Federal FY 2024 Ends Monday – With $2 Trillion in Red Ink! Does Congress Care? Does Either Candidate Care? Do the Voters Care?

The United States has gained over $20 trillion of our total $35.4 trillion national debt in the past 16 fiscal years and nearly $11 trillion in red ink over the past five years. Imagine that!

Gold Tops $2,600 and Silver Surpasses $31: What’s the New Story (If Any)?

Bank of America instructed investors to “do what central banks are doing ... buy gold,” just like we have been advising here for years. They also pointed out (as we did recently) that, “Gold is now the second-largest reserve asset (16.1% vs. 15.6% for the Euro) among all central bank reserves.”

Gold Passes Euro As Second-Biggest Central Bank Holding - Behind Only the U.S. Dollar

For years, there was more total value held in euros than gold but since 2013, the total central bank holdings in euros have shrunk sharply and gold has now surpassed the euro as the number two holding by global central banks.  This demonstrates that central banks have been voting for the world’s oldest and best currency, gold. As I have said for quite some time, if gold is good enough for countries around the world to invest in, you should be adding it to your portfolio on a regular basis, as well.

August Market Review and Year-to-Date Metals Performance

By the end of August, most stock markets were modestly up, as if nothing had happened, but gold and silver were like “Old Man River.” Both just kept rolling along, surpassing all the stock market indexes, plus outperforming crude oil and the U.S. Dollar Index.

Gold’s Continued Rise Keeps It A Solid Investment Buy

Gold reached another all-time high on Monday, August 26, trading above $2,520. Silver also rose popping back above $30 per ounce for the first time since July 17, as the U.S. dollar has fallen over 5% so far in July and August, boosting gold by nearly 10% in the last two months.  In the futures market, the December 2024 gold contract rose $44 on Monday to trade at $2,552.70.

Gold hit a new all-time high and doesn’t seem to be retreating, while the dollar has weakened this summer, assisting in gold’s rise in price. I will write more on this next week, so be sure to sign up for my weekly Metals Market Report to stay up to date.

Mike and Our Team Win the Prestigious PNG Sol Kaplan Award Again

This year, I was part of a team that won the Professional Numismatists Guild’s (PNG) 2024 Sol Kaplan Award for combatting a major example of mail fraud and theft involving valuable coins shipped using the U.S. Postal Service to our customers over the past few years.

July Market Review – As We Enter August’s “Stock Market Hurricane Season”

During the first few days of August, the stock market has suffered the onset of its annual “hurricane season” as August and September are typically the two worst months of the year in stock market history – as well as two of the best months, historically, for gold’s performance.

Holding a Coin is “Like Holding History in Your Hands”

There are many ways to hold history in your hands. My parents and I collected the signatures of famous people, including Presidents of the United States. Some people collect first editions of classic books or original works of art. To me, nothing speaks of history more than a specific mint mark and date on a rare American coin, along with the obverse and reverse sculptures and the stories behind them.

Gold Price Indicates More Growth Ahead For Investors

After setting another all-time high above $2,470 last Wednesday, July 17, and remaining above $2,450 during most of the Republican National Convention, gold took a predictable step back after the euphoria of the convention ended, dipping briefly below $2,400 on Friday, July 19 before closing at $2,410 on Tuesday, July 23.