Author: Sirhc

Gold Price Forecast: XAU/USD jumps above $1,920 after US data

Sirhc

Source: FXSTREET NEWS | 1/31/2023 3:05:16 PM GMT | By Matías Salord

  • US Dollar weakens following Q4 US Employment Cost Index.
  • Data points to more evidence of a slow down in inflation.
  • XAU/USD erases daily losses with a rebound of more than $10.

Gold prices bounced sharply higher following the release of US labor costs data for the fourth quarter. More evidence of a slowdown in inflation pushed US yields to the downside and Wall Street to the upside, weakening the greenback.

The Employment Cost Index (ECI) rose 1% in the fourth quarter, below the 1.1% of market consensus and marked the third consecutive slowdown. Still the index is up by 4% compared to a year ago. The evidence of an improvement in the inflation outlook boosted US yields ahead of Wednesday’s FOMC decision.

Still the numbers are high, suggesting that inflation is still not consistent with Fed’s target. “Even as supply chain pressures ease, commodity prices cool and housing costs temper, we think the FOMC still wants to see a bit more slowing in wage growth before the Committee feels confident inflation is firmly headed to 2% over the medium term”, said analysts at Wells Fargo.

The greenback tumbled after the report and also did Treasuries, boosting gold. Also equity and crude oil price rose. XAU/USD erased all losses and it is hovering around daily highs at $1,927.

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1891-CC Liberty Double Eagle NGC MS61

Sirhc

With just 5,000 pieces struck, the 1891-CC is a rarity among Carson City twenties and the long-running Liberty Head double eagles alike. Despite small groups of the issue surfacing from time to time among overseas holdings, Mint State examples are rare even within the low Uncirculated levels. The finest 1891-CC seen by PCGS or NGC tops out at MS6 3, with each of those grading companies having recognized a single survivor at that grade. In hand, this example is noticeably more lustrous than seen in our images. The NGC population is 16 with 10 graded higher.

Listed at $86,400 in the CDN CPG and $77,500 in the NGC price guide.

Offered at $76,500

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1818/5 Capped Bust Quarter NGC MS65

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Although 10 die varieties are known for the 1818 quarters from among five obverse and seven reverse dies, only the B-1 obverse features the 1818/5 overdate, with the 81, wide in the date and faint remnants of the 5 inside the upper loop. It is paired with a reverse showing large rim dentils, the scroll ending between AM, and a long, upward-curving flag on the 5 in the denomination. The overdate is a Guide Book -listed variety, increasing its popularity among that collecting subset, and it is an overdate that is widely available in high grades, up to the near-Gem level or so. The NGC population is just 8 with 3 graded higher.

Listed at $29,400 in the CDN CPG and $25,500 in the NGC price guide.

Offered at $19,600

We do business the old fashioned way, we speak with you.

(800) 257.3253
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Private, Portable, Divisible Wealth Storage

Price is based on payment via ACH, Bank Wire Transfer or Personal Check.
Major Credit Cards Accepted, add 3.5%
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Gem 1870 Seated Liberty Dollar NGC PR65 Cameo

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A fairly generous mintage of 1,000 Seated Liberty dollars was accomplished at the Philadelphia Mint in 1870, but the issue is much more difficult to locate than the large production total would suggest. It is likely that many coins remained unsold and were melted after the end of the year. Today, the issue is quite elusive at the Gem level, and finer coins are very rare. The NGC population is 9 with 7 graded higher. Listed at $15,500 in the NGC price guide.

Offered at $12,400 delivered

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(800) 257.3253
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Flashy, Retail-Friendly 1919-S Walking Liberty Half Dollar NGC MS64

Sirhc

While not quite as rare in high grades as its Denver Mint counterpart, the 1919-S remains a popular and challenging issue in Uncirculated condition. That is especially true at the MS64 grade level, where the issue becomes genuinely scarce. This particular example is bright and color-free, with strong eye-appeal. The NGC population is 48 with 32 graded higher. Listed at $13,800 in the CDN CPG and $13,000 in the NGC price guide.

Offered at $13,450

We do business the old fashioned way, we speak with you.

(800) 257.3253
9:00 AM – 5:00 PM CST M-F
Private, Portable, Divisible Wealth Storage

Price is based on payment via ACH, Bank Wire Transfer or Personal Check.
Major Credit Cards Accepted, add 3.5%
Offer subject to availability.