Weekly Market Report 7/6/15

| July 6 2015

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

This Week’s Headlines:

Gold
Greek debt crisis worsens
Silver
Platinum
Rare Coin report
Recommended Investment Commitment and Diversification

GOLD

Last week Gold closed at $1,163.50 per ounce, down $9.70 for the week, and below the key $1,200 support/resistance level. Trading was shortened for the week, ending Thursday due to the July 4 holiday.

After yesterday’s ’No’ vote in Greece, Gold quickly rallied $8 per ounce, then the Euro fell more than 1% against the U.S. Dollar, hitting $1.08, and driving Gold back down to $1,168. European and American stock and bond markets dropped sharply after the open today, but the U.S. Market rallied back.

This morning, Gold quickly dropped $5 per ounce, reaching a low of $1,162 per ounce. Bargain buyers appeared and Gold rallied back to $1,167 per ounce on excellent trading volume.

Back to top of report

Greek debt crisis worsens

Last Sunday the Greeks voted overwhelmingly (61%) to say NO on a referendum that accepts a debt rescue package from the European Central Bank (ECB). The deal the Greeks rejected would have imposed more austerity measures on the people. Thousands of jubilant Greeks waved flags in Athens’ central square to celebrate the NO vote.

The NO vote leaves Greece in uncharted waters: The vote could cause banking collapse that could force it out of the Euro. Without more emergency funding from the European Central Bank, Greece’s banks could run out of cash within days. That might force the government to issue another currency to pay pensions and wages. The standoff between lenders and the Greek government is in doubt. In addition, Greece’s finance minister has resigned this morning as turmoil within Greece and the EU continues to build.

The big question now is: What happens next? Does the ECB put Greece into default and kick them out of the Euro? Will the ECB and IMF cut Greece a better financial deal without serious austerity? European leaders called a summit for Tuesday, July 7, to discuss their next move.

Back to top of report

SILVER

Last week Silver closed at $15.56 per ounce, down $0.17 for the week. Silver could not rally above the key $16 per ounce support/resistance level the last four trading days of the week. $16 is proving to be a very important price level for Silver. If Gold can move above $1,200 per ounce, Silver should be able to rally back above the key $16 per ounce level.

The Silver/Gold ratio moved to an amazing 74.77-to-1.

Back to top of report

PLATINUM

For most of 2015, the spot price of Platinum has traded at a discount to the Gold spot price. This has only happened four times in the past ten years, and Platinum rarely stays at a discount to Gold for more than six months. Platinum closed last week at $1,084 per ounce, and 1oz Platinum Maple Leafs were trading at a $42 discount to the 1oz American Gold Eagles. The Canadian Platinum Maple Leaf is the best bullion coin on the market, with the lowest premium over spot Platinum.

Back to top of report

Rare Coin report

The U.S. Mint just announced that it will be minting a 2015 High Relief Gold Coin. The U.S. Gold coin will have a denomination of $100 and contain one troy ounce of .9999 24-Karat Gold. It will have a lustrous high relief surface and a classic American Gold coin design. The mintage is limited to 50,000 from the West Point Mint. The coin will be released on July 30, 2015 and we hope to have them available in MS70 from PCGS and NGC by August 30, 2015.

Back to top of report

Recommended Investment Commitment and Diversification:

Precious Metal commitment: Minimum of 45% of investment capital

Diversification: Gold 45%, Silver 45%, 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.

Categories: Weekly Market Report