Both Gold & Silver trading at their support levels

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

Credit Suisse Still Looks $1,400 Gold by Q4 2017

India Said to Plan Gold Policy Overhaul for $19 Billion Sector

Gold: On the Verge of Tearing Up Resistance

Gold Dips as Market Awaits Cues from Fed Meeting

This Week’s Headlines:

Gold
Silver
Recommended Investment Commitment and Diversification

GOLD

Since February of 2017, Gold has traded between $1,201 and $1,298 per ounce. During that period of time Gold has made two attempts to break above the key $1,300 per ounce resistance level. The third attempt at breaking above a key resistance level is usually the charm. The real question is: When will that third attempt happen? I believe it will be relatively soon.

Last Friday, Gold closed at $1,256 per ounce, down $15 for the week. Last Wednesday, Federal Reserve Chair, Janet Yellen, gave a very hawkish news conference. Gold immediately sold off and the U.S. Dollar rallied as she confirmed more interest rate increases this year. She also shared that the Fed will be shrinking the massive $4.5 trillion balance sheet. Gold immediately tested the $1,250 per ounce major support level then quickly rallied back.

Today: A firmer U.S. Dollar and a slight increase in interest rates have caused Gold to trade above and below the important $1,250 per ounce support level.

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SILVER

Last week, while Gold dropped $15 (1.17%) to $1,256, Silver dropped $0.56 (3.25%) to $16.66 per ounce. Silver had a difficult week, breaking below the $17 per ounce level on Monday and continuing to decline for the remainder of the week. Silver has traded between $16.06 and $18.66 since the beginning of 2017, showing active consolidation while building a base for a move back to $20 per ounce by year end.

As we approach the summer months, Silver is showing weaker physical demand. Premiums on many of the popular Silver investment products have dropped in the past month. The premium on the popular U.S. 1oz BU Silver Eagles has dropped 10%, from $2.50 over spot to $2.25 over spot on minimum quantities of 100 coins. 20-coin rolls of Pre-1905 white PCGS MS63 Silver Dollars are available at only $1,040 ($52 ea.), and 5 rolls (100 coins) are available for only $50 each. Offer is subject to available supply.

The Gold/Silver ratio has increased to 75.42-to-1.

Today: Silver tested its $16.50 support level this morning and held. Most of today’s Silver trading has been in the $16.60 to $16.70 price range.

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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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