Both Gold & Silver hit new 2018 Low – Is that the bottom?

Current Rare Coin Listings Updated

Current listings for Morgan Dollars
https://www.mintstategold.com/silver/us-mint/morgan-silver-dollar.html

Current listings for Peace Dollars
https://www.mintstategold.com/silver/us-mint/peace-silver-dollar.html

Current listings for $20 Gold Saints
https://www.mintstategold.com/gold/us-mint-1/saint-gaudens.html

 

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

All-Time Finest Historic CC Dollar Collection Purchased by Barry Stuppler

The Next Silver Run To $50 (And Beyond)

If Gold isn’t Money, Why do Central Banks Have Tons of it & Keep Buying More?

China’s H1 Gold Jewelry Demand Hits Three-Year High of 332.9 Tons

Iranians Hoard Gold as Currency Collapses Ahead of Snapback Sanctions

Iran’s Gold Demand Triples as Investors Seek Safe Haven Before US Sanctions

 

This Week’s Headlines:

Gold
Silver
Rare Coin Report
Recommended investment commitment and diversification

 

GOLD

I think last Friday was a turning point in the downward trend that we have seen in the Gold and Silver price. Our President raised aluminum/steel tariffs on Turkey, which caused a Turkish currency crisis. The U.S. Dollar Index soared above 96 last Friday (14-month high) then Gold, currency, and equity markets quickly sold off. Gold reached a new 2018 low of $1,205 per ounce. The bears had control of the Gold market and it looked like it was heading to the $1,200 per ounce long term support level. Then, trading volume increased dramatically and Gold quickly moved up to $1,217 before sellers appeared. Someone (Central Bank) stepped in and purchased approximately 8 tons of Gold that was being offered between $1,205 to $1,210 per ounce. Those purchases caused many short-sellers to cover their short sales, reaching $1,217 per ounce. I don’t expect to see the Gold bears give up, and there will be one or two more attempts to reach and break below the key $1,200 support level. Any break will be brief and by year-end, I expect to see Gold back above $1,300 per ounce.

Today: Gold reached a low of $1,196 in Europe this morning as the Turkish currency crisis is driving non-U.S. currencies and precious metals lower. The U.S. Dollar Index continues to be above 96 (14-month high) and trading is active.

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SILVER

The recent downward trend in precious metals has affected Silver worse than Gold, with the Silver price closing at $15.27 on Friday, down $0.26 since the beginning of August. The Gold/Silver ratio has dropped to 79.70, the highest it’s been since May.

I have provided a link to an interesting article above, called "The Next Silver Run To $50 (And Beyond)." The article talks about JP Morgan’s Silver hoard.

Today: When Gold broke below $1,200 this morning, Silver hit a low of $15.06 per ounce. Then when Gold moved back above $1,200, Silver quickly rallied $0.10 per ounce. $15.00 per ounce is still the major long-term support level.

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Rare Coin Report

Between August 12th and August 18th, 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 Philadelphia, Pennsylvania. This convention will see thousands of rare coin dealers and collectors/investors in attendance. I will be at the show for the entire week, attending meetings and looking at rare coins, while talking to clients and dealers. 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 as soon as possible.

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Recommended Investment Commitment and Diversification:

Precious Metal commitment: Minimum of 40% 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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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.

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