Weekly Market Report 08/11/14

This Week’s Headlines:

Gold
Silver
Rare Coin Market Update
The Kennedy Gold Coin becomes a Numismatic Disaster
Recommended Investment Commitment and Diversification

GOLD

The negative effects on the Gold price of a strong U.S. Dollar in the world’s foreign exchange markets is being offset by the geopolitical and military actions currently occurring around the world. The Russian build-up of troops at Ukraine’s western border, Isis’ military activity and the U.S. air-strikes in Northern Iraq, the hostilities in Israel, Libya and Syria have all increased the demand for the ultimate safe haven, GOLD. The bulls won the $1,300 per ounce support/resistance level fight last week, with Gold closing at $1,311 per ounce on Friday, up $16 per ounce. I believe that the current price of Gold offers an excellent opportunity for acquiring more.

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SILVER

Last week Silver traded above $20 per ounce all five days, reaching a high of $20.58, but could not close above the important $20 per ounce support/resistance level. Silver closed at $19.94 per ounce last Friday, down $0.43 per ounce for the week. I am very disappointed with last week’s Silver price activity given the recent strength in Gold.

The Silver/Gold ratio has moved higher, and is currently at 65.56 to one.

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Rare Coin Market Update

I was in Chicago last week to attend the American Numismatic Association World’s Fair of Money. This is the largest rare coin convention of the year. Many of the coin dealers attending this convention had a serious lack of high grade certified Gold and Silver rare coins. Most of the dealer demand was focused on true Gold and Silver U.S. rarities with NGC or PCGS populations under 20 and valued at over $25,000.

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The Kennedy Gold Coin becomes a Numismatic Disaster

On August 5th at 12pm (noon EST) the U.S. Mint started selling a 3/4oz Kennedy .999 Gold Half Dollar to commemorate the 50th anniversary of the 1964 John F. Kennedy Half Dollar. The U.S. Mint had already manufactured 40,000 coins and was going to sell them to the public in Chicago, Denver Philadelphia, and Washington D.C. The original plan was for the U.S. Mint to offer 1 coin per buyer at the four locations with immediate delivery, and sell 500 Gold coins for five consecutive days. On the Mint’s website they were offering five coins per family and with no guaranteed delivery date. To see the entire story of what happened in Chicago and why I believe the Kennedy Gold Coin will become a Numismatic Disaster, click on the following link

http://www.mintstategold.com/investor-education/kennedy_2014_gold_coin/

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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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