Gold Poised to Rise in 2024

Gold rose from $1,915 to $1,930 on Friday morning, September 15, and held on to most of that gain before rising more by Tuesday, September 19.

The 2023 Fiscal Year Ends September 30 – Rising to a Post-Covid High

The Federal Reserve has raised the Fed Funds rate from near-0% in April 2022 to over 5% now. So, servicing that debt at 5% will cost taxpayers $1.65 trillion per year … History has shown that traditionally, in trying economic times and during periods of increased inflation, gold and silver have performed well.

August Report on the Markets

August is generally a time of market doldrums and that was true for the major stock market indexes this year. They all declined, ranging from -1.77% for the benchmark S&P 500 to -5.17% for the small-stock Russell 2000 index. The S&P fared worse in the opening three weeks but closed August strong.

Silver rose just over 1% and platinum was the leading metal in August at +3.27%, while gold declined 1.44% and palladium was the worst-performing precious metal for both August and 2023 year-to-date.

Gold Investors Continue to Fight the “No Yield” Bias on Wall Street

Since the banking crisis hit the front pages on March 9 of this year, gold is up a little over $100 an ounce, from $1818 to $1,938 but silver is up over $4 an ounce from $20.12 to $24.75.

Why is Silver Rising While Gold is Flat?

Silver is strong this week, awaiting the central bankers’ annual conference in Jackson Hole, Wyoming, at the end of the week.

Investors Favor Gold Over Stocks in the 2023 Gallup Poll

The Wall Street Journal covered the annual Gallup Poll of American investors’ favorite asset categories on Tuesday, August 8, in an article entitled “Individual Investors Seek Safety of Gold.”

Fitch Ratings Downgrades U.S. Treasury Debt

Gold is lower on Monday, August 7, mostly on expectations of slightly lower Consumer and Producer Price inflation report to be released on Thursday and Friday – but inflation is a relatively small consideration in light of last week’s debt downgrade of U.S. Treasury securities by Fitch, a major credit rating agency.

Reminder: Send Me Your “Wish List” of Coins THIS WEEK

I want you to know that my main purpose for going to this and other shows is to look for specific coins for you, our clients. Now is the time to make up your “wish list” of coins and call your account representative so that we can have a master list to look for those specific coins you want the most for your collection or investment portfolio.

Get Us Your Wishlist Ready For The World’s Largest Money Show
Put America’s Gold Expert® To Work For You!

This is the week you absolutely need to get with your account representative and let them know which coins you have on your wish list, so my team and I can help find the coins of your dreams.

GOLD and SILVER on the Move, Again

Gold has now risen $50 (and silver +$2) in July.  Gold jumped $20 in one day last week based on the slow growth in June Consumer Prices, implying a likely “pause” by the Federal Reserve in their next interest rate policy meeting on July 25-26.