Author: Sirhc

Gold: USD 2,000 per ounce within reach

Sirhc
  • Gold powers to an all-time high
  • The stars are aligned for gold prices to continue to rise
  • A lower dollar, aggressive monetary policy easing, ultra-low interest rates, negative US real yields, fiscal stimulus and the technical outlook all support gold prices
  • Nonetheless, positioning does remain extreme which could encourage volatility

Introduction – Will gold break records?

On 9 July we released our Gold Watch – Gold gains from global stimulus measures. In this report we revised our gold price forecasts because the crucial technical resistance at USD 1,800 per ounce was taken out. Today the all-time high at USD 1,921 from 6 September 2011 was taken out. What do we expect going forward?

Stars aligned for gold price rises

The stars are aligned for gold prices and a test of the psychological level of USD 2,000 is within reach now. There are several reasons for this.

Firstly, since the start of July the US dollar has declined. For a start a more constructive sentiment on financial markets has resulted in lower safe haven demand for the dollar. In addition, investors shy away from the dollar because of the tensions between the US and China and the Presidential elections. Moreover, the handling of the COVID-19 situation in the US has weighed on the US dollar. Finally, the monetary policy easing by the Fed is a crucial driver of dollar weakness.

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1856-S Liberty Double Eagle NGC MS63

Sirhc

Choice, Flashy

From a mintage of more than 1.1 million pieces, the 1856-S Liberty double eagle has always been available in lower circulated grades, but Mint State specimens were very rare before the issue surfaced in large numbers in modern shipwreck finds. More than 1,000 examples of the 1856-S were recovered from the wreck of the S.S. Central America alone, representing 18 different die varieties. Many of these coins were in Mint State grades, making the 1856-S a popular choice with branch mint type collectors. This beauty exhibits more luster and a lighter, more yellow-gold (as opposed to orange-gold) hue than seen in our pictures.

Offered at $16,675 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.

PRECIOUS-Gold sets sights on $1,900/oz mark as haven flows gather steam

Sirhc

* Gold up more than 4% so far this week

* Silver slips, but headed for best week in over three decades

* Dollar index near two-year low, equities retreat (Recasts, adds comments, updates prices)

By Eileen Soreng

July 24 (Reuters) – Gold resumed its march toward $1,900 on Friday as an escalation in the U.S.-China spat added further safe-haven fuel to a rally to a nine-year peak driven by fears over the economic hit from the coronavirus pandemic.

Silver, meanwhile, was en route to its best week since 1987.

Spot gold was up 0.3% at $1,892.32 per ounce by 1002 GMT, having hit its highest since September 2011 at $1,897.91 on Thursday.

U.S. gold futures rose 0.1% to $1,890.90.

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1945 Mercury Dime NGC MS65FB

Sirhc

Excellent Bands to Have

The circumstances that led to this odd strike rarity have never been fully explained, but it remains a great and celebrated issue when found with fully split central bands; David Lange makes the interesting point in his series reference that since the dies for all three mints were made at the Philadelphia Mint die shop, there should have been nothing fundamentally different about the P-mint strikes. The example we offer here is brilliant (noticeably more so than seen in our images), color free and highly appealing looking. The NGC population is only 8 with 11 higher.

Offered at $14,375 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 shatters ‘summer doldrums’ as it climbs to record territory

Sirhc

Most-active gold contract nears all-time high, as front-month contract scores a record

The gold market saw a lot of excitement on Thursday, with its climb over the last five sessions in a row ultimately lifting prices into record territory.

“Ordinarily this is the quiet time for gold—summer doldrums,” said Ross Norman, chief executive officer of precious metals news and information provider Metals Daily. “Well, not this year.”

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