Both Gold and Silver testing support – Great Bargains
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Gold
Silver
Recommended investment commitment and diversification
It becomes frustrating to watch the battle behind the Gold bulls and bears during the past few months, as Gold trades between the $1,270 and $1,300 per ounce levels. The only people that this battle makes happy are the professional commodity traders, who buy Gold in the $1,270 per ounce range and sell it when it gets near the $1,300 resistance level. Central Banks, (i.e. Russia and China) provide excellent demand, buying tonnages of physical Gold when Gold moves near the low end of the trading range. It’s clear to me, regardless of this short-term battle, that the bulls have all the major fundamentals on their side. They will win the war and Gold will continue to move higher, reaching a new all-time high (current all-time high of $1,920.80 was set on Sept 6, 2011) within the next couple years.
Last Friday, Gold closed at $1,278.80 per ounce, down $9.50 for the week. At the current Gold price, it is up $130 (or 11.34%) since January 1, 2017. Not a bad return in a low interest rate environment. Passage of the Tax Reform legislation by the U.S. Senate doesn’t appear to have any major negative effects on precious metals today, with the exception of driving money into the equity markets.
Today: Gold tested its $1,270 support level this morning, reaching a low of $1,272 before major buying appeared.
Last Friday Silver closed at $16.35, down $0.65 per ounce for the week. Silver did trade above its important $17 level last week, but couldn’t hold that level. This bearish break resulted in the Silver price reaching a low of $16.27 per ounce last Friday.
The Gold/Silver ratio has increased to 78.25-to-1.
Today: Silver reached a low of $16.23 this morning in Asian markets before seeing bargain buying.
Recommended Investment Commitment and Diversification:
Precious Metal commitment: Minimum of 30% 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.
