Gold rose $55 last week in its third consecutive weekly gain, due in part to the passage of yet another economic stimulus package by the U.S. Congress over last weekend. Gold closed last week at nearly $1,900, its highest level since November 6. This latest $900+ billion stimulus package is bound to spur inflation in 2021 and record-setting budget deficits this year and in 2021, as well as in future years.
Continue reading "Gold and Silver are About to Score Their Best Year Since 2010 – What About 2021?"
HR6192 passed the Senate last week, meaning that it will become law once the President signs the bill, marking the 100anniversary of the Morgan dollar/Peace dollar transition year of 1921 with newly-minted editions of both series, sparking widespread new interest in both the new and old series of Morgan and Peace dollars in all their mintage years and Mint marks. Here is their basic history:
Continue reading "The New Morgan & Peace Dollar Bill Passed Congress – Spurring Coin Interest in 2021"
With so much money sloshing around, courtesy of the Federal Reserve, prices are being bid up in stocks, real estate and even Bitcoin. With Bitcoin trading near its highs from several years ago, the marketers for this new “phantom money” are out in force on the financial news channels trying to sell investors on a $19,000 “coin” that really isn’t a coin but a line of computer code somewhere in the “cloud” up there.
Continue reading "Bitcoin is Back with a Vengeance, Calling Gold “Worthless”"
Our 2020 predictions for gold and silver turned out to be conservative. Way back in July 2019, when silver was barely $15, we “boldly” predicted $18 silver by year’s end and $20 silver in 2020. Well, we reached $18 silver in three months and $20 silver by July 2020. Then silver rose to $29 in August 2020!
Continue reading "Our 2020 Gold and Silver Price Projections Were Too Conservative! How About 2021 – Could We Be “Too Conservative” Again?"
During November, the U.S. Mint sold 4,805,000 one-ounce Silver American Eagle coins, more than 10 times the 463,000 coins sold in November 2019, bringing the year-to-date totals to almost a 100% gain (29.3 million ounces vs. 14.8 million last year). Gold American
Continue reading "Silver American Eagle Sales Soar 10-Fold in November 2020 Over November 2019"
As America’s Gold Expert®, I’m often accused of being a “cheerleader” for the precious metals and rare coins, but this year I’m actually a little more conservative than Citibank and some of the other mainstream banks.
For Gold, I’m predicting a slightly lower range than Citibank of somewhere between $2,200 and $2,350 but I don’t think gold can reach $2,200 within three months, like Citibank does. I’m thinking it will take six months to reach $2,200 and a more likely peak price would be $2,350 in the second half of 2021.
Continue reading "America’s Gold Expert® Predicts $2,350 Gold and $32 Silver in 2021"
Gold gained $100 in the first week of December, rising from $1,762.55 on the final November 30 London price setting to $1,865 on Monday, December 7. In the same seven days, silver is up even faster, +11%, from $22.15 on November 30 to $24.60 on December 7. The U.S. Dollar index declined about 1% in the same week, but that doesn’t account for the nearly 6% rise in gold in that same time frame. The primary engine for rising gold and silver prices seems to be the fear of another major lockdown and the increased likelihood that another major stimulus (spending) bill will pass Congress this month.Continue reading "Mainstream Banks See Gold Rising to $2,200 to $2,400 and Silver Reaching $30 to $40 in 2021"
The advent of Coronavirus has caused the temporary end of handshakes, big Thanksgiving dinners, open school rooms, large corporate meetings, big football crowds, concerts, night clubs, conventions, most air travel and now some newspaper headlines tell us that coronavirus could spell the end of coins and the cash economy. Every financial transaction will take place online or with credit cards, Pay Pal, crypto-currencies or some new program they claim.
Continue reading "Will Coronavirus Mean “The End of Coins”? (I Think Not!)"
During November, the U.S. Mint sold 4,805,000 one-ounce Silver American Eagle coins, more than 10 times the 463,000 coins sold in November 2019, bringing the year-to-date totals to almost a 100% gain (29.3 million ounces vs. 14.8 million last year). Gold American Eagle sales were up 673% in November, with 85,000 Troy ounces sold vs. 11,000 in November 2019 that brought the 2020 11-month total up to over 5-fold from 2019 (794,500 Troy ounces in the first 11 months of 2020 vs. 150,000 ounces in 2019). The Buffalo Gold coin sales were also up strongly, +370% for November and +286% for the year-to-dateContinue reading "Silver American Eagle Sales Soar 10-Fold in November 2020 Over November 2019"
Irving Berlin had most American holidays cornered in his songs (White Christmas, Easter Parade, God Bless America), but his Thanksgiving song, nominated for an Academy Award as “Best Song,” didn’t contain the word thanks. It was Count your Blessings:Continue reading "Songs About the Holidays"
As we take a four-day break for Thanksgiving weekend this Thursday, we all have personal reasons for giving thanks, but we also have overriding reasons for giving thanks for national blessings in this particularly difficult year of 2020, which everyone has come to despise. Consider these opening thoughts:
Continue reading "Ten Reasons for Giving Thanks in a Very Rough Year"
Gold and Silver Long-Term Fundamentals are Sound
Gold fell $30 Monday morning, November 23, to $1,835, based on promising COVID-19 vaccine news and stalled progress on more stimulus packages in Congress, but these are all temporary, knee-jerk reactions, which have no bearing on the long-term fundamentals for gold and silver. As we said last week, this may be an unrealistic “honeymoon” attitude toward Joe Biden, or temporary amnesia about all the deficit spending in 2020, since rising inflation, more deficits and social unrest likely await us next year.