Author: Sirhc

Gold Price Analysis: XAU/USD attempts to stabilize ahead of the $1670 June low – Commerzbank

Sirhc

Gold is attempting to stabilize at the 2019-2021 uptrend at $1667 but the yellow metal needs to do more work to negate the downside pressure, Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, reports. 

See – Gold Price Analysis: XAU/USD to near the confluence support zone at $1,660-$1,670 – DBS Bank

Key quotes

“The market has sold off towards the $1670 June low and the $1667 2019-2021 uptrend. This is currently holding the downside.” 

“Initial resistance is offered by the $1760/$1772 band, which is the May high and previous 50% retracement and the short-term downtrend in order to alleviate downside pressure and signal recovery to the 200-day ma at $1861.” 

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1879 $1 Pattern Metric Dollar PCGS PR64

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Judd-1624, Pollock-1820, High R.7. The head of Liberty faces left in this design by George T. Morgan, her hair done up in a bun and tied with a ribbon bearing an incused LIBERTY. E PLURIBUS UNUM is above, with stars seven left and six right, date below. The reverse portrays a wreath of cotton, wheat, and corn. An inner circle of dots encloses 895.8 S. / 4.2–G. / 100–C. / 25 GRAMS. A “descending dove” shape surrounds DEO EST GLORIA (“God is glory”). UNITED STATES OF AMERICA and ONE DOLLAR are at the rim. Struck in aluminum with a reeded edge. Only four examples of this pattern are believed known. This is the sole highest example graded by PCGS.

Offered at $15,470 delivered

We do business the old fashioned way, we speak with you. Give us a call for price indications and to lock trades.

(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%
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Silver Price Analysis: XAG/USD bears can ignore latest bounce to 100-day SMA

Sirhc
  • Silver struggles to keep week-start gap-up but snaps three-day losing streak.
  • Bearish MACD, downbeat RSI joins sustained break of yearly support line, now resistance, to favor silver sellers.
  • Yearly low, 200-day SMA will be a tough nut to crack for bears.

Silver prices waver around $25.40, fading the initial run-up to $25.56, during Monday’s Asian session. In doing so, the white metal confronts 100-day SMA while also keeping the last week’s break of an ascending trend line from March 2020.

Given the bearish MACD and descending RSI line join the previous week’s downside break of the key support line and 100-day SMA, silver prices are likely to remain depressed.

However, fresh selling can wait until the bears conquer January 27 low near $24.70 as it triggered the commodity’s bounce during Friday.

Also acting as the strong downside barrier is a confluence of 200-day SMA and the yearly low near $24.20.

Meanwhile, a daily closing beyond the 100-day SMA level of $25.45 will need to cross the previous support line, at $25.80 now, to recall the silver buyers.

Following that, lows marked during late February around $26.20 should test the bulls targeting the monthly top beyond $27.00.

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1876-S Liberty Double Eagle NGC MS64

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Rare, Last Year of Type

The 1876-S double eagle had a mintage exceeding 1.5 million coins, but this does not necessarily translate into high-grade availability. Mint State coins are only plentiful through the MS62 level, after which the certified population drops off sharply. In MS64, the ’76-S is a major condition rarity and anything finer is almost unobtainable. The NGC is only 11 with 5 higher. This particular example offers a pleasing overall appearance.

Offered at $32,625 delivered

We do business the old fashioned way, we speak with you. Give us a call for price indications and to lock trades.

(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.

Gold Price Outlook Remains Mired by Broader Recovery in US Yields

Sirhc

GOLD TALKING POINTS

The price of gold attempts to retrace the decline from the beginning of March as the US 10-Year Treasury yield pulls back from a fresh yearly high (1.62%), but key market themes may keep the precious mental under pressure as the Federal Reserve appears to be in no rush to alter the path for monetary policy.

FUNDAMENTAL FORECAST FOR GOLD: BEARISH

The price of gold bounces back from a fresh weekly low ($1688) as the initial reaction to the 379K rise in US Non-Farm Payrolls (NFP) dissipates, and the recent weakness in longer-dated Treasury yields may lead to a larger rebound in the precious metal even as the Federal Open Market Committee (FOMC) maintains a dovish forward guidance.

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