Gold/Silver on Bullish track--Major rare coin show next week

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

Russian Central Bank Still Adding to its Gold Reserves

"Why Gold Rose Sharply and What Is Coming Next"

“Time to Position in Gold Is Right Now”

Sprott Says Gold Might Break US$1,400, Driven by Correction in Equity Markets

 

This Week’s Headlines:

Gold
Silver
Rare Coin Report
Recommended Investment Commitment and Diversification

 

GOLD

What a great week for Gold investors with Gold up all five days. Gold has moved from $1,217 on July 13th to $1,253 today, a $36 (3%) rally in just six trading days. What is very important is on Friday Gold broke above the $1,250 per ounce resistance level. The key factor that has helped the recent Gold rally is the weakness of the U.S. Dollar. The U.S. Dollar index closed Friday at 93.68, the lowest level this year, down 8%.

Many professional commodity traders became aggressive on Monday when Gold rallied above $1,235 per ounce with sale orders just under $1,250. As Gold approached $1,250 per ounce on Friday, many of the professional traders took short-term profits and closed their positions going into the weekend. They will be back on Monday assessing the Gold/Silver markets. Gold should test the $1,250 support level next week, but I think Gold will hold the $1,250 level, consolidating the recent gains for the balance of July, then start moving toward $1,300 per ounce.

Today: As the U.S. Dollar Index continues to fall (93.65), Gold continues to move higher, the Gold rally moves higher. This morning Gold moved firmly above the $1,250 per ounce level, reaching a high of $1,259 before seeing light selling.

Back to top of report

 

SILVER

Silver quickly moved back over the $16 per ounce resistance on Monday, tested it twice, but held for the balance of the week. Silver, like Gold, was up for the past six trading days, increasing $0.77 since July 14th. Silver closed Friday at $16.45, the highest close of the week, up $0.52 (3.3%) for the week. Silver needs to consolidate its recent gains and then start moving back towards the next resistance level of $17 per ounce.

The Gold/Silver ratio has decreased to 76.25-to-1.

Today: Silver continues to move above and below the key $16.50 resistance level. Today, Silver hit $16.63 and sellers appeared driving the price down to $16.40 and then buyers became very aggressive.

Back to top of report

 

Rare Coin Report

Between July 31 and August 5, the largest rare coin convention of the year will be happening. The American Numismatic Association will be hosting the World’s Fair of Money in Denver, Colorado. This convention will have over one thousand rare coin dealers and tens of thousands of collectors/investors in attendance. My son David and I will be at booth #269. If you are in the area, please stop by and say “hi” and spend some time enjoying all of the interesting numismatic exhibits. I am updating our company’s master Want List and plan on being an aggressive buyer for investment quality U.S. Gold and Silver rarities. I recommend you update your numismatic want list and email it to me by Wednesday, July 26.

Back to top of report

 

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.

Back to top of report

 

REMEMBER THE BLOG

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.

Back to top of report

Copyright © 2023 MINTSTATEGOLD.COM. All rights reserved.