on its way back to the 2017 high of $1,297.40, which it reached on April 17.

The three major factors that helped Gold breakout above the key $1,270 per ounce level last week were:

1. Last Friday, the U.S. Labor Department released a very disappointing Non-Farm payroll report. The report showed that only 138,000 new jobs were added in May; analysts had expected 185,000. This negative news should cause the Federal Reserve Governors to think twice before raising interest rates.
2. Interest rates are dropping. The 10-year Treasury rate has reached a low of 2.21%, down 6% in the past month. Lower interest rates are bullish for Gold and Silver.
3. The U.S. Dollar has stopped increasing and has started to fall. The U.S. Dollar Index reached a 2017 low of 96.72 on Friday. The U.S. Dollar Index is an index (a measure) of the value of the United States Dollar relative to a basket of foreign currencies. A lower U.S. Dollar value is bullish for Gold and Silver.

I look for Gold to move above the 2017 high of $1,297 per ounce this month. Then, I believe we will see price consolidation between $1,275 and $1,297 before Gold moves above the key $1,300 per ounce long term resistance level.

Today: After moving above $1,270 late last week, Gold has moved above $1,280 per ounce this morning. A little base building at this level would be healthy while Gold consolidates its recent gains.

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SILVER

Silver reached a low of $16.06 per ounce on May 9. After holding above $17 all five trading days last week, Silver has reversed the downtrend. Silver closed at $17.52 last Friday; the highest price for the week. While Gold is within $20 (1.6%) of reaching its 2017 high, Silver is $1.14 (6.5%) away from the 2017 high it reached on April 17 of $18.66 per ounce. This is disappointing for Silver investors, but history has shown us that the Silver price is far more explosive than Gold. When Gold breaks above the key $1,300 per ounce long term resistance, l think Silver will make a new 2017 high.

I remember how explosive Silver behaved in June of 2016. Silver traded at $15.92 per ounce on June 1, 2016, and by July 5, 2016, had reached a high of $21.23. That’s a $5.31 increase (33%) in just a little over a month.

The Gold/Silver ratio is at 73.05-to-1.

Today: The rally continues with Silver moving above $17.60 per ounce this morning. Silver reached a high of $17.66 before seeing some light profit taking.

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Long Beach Coin Expo starts Thursday

This week, I will be attending the June 2017 Coin Expo convention in Long Beach, California. If you are in the Long Beach area, please stop by and visit us at Table 826 on Thursday 6/8. The Long Beach Coin Expo is a major rare coin convention, and I expect to see active trading on the bourse trading floor, with hundreds of the major rare coin dealers and thousands of collectors and investors. I’m hoping to pick up many of the undervalued $20 Gold Saints, and Morgan Dollars, to build up our inventory and fill clients’ want lists. Please, update your want list if you haven’t recently.

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U.S. Mint releasing 2017 Burnished 1oz Gold Eagles

2017-W Burnished Gold Eagles in PCGS/NGC SP70/MS70 First Strike/Early Releases are available for low pre-order prices from $1,648 to $1,659 with our preferred client Exclusive Lowest Price Guarantee.If for any reason our price decreases on the coin(s) you order from us between the time you purchase them and the time we deliver them, we will REFUND YOU THE PRICE DIFFERENCE!

We can now offer these coins because on Thursday, June 1, the U.S. Mint started selling the 2017 1oz Burnished Gold Eagles for $1,575 ungraded. We have purchased hundreds of these coins and have submitted them to PCGS and NGC, hoping to get a fair percentage of First Strike SP70 and Early Release MS70 coins. If you’re looking for a perfect 70 coin we are offering them for as little as $73 over the Mint issue price. These are guaranteed perfect 70 graded coins and our price includes all grading fees and shipping costs, as well as elimination of the risk of getting a 69. Don’t miss out on this amazing offer!

If you wish to purchase a 2017 1oz Burnished Gold Eagle, certified as perfect MS/SP70 from PCGS or NGC, please contact us. We will put you on our preferred client list and give you our Exclusive Lowest Price guarantee. Offer available only while supplies last.

Click on each item below to make a purchase

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ANA members are receiving their election ballots

If you are a member of the American Numismatic Association (ANA), you should have received your 2017 election ballot. As a past president of the ANA (2007-09) I know many of the candidates and would like to provide my recommendations.

President:
Gary Adkins

Vice President:
Don Kagin

Board of Governors:
Adam Crum
Brian Hendelson
Steven Ellsworth
John Highfill
Paul Montgomery

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Recommended Investment Commitment and Diversification:

Precious Metal commitment: Minimum of 30% of investment capital

Diversification:  Gold 50%, Silver 40%, Platinum & Palladium 10%

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

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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.

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