Silver hits new 2017 low; July CoinStats now available

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

Gold Down After Upbeat U.S. Jobs Data; Silver Suffers Overnight Flash Crash

What 4-Month Low? BoA/ML Still Sees Gold at $1,400 in Second Half

Gartman Says Gold Will Move ’Quietly Higher’

SA Gold Mines are on the Brink of Death

Tax Policy Change in India Could Boost Gold Demand

This Week’s Headlines:

Gold
Silver
July 2017 CoinStats is now available
Recommended Investment Commitment and Diversification

GOLD

Last Monday, Gold dropped $23 per ounce, breaking below the important 200-day moving average of $1,230. Afterwards, Gold quickly dropped below $1,220, when the sentiment on the trading floor turned negative. Gold stayed negative for the remainder of the week, closing on Friday at $1,209.70 per ounce, down $32 for the week. On Friday, the U.S. Department of Labor released the June employment data, showing a 222,000 increase in jobs, which was much higher than expected. The U.S. Dollar and interest rates rallied and Gold dropped another $13.60 per ounce, closing on the week’s low of $1,209.70.

Based on the recent trading activity and volume, I think Gold will test its long-term support level of $1,200 per ounce this week. Remember, in March 2017 Gold tested the $1,200 support level, reaching $1,194 before rallying over $100 per ounce in a month. I believe this week Gold will see the third unsuccessful attempt to break below the key $1,200 per ounce level.

Today: This morning Gold hit a low of $1,204 in Asian markets on heavy volume. It appears that was the Gold price bottoming out. Trading activity is showing an inter-day reversal, which would be a bullish signal. I look for a little consolidation in the $1,210 to $1,220 level in the next few trading days, and then for Gold to start moving higher.

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SILVER

Last week was the worst week of 2017 for Silver investors, with Silver dropping $1.20 per ounce. Silver closed the week at $15.43 per ounce, the lowest price for Silver since April 11, 2016. At one point in the early morning trading on Friday, Silver had a flash crash or computer entry mistake that caused a trade of Silver under $14.50. Silver quickly moved back up over $1 and stabilized around $15.50 per ounce. On Friday, Silver’s trading volume was a record 153,255 CME September 5,000-ounce contracts; that’s over 750 million ounces. Traditionally, high volume is a sign of a clean out of weak hands, (stop-loss selling, due to margin calls) which is a very bullish sign.

I would like to see Silver build a new base in the $15.50 to $16 area this week, allowing fresh buying. Buying Silver investment products in the $15 to $16 price level is an extraordinary opportunity.

The Gold/Silver ratio has increased to a 2017 high of 78.42-to-1.

Today: This morning Silver hit a 16-month low of $15.14 per ounce before turning up on heavy volume. Silver quickly rallied $0.40 from the low on sizeable buying. Silver also appears to have had a very bullish inter-day price reversal and is finding heavy buying support above $15.50 per ounce.

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July 2017 CoinStats is now available

Our numismatic CoinStats report is the best investment tool for rare coin investors. CoinStats is an in-depth statistical analysis of popular rare coin series that allows you to identify the best values in certified rare coins. I am proud to offer this unique and informative tool exclusively to our clients. CoinStats has been updated for July 2017 and is now available. Six different series are available: $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/NGC 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. To receive the latest CoinStats analysis, just put the word CoinStats in the subject line and email me which of the six series you would like to see.

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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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If you want to be updated on what is happening in the Gold, Silver, and Rare Coin markets any weekday, our company offers a daily blog Monday through Friday at www.stupplerblog.com

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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