From Birch Gold Group
This week, Your News to Know rounds up the latest news involving precious metals and the overall economy. Stories include: U.S. Mint sells out of American Eagle Coins, there is good cause to be optimistic about gold, and gold will test 2016 highs next.
U.S. Mint Announces it Ran Out of American Eagle Silver Coins
Last week, the U.S. Mint announced that it sold the last of its 2018-2019 batch of American Eagle Silver coins. According to Kitco, the U.S. Mint stated on Thursday that the series included 6 million units of one-ounce coins. In the announcement, the Mint blamed the shortage on market fluctuations and reassured investors that production of new coins is underway.
The surge in demand for silver coins appears to have started in late 2018, with the U.S. Mint having reported a similar shortage of American Eagle Silver coins back in September 2018. Analysts point to a broad rebound in the precious metals market as the primary driver behind increased silver coin purchases. Jim Wyckoff, Kitco’s senior technical analyst, said that positive price action in the silver market is likely to continue.
Andrew Hecht, creator of the Weekly Hecht report, likewise pointed out that silver investors have been slowly accumulating silver since the start of the year, with a 25% rise in open interest.
With increased physical demand and so many positive drivers, Hecht listed $17.35 as silver’s short-term goal. Past that, the analyst sees silver prices potentially reaching $21 an ounce before the year ends.
There is “Good Cause” to be Optimistic About Gold
In an interview with Kitco, George Milling-Stanley explained why investors are bracing for even higher gold prices after two months in the green.
The head of gold strategy at State Street Global Advisors Milling-Stanley said that gold prices are finally unshackled from two factors that kept them pressured in mid-2018: a strong dollar and a record-setting stock market. With the dollar pulling back and the equity market going through worrisome tumbles, gold is finally free to move up as investors grow increasingly averse to risk.
As Milling-Stanley noted, analysts are nearly unanimous in their forecasts for gold prices to go up. Most expect a rise to somewhere between $1,350 and $1,400 this year, while some see the metal going even higher.
Milling-Stanley also said that, for the first time since 2013, the heavy flow of institutional money is slowly returning to gold. This could serve as yet another tailwind in a myriad of positive factors that have already made gold a standout asset in 2019 with less than two months in.
Gold Will Test 2016 Highs Next
Gold’s rebound this year has been nothing short of spectacular, with the metal hitting the $1,340 mark even amid a historically strong U.S. dollar. According to David Brady, CEO of Global Pro Traders, this is just one stop on a run that will soon lead gold past its 2016 highs, reports Kitco.
In an analysis on Sprott Money, Brady explained why the stage is set for gold to continue running upwards. Out of the various drivers that have powered the metal’s performance this year, Brady focused primarily on the beneficial central bank policies, starting with the Fed’s own dovish turn.
As Brady noted, governments around the world are setting fiat currencies up for depreciation, which is a traditional recipe for gold to thrive. The story of the Federal Reserve will likely be the most prominent, as the central bank recently showcased a softer stance after years of hawkish rhetoric and accompanying rate hikes.
Brady, along with other analysts, expects not only an end to rate hikes in the U.S. but also a return to quantitative easing (QE). The resulting spike in inflation will boost gold in its own right, reports Kitco, as the metal is seen as the premier hedge when prices go up. Consequently, Brady expects the dollar index (DXY) to finally peak this year before potentially settling as low as 80, which should hasten gold’s move up.
Regarding his prediction for the metal, Brady sees a short-term pullback after gold hits $1,377 sometime this year. But after the recovery, the CEO thinks that the metal will continue on its upwards trajectory and reach new highs before the end of the year.
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Monster Box ain’t no coffin for Frankenstein.
500, sealed.
Hi Ho Silver.
You got ’em, Kemosabe.
I got 5 tubes from JM bullion with a 10% off ebay coupon so it was just 1700.00 for 100.. broke down and got 100 more when my state tax retun came.
I have a goal of 5,000 oz’s by the end of 2021 and am just a bit over 3000. If silver hits $50 an ounce again or higher, I’m cashing out, retiring a few years early and moving to a tax-free state to sequester myself in the country. Tiny house on 10 acres sounds like heaven to me.
Too bad bread will cost $100 a loaf and diesel $100/gallon at that point.
It hit $50 twice already, I never saw $100 bread.
As a speculative investment, I won’t argue that.
I consider it a simple hedge against inflation. It is not a speculative investment.
Nice plan. Good odds.
How much did the mint sell silver dollars for?
I haven’t purchased silver rounds or dollars for almost a decade but I know they used to sell it for SPOT Plus… and I used to know what that meant.
Silver Eagles (US minted silver dollar “coins”) sell at Spot price plus a premium for their being minted US currency.
While a one ounce round or bar of silver is around 16 dollars per ounce, the price of a single silver eagle is more than that though only holding 3/4 of an ounce of silver in its slightly smaller frame.
https://www.monex.com/prods/silver_eagle_chart.html
The silver eagles are 1 troy ounce, .999 Ag. Are you thinking of Morgan silver dollars – 90% Ag, 26.73g nominal – each contains about .77 ozt. Ag?
I was… I have a few of those collected here and there. One while working as a grocery cashier at an IGA in 1979. I told the elderly gentleman he should not pay with it, but he insisted. I swapped it for a dollar bill.
an American silver eagle contains one troy ounce (or 31.75 grams, i.e. 2.75 grams MORE than an ounce) can be bought at a coin dealer for about $2.50 -3.00 above spot.
All of the articles written about the wonders of gold and silver are written by gold and silver salesmen.
Yeah Ned, all those who don’t stack em’ high will be wonderin’ what to do when the SHTF or do you have info to the contrary?
I guess silver is better than paper. unless you want to wipe your ass. If you have all the other preppers crap and want to spend your money… I wonder how many people have been murdered over gold and silver.
You can do a pretty good job with a Morgan Dollar. wet it and scoop out the chunks. Reeded edge can clean up what’s left. Dip in creek and air dry after each use.
Robert (QSLV)
When the fecal matter hits the motorized air circulation unit your gold and silver wont be worth anything just like cash. Try things from a more prepping standpoint, like food supplies, weapons systems, ammunition, guns, water, etc. Actually did you know that things like whiskey and illegal dope ( and anything that is illegal for that matter) will be more of a barter commodity than a pretty shiny coin? Hard to imagine ain’t it? PM’s don’t really add to self-sufficiency much if at all. After all you can’t eat gold or silver.
“When the fecal matter hits the motorized air circulation unit…” – Neddy
A cliche is a cliche no matter how many times you change the terms. It became popular because it was new and simply worded. It was a new way of saying something like: when bad goes to shit or worse comes to wurst. This phrase was easier to recall and picturesque. I can just imagine the atrocities you have committed trying to redo Shakespeare.
How’s ’bout: shit, them coins ain’t worth nothin no mo?
Ned,
It’s not either or…it’s wise to have every type of prep: water, food, guns, ammo, communication land, etc. and depending on budget, savings and circumstances, gold for wealth – silver for transactions.
TSHTF could go a lot of ways, Mad Max, controlled crumble and different stages and timing in-between.
I agree the life sustaining basics should be front loaded, but if you have the resources PMs as a percent you are comfortable with is more arrows in a prepared quiver.
Can’t eat a dollar bill either, Ned! A hard asset is a hard asset. Look up the term if you’re unfamiliar with it. Silver and gold are hard assets, along with the other crap you listed.
When SHTF comes around I’d rather barter than worry about “intrinsic value” of a metal that I cannot eat, will not warm me, cannot power my chain saw, cannot grow if I plant it…….call it being a pragmatist. OTOH, is you want to take my Ag coins at that time then make me an offer. I am partial to well marbled end pieces of prime rib and a bottle of good wine to wash it down. Crumbly cheese with blue mold also appreciated. But in a pinch plain old ‘taters are fine, as long as there is plenty of butter to slather over them when they are mashed. I’m with Ned on this one.
https://www.kitco.com/scripts/hist_charts/yearly_graphs.plx
Anyway, silver has a way to go to get back to $48 (about May 2011) but it will someday; and I predict that someday the people holding the Silver ETFs a few minutes to long (who know they will never be handed any Silver) will also not be handed the cash value of their ETFs (TPTB will steal that “pot of Gold”).
Not to worry you can still buy silver quarters and dimes by the bags.
We used to buy them and sort them at Family of Families meetings in 2008 through 2011. LOL… It was kind of fun and sometimes, we found some real collectibles because you get all sorts of quarters and some of the late 1880s mintings are really nice if not worn.
Okay, enough about junk silver sorting in shadowy meetings in a VFW in OKC.
none is DD
That was me.
I have a few bank bags filled with pre-1964 silver coinage. The problem is that much of it has some numismatic value so it generally sells for a significant amt above spot.
Example: a roll of silver qtrs. or halves contain about 7.2 oz’s of ASW ( impure silver is measured in aggregate silver weight)– but they sell for near $140 a roll ( appx $20 an oz) Silver eagles can be had around $18.50-$19 in quantity and that is .9999 pure. Bars and rounds can be had at eBay’s “daily specials” for almost straight value ( currently ads for as low as $17.20 an ounce for off-brand 1oz bars)..
If you want to stack for silver bulk, volume–10 oz bars for around $180 each is a nice way to go. Add 1 or more of these a month pending your budget and it adds up to a nice, emergency funds holding.
javelin,
Once a month I stack some silver & stash some ammo!
Robert,
I watched silver from the sidelines go from 5 bucks an oz. to 50 bucks an oz. during the Hunt Brother run up in the early 80’s when they tried to corner the market and take on the Banksters.
The Banksters kicked their asses on their margin calls and turned two billionaires into millionaires almost overnight.
You know how to make a small fortune? Invest a large one in paper metals on margin call and stick your finger in the Bankster’s lidless eye of Sauron.
The U.S. Mint is one of the only Federal units worth keeping. The CBO is uesful too, but nobody (in gov’t) ever listens to them.
The good news is that there are still THOUSANDS of gold Trump coins available.
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(Is it me or does Trump look like Bobby Knight??)
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1. During SHTF your gold and silver is pretty much WORTHLESS.
2. I own gold and silver.
3. Silver is either speculative- meaning you hope it doubles or triples in value AND you can sell it before a crash- or, it’s a super long term investment- meaning it’s only worth something long after the shit crashes and a new system is devised- hopefully one that recognizes gold and silver as everyday currency.
Most of the discussion misses-though you do not-the notion that there will be a period of time between SHTF and a return to “normalcy”, whatever normalcy means. How long is that period of time? Not sure, but the smart cookies are the ones who have provisioned for their family to at least survive-if not even prosper-during that dark period. Precious metals may not be so precious if you-and the rest of civilization is cold and starving; a loaf of bread and a blanket might just get you by for another couple of days. My first priority would be to lay in everything needed to survive for a couple of years and only then consider investing in metals.
It is said after the asteroid hit the Yucatan millions of years ago it was several years before the dust settled, temperatures started to climb, and conditions slowly returned to “normal”. But hell, who am I? I wasn’t there.
Barbarians. You ought to put your dollars into bitcoins. They’re the future of money! Blockchain means you don’t have to worry about losing your money. And it won’t be taking up space in your house, where someone could steal it. Now, it can be someplace safe, like a thumbdrive or the internet. Sure, it lost a little bit of value, but it will go back up because everyone trusts bitcoins because they’re the future of money!