Weekly Market Report 04/28/14

This Week’s Headlines:

Gold
Silver
Recommended Investment Commitment and Diversification

GOLD

Last week as the Ukrainian crisis heated up, the Gold price moved up quickly. Last Thursday, in early morning Asian trading, the price of Gold was under the bear’s control. They were able to push the Gold price to below the $1,275 per ounce support level, to a low of $1,268, the lowest price since February 11, 2014. Then, news came out that pro-Russian insurgents seized a vehicle with international mediators in the Ukraine, which escalated the crisis. After the Ukrainian news was released, the Gold price quickly rallied back $20 per ounce on heavy trading volume and kept on going higher, reaching $1,299 per ounce before seeing some short term profit taking.

For the week, Gold was up $6.90 per ounce, closing above the important $1,300 per ounce resistance/support level, at $1,300.80. Today, Gold is trading in a narrow $14 range, above and below the $1,300 per ounce level.

The coming week will provide a good amount of U.S. economic data, with an FOMC (Federal Open Market Committee) meeting of the Federal Reserve on Wednesday, a GDP report on Wednesday, and an April jobs report on Friday from the Labor Department. These economic indicators are likely to affect the Gold and precious metal markets.

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SILVER

Last week, even though Gold was able to break above the key $1,300 per ounce resistance level, Silver wasn’t able to move above the $20 per ounce resistance level. After reaching a yearly low of $18.93 per ounce last Thursday, while Gold was trading at $1,268, Silver could only rally to $19.91. This lack of Silver’s ability to break the $20 per ounce level last week is very disappointing and supports the professional commodity trader’s strategy to short Silver when it gets near $20.

For the week, Silver closed at $19.69 per ounce, up $0.09 per ounce. The Silver to Gold Ratio is now at 66.06 to one.

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Recommended Investment Commitment and Diversification:

Precious Metal commitment: Minimum of 40% of investment capital

Diversification:  Gold 50%, Silver 45%, Platinum & Palladium 5%

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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