Heavy buying could signal a turn in Gold and Silver prices

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:

Switching from Dollar to Gold: Iran Continues Its Struggle with US Oil Embargo

India’s Gold Imports Surge as Rupee Plummets to Record Low Against US Dollar

Ray Dalio’s Bridgewater Keeps Faith in Gold Despite Its Slide

The World’s Greatest Bubbles are Bigger than Ever
When They Pop, You Better Own Some Precious Metals

This Week’s Headlines:

Gold
Silver
Rare Coin Report
Recommended investment commitment and diversification

GOLD

Last week Gold briefly traded at a low of $1,160 per ounce, a low not seen since December of 2016. A global currency crisis caused by U.S. aggression, which placed trade tariffs on many countries’ goods being shipped to the U.S., is behind this. This currency crisis is making many of the world’s largest exporters’ products cheaper in terms of U.S. Dollars. The U.S. Dollar Index has reached a high of 97 (a 20-month high), making U.S. exports more expensive. As the value of the U.S. Dollar moves higher, the price of precious metals requires fewer Dollars, an extraordinary opportunity for American investors.

Gold closed last Friday at $1,176.50 per ounce, down $35 (2.9%) for the week on the heaviest trading volume I’ve seen this summer. A good indicator that Gold bottomed out last week was a turn higher in Gold equity (Gold mines) prices on Friday with heavy volume, after taking a real beating earlier in the week. This coming week, I look for Gold to trade between $1,175 and $1,200 per ounce as the price stabilizes and builds a healthy base for the next move above $1,200 in September.

Today: Gold moved higher late Friday in U.S. after-market transactions and traded between $1,182 and $1,190 per ounce this morning in Asian and European trading. Demand for Gold above $1,180 per ounce looks strong.

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SILVER

After hitting a low of $14.30 per ounce on Thursday, Silver closed at $14.76 per ounce, down $0.52 (3.4%) for the week. The August downturn in precious metal prices is hurting Silver more than Gold. The Silver/Gold ratio has dropped to 80.15-to-1. Last week, Silver quickly moved below the key $15 per ounce support level on Monday and short-sellers got active. On Tuesday, margin calls were being sent out and the selling continued to drive prices lower.

Silver needs to stay between $14.50 to $15 per ounce this coming week, building a new floor and allowing major investors to get in at this level.

Today: Silver did reach a low of $14.60 this morning before finding buyers. Demand for physical Silver investment products (coins and bars) has been very strong recently, as we see premiums rising.

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Rare Coin Report

Last week, I attended the largest rare coin convention of the year. The American Numismatic Association’s World’s Fair of Money in Philadelphia, Pennsylvania. At this convention, I saw thousands of rare coin dealers and collectors/investors in attendance. I spent the week hosting and attending meetings of the PNG, ICTA, ACTF and the Gold and Silver Political Action Committee in the mornings. I spent my afternoons looking for rare coins on the bourse floor and examining Stacks-Bowers and Heritage auction lots. I spent my evenings attending banquets and/or bidding at the auctions. I found a serious lack of high quality U.S. Silver and Gold coins on the floor and in the auctions. However, a 1913 Liberty Nickel brought $4.56 million at the Stacks-Bowers auction, a record high price. I can report that, in spite of lower precious metal prices, the investment quality, high grade U.S. Gold and Silver rare coin market is very healthy.

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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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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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