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Mike Fuljenz Weekly Report

January 2023 - Week 3 Edition

Gold Continues Strong Run to Kick Off 2023

Gold is up 5% so far this year on the futures market and +4.6% on the spot market, beating stocks by a long shot – continuing a three-month bull-market surge coinciding with the peak in the U.S. Dollar Index (DXY) last October.  In that span of time, gold is up 15.8%, platinum is up +14.7% and silver is up +27.9%, while the Dow is up 12.3%, the S&P 500 is up just 8.5% and the once red-hot NASDAQ is up under 4%.

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January 2023 - Week 2 Edition

Year-End Summary: Precious Metals Rally to “Victory” in the Fourth Quarter

Just like a football or basketball game where the favorite team lags for three quarters only to rally for a win, gold and silver rallied in the fourth quarter to take the lead and win the game at the buzzer.

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December 2022 - Week 4 Edition

CNBC Panel Debates $4,000 Gold in 2023

We’ve already reported how Ole Hanson of Denmark’s Saxo Bank sees $3,000 gold next year, with a potential surge to $4,000. Last week, a CNBC panel held on December 22 debated the fate of gold next year. One panelist, Juerg Kiener, managing director and chief investment officer of Swiss Asia Capital, said gold could surge to $4,000 next year as interest rate hikes and recession fears keep markets volatile.

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December 2022 - Week 3 Edition

Gold Jumped Significantly Since Fed’s Interest Rate Hike

Gold has traded between $1,785 and $1821 since Wednesday, December 14, after the Federal Reserve raised rates another 0.5% and issued a downbeat report on potential future rate increases in 2023.

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December 2022 - Week 2 Edition

Denmark’s Saxo Bank Analyst Ole Hansen Sees $3,000 to $4,000 Gold in 2023

We haven’t seen a bold gold prediction from a leading global bank in a long time but last week Ole Hansen, the respected commodity strategist at Denmark’s Saxo Bank, says it’s possible for gold to climb as high as $4,000 next year. He cites his reasons being global inflation – despite rising interest rates – on top of a “war economy mentality,” rising deficit spending and a possible global recession in 2023.

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December 2022 - Week 1 Edition

Silver Shines Brightly

Gold topped $1,800 Friday and stayed there over the weekend for the first time since last July but it could not hold on to those gains Monday morning. Silver, however, had stronger percentage gains and held those gains, trading above $22 per ounce for the first time in six months. Silver has risen nearly 25% on the London Fixing, from $18.43 on October 19 to $22.99 on December 5. In the same time, gold rose 9%. Our professional account representatives are here to assist you in getting the best precious metals options available.

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November 2022 - Week 5 Edition

Gold Enjoyed a Superb November

Gold has enjoyed a superb November. We’re not quite through with the month, but gold is up over 7% in the first four weeks of November. The final closing London gold fix on October 31 was $1,639, and the November 28 opening quote was $1,763, up 7.57%.

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November 2022 - Week 4 Edition

The History Surrounding Thanksgiving Day & Sarah Hale May be Different than You Think

As we celebrate Thanksgiving with our friends and family this week, I wanted to share a couple of stories of how the traditional holiday began more from fable than fact as Pilgrims didn’t wear big hats and clunky shoes.

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November 2022 - Week 3 Edition

Tour One of the Four Operating Mints – or Historic Mints, or the BEP

When I was growing up collecting coins, there were only three operating Mints and two mint marks. There was no “P” for the Philadelphia Mint, since it was the original Mint and “didn’t need no stinkin’ badge” to proclaim its supremacy. So, we were on the lookout for a “D” mark for the Denver Mint or “S” for the San Francisco Mint, since the New Orleans Mint closed in 1909, and the West Point Mint hadn’t opened. As time permits, we want to take you on a virtual written tour of operating mints, one at a time, starting next week.

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November 2022 - Week 2 Edition

World Gold Council Cites Strong Third-Quarter Demand (+28%) vs. Flat (+1%) Supply Growth

According to the latest World Gold Council quarterly report, released last week, central banks bought a record of nearly 400 metric tons of gold last quarter, bringing total central bank gold buying for 2022 (through three quarters) to the highest level since 1967, when the dollar was still backed by gold.

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October 2022 - Week 4 Edition

London Bullion Market Association (LBMA) Sees 10% Higher Gold & 50% Higher Silver Prices in 2023

The London Bullion Market Association held its annual conference in Lisbon, Portugal this month, and members were polled for their outlook on precious metals. These are the world’s leading gold miners, refiners and bullion traders from the largest bullion firms in the world. Despite gold’s decline in dollar terms this year, members predicted gold rising an average 10% over the next year and silver rising by over 50%.

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October 2022 - Week 3 Edition

Gold’s Return Just a Matter of Time

Gold rose to $1,674 early Monday on a weaker dollar, then settled back to $1,665. Silver rose more, up 2%, from $18.32 to $18.70. The U.S. Dollar Index fell 1%, from over 113 on Friday to just under 112 on Monday, due to soaring interest rates in Europe, giving the dollar no real competitive advantage on returns.

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October 2022 - Week 2 Edition

Dollar’s Rally Pushes Gold Down

Gold is back under $1,700, mostly due to the dollar’s rally back to 113 on the U.S. Dollar Index vs. 110 a week ago and 97 at the start of the year. Last Friday, a “stronger than expected” jobs report pushed interest rates and the dollar up and gold and stocks down.

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October 2022 - Week 1 Edition

Prepare for a Much More Positive Fourth Quarter!

If you take all 47 years in which it was legal for Americans to buy gold (1975 to 2021), the average six-month gain from August 1 to January 31 was 5.93%, or 15-fold in 47 years, compounded. However, the average six-month gain from February 1 to July 31 was only 0.8% per year or 45% total, in 47 years. In other words, if you just bought and held gold, your gains from August to January were over 30 times your gains from February to July.

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September 2022 - Week 4 Edition

As Hurricane Ian Hits America, Consider Your “Green” Escape Plan

We know many friends in “hurricane country” and hurricanes sometimes hit our homes near Beaumont, Texas. Don’t send any packages to Florida this week. They won’t get there. We wish our friends in Florida and Georgia the best, but I hope you’re not counting on escaping the storm in an electric car or riding out the storm with a “green” generator.

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September 2022 - Week 3 Edition

American Silver Eagle Bullion Coin Premiums are Still Too High

We have reported the fact that Rep. Alex Mooney (R-WV) wrote a letter to Secretary of the Treasury Janet Yellen and Mint Director Ventris C. Gibson on August 25, inquiring about the Silver American Eagle bullion coin delays and shortages. We took a look at the Mint’s September 2022 bullion coin sales and found they had sold 833,000 ounces of Silver American Eagles through September 20. Last September (2021), the Mint sold 2,735,000 Silver American Eagles. This is not an improvement over last September.

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September 2022 - Week 2 Edition

Silver and Gold Looking to Make a Turnaround

Silver soared by over $1 an ounce on Monday, September 12, rising from $18.80 to $19.85, touching $20 at one point. Gold also rose Monday, as the U.S. dollar finally took a dip, with investors waiting for the release of the Consumer Price Index (CPI). On Tuesday morning, the CPI came in “hotter” than expected, which sent both stocks and gold down, since that implied more rate increases down the line.

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August 2022 - Week 5 Edition

Inflated Dollar Keeping Gold Depressed Domestically

The main reason gold is staying low in U.S. dollars but gold is still up for the year in terms of many other currencies. The euro began 2022 at $1.1325 and gold cost 1,607 euros per ounce. Now, the euro has fallen under $1 and gold costs 1,742 euros per ounce, up 8.4% so far in 2022.

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August 2022 - Week 4 Edition, Part 2

Report from the World’s Fair of Money in Chicago – And My Latest Book Award

I gave you a quick market summary earlier this week but now that gold has recovered somewhat and I’ve looked over my notes and photos, I’ve had chance to digest all the news from the annual World’s Fair of Money in Chicago.

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August 2022 - Week 4 Edition

Gold is Behaving Like a Seesaw

Gold has been up and down this summer in a mirror image of the U.S. Dollar index (DXY).

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August 2022 - Week 2 Edition

Deficits Threaten Chronic Depression If Not Addressed Soon

Our current debt-to-GDP level is now 130%, since our GDP is $23 trillion and our federal debt has reached $30 trillion (30 divided by 23 is 1.3, or 130%).  The cost of servicing this $30 trillion in debt is crippling if we ever return to normal late 20th century historical interest rates of around 5%.  That amounts to $1.5 trillion in interest costs per year (5% of $30 trillion), with debts rising each year.

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August 2022 - Week 1 Edition

Coins Usually Hold Up Better Than Most Paper Investments

If you have specific needs or a wish list in mind, be sure to communicate those needs to your account representative so you can be first in line when these rarities become available. I am constantly searching for “Wish List” coins for you.  From as far back as we can measure time, coins made of precious metals have held their value better than paper receipts for wealth.

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July 2022 - Week 4 Edition

The Rare Coin Market Remains “Hot”

Whether gold bullion is declining, flat or rising, the rare coin market remains “hot” in our select sectors. Even while the dollar was soaring and gold was falling – from the end of May to mid-July – rare coins were extremely strong.

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July 2022 - Week 3 Edition

The Dollar Beat all Other G-10 Currencies – with Gold Rising in 8 of 10 Top Currencies

Gold has risen in 8 of the 10 leading currencies through July 12 this year – all but the U.S. and Canadian dollars. 

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July 2022 - Week 2 Edition

Dollar’s Buying Power Affecting Gold Prices

Even though gold is down 4.7% in dollar terms this year, it is up an average of 8 percent in terms of most other major currencies.

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July 2022 - Week 1 Edition

First Half Review – The Worst U.S. Stock and Bond Markets in 150 Years!

By most measures, the U.S. stock market had its worst first half since 1970, and many commodities are soaring, due to rising inflation, but if you dig deeper, the “tale of the tape” looks even worse than that.

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June 2022 - Week 5 Edition

The Number of Gold Investors and Volume of Gold Investing Keeps Climbing

This week, we heard from the Royal Canadian Mint that total international gold bullion coin sales rose in the first quarter by 14%, year-over-year, to nearly 59 metric tons. That made it the best quarter in 35 years for gold bullion coin sales on a global basis, and we know from history that after 18-24 months about one in six bullion coin investors start to look into buying rare coins.

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June 2022 - Week 4 Edition

The Fed Created Runaway Inflation in 2020 and 2021 – Now it is Sopping Up That Money, Depressing Stocks and Bitcoin (But Not Gold)

Metals have held up remarkably well considering the U.S. Dollar is now at a 20-year high against a basket of other major currencies. The dollar is up simply because the Federal Reserve (Fed) is raising interest rates while Europe and Japan are keeping their rates near zero, so investors are pouring cash into 3% dollar returns.

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June 2022 - Week 3 Edition

Honored to Receive Prestigious Award for an Anti-Fraud, Anti-Counterfeit Column

Two weeks ago, on June 3, I was awarded 1st place honors from the Press Club of Southeast Texas for a column I wrote in 2021, entitled “China Continues to Profit from Counterfeit Culture that Jeopardizes Safety and Economy.” I share this honor with my “Team Mike” staff, who helped provide much of the research. Read Part 2 of my award-winning article in this week’s Metals Market Report.

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June 2022 - Week 2 Edition

Honored to Receive Prestigious Award for an Anti-Fraud, Anti-Counterfeit Column

Last Friday, June 3, I was awarded 1st place honors from the Press Club of Southeast Texas for a column I wrote in 2021, entitled “China Continues to Profit from Counterfeit Culture that Jeopardizes Safety and Economy.” I share this honor with my “Team Mike” staff, which helped provide much of the research.

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June 2022 - Week 1 Edition

Gold Beats the S&P         

Through May 31 this year, gold is up about 1% while the S&P 500 is down 13%.

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May 2022 - Week 4 Edition

Gold and Rare Coins Should Soar During Times of “Stagflation”  Like Now!

This economic nightmare is along the lines of the 1970s “stagflation” decade, when gold rose from $35 to $200 from 1971 to 1974, then paused before rising from $103 to $850 between 1976 to 1980 and the rare coin market did even better.

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May 2022 - Week 3 Edition

The Passing of Naomi Judd Brings Back Memories of My Grandfather

Gold is Trading Up 2% for the year, which is somewhat amazing in light of the U.S. Dollar’s near 10% gain this year and its 15% gain in the last 12 months. The U.S. Dollar Index (DXY) was 90.1 on this date last year and it is 103.8 now (+15.2%), which means that if gold is slightly up in U.S. dollar terms, then it is massively up in terms of many other currencies. Indeed, gold is now trading at record highs in euros.

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May 2022 - Week 2 Edition

Gold at Record High in Euros

Gold is Trading Up 2% for the year, which is somewhat amazing in light of the U.S. Dollar’s near 10% gain this year and its 15% gain in the last 12 months. The U.S. Dollar Index (DXY) was 90.1 on this date last year and it is 103.8 now (+15.2%), which means that if gold is slightly up in U.S. dollar terms, then it is massively up in terms of many other currencies. Indeed, gold is now trading at record highs in euros.

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May 2022 - Week 1 Edition

The U.S. Mint More Than Doubled its Gold Bullion Sales in April (Over 2021)

As for physical gold, the U.S. Mint had a banner month for gold bullion sales in April, with both the American Eagle and American Buffalo gold coins doubling their sales levels over April of 2021.

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April 2022 - Week 4 Edition

Biden’s Political Mismanagement Will Likely Cost the Democrats Their Congressional Majority – and That’s Good for Gold

The current betting at FTX (where people bet real money) shows a 77% chance that Republicans will take over the Senate and an 85.8% chance the Republicans will take back the House.

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April 2022 - Week 3 Edition

Gold ETF Purchases Hit a Record High in March & Goldman Sachs Boosted its Gold Target to $2,500

In March 2022, investor purchases of gold exchange-traded funds (ETFs) and other gold-based products reached a new record high – five times the amount sold in February and eclipsing the previous record peak of $9.4 billion set nearly two years ago in July 2020.

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April 2022 - Week 2 Edition

Gold’s Rally Continues

Gold rallied from $1,950 to nearly $1,980 Tuesday morning April 12, following the release of the Consumer Price Index (CPI), which rose at the highest rate in 40 years.

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April 2022 - Week 1 Edition

U.S. Mint Gold Bullion Sales Rose Sharply in March

U.S. Mint gold bullion sales doubled in March 2022 (vs. March 2021) for the American Eagle and American Buffalo series.

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March 2022 - Week 5 Edition

Expert Guide to Buying Gold and Silver Cheaper

Current year silver and gold bullion coins are very popular when they are first released but if you want to save on your bullion purchases, you can sometimes buy prior year bullion coins for less than the current year coin. Remember, current year coins become prior year coins in less than 12 months, anyway. We highly recommend, that if you are making large bullion purchases, to always ask us if a prior year’s product would save you money on your bullion purchases. Every dealer should advise customers of this money-saving option.

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March 2022 - Week 4 Edition

Gold ETF Flows Continue Strong in February

Through February 23, 2022, – the day before Russia invaded Ukraine – data from Refinitiv Lipper showed gold and other precious metal ETFs have seen an inflow of $4.7 billion after witnessing outflows worth $7.8 billion last year. After the invasion, all indications are that gold ETF buying is accelerating in March.

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March 2022 - Week 3 Edition

Coins, Porkchops and Proposals

Last week, I was in Colorado Springs at the American Numismatic Association’s National Money Show. I was buying coins for our clients and networking with leading dealers from across the country. Most agreed with me that the coin market remains hot, overall, and many quality rare coins that we deal in and recommend are becoming harder to find and are rising in price.

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March 2022 - Week 2 Edition

America’s Gold Expert Predicted Gold’s Rise

Gold topped $2,000 per ounce on Monday, March 7, so it already fulfilled our annual minimum prediction of $2,000 per ounce in the first 10 weeks of the year.

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March 2022 - Week 1 Edition

Portfolio Planning Principles for Owning Gold and Rare Coins

If you see a rare coin for sale at a substantial discount from its normal price, do not expect a bargain. It may be a falsely graded coin, a counterfeit, or a fraud.

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February 2022 - Week 4 Edition

Gold is over $1900!

Gold is over $1,900 for the first time in eight months due the anticipated war between Russia and Ukraine. 

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February 2022 - Week 3 Edition

How to Handle the New Safety Deposit Box Dilemma

I have long recommended that clients store most of their valuable coins in a bank safety deposit box or security deposit center and I am in touch with many law-enforcement people, including retired FBI agents and police chiefs who share the belief that you are far safer storing your coins in a safe facility off-site.

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February 2022 - Week 2 Edition

Gold is Your Multi-Generational Life Insurance

Considering the dual threats of long-term deficits and inflation destroying the value of the dollar, gold and silver are certain to retain their permanent value, hard-earned over the centuries as precious metals, hard to find, mine and impossible to mass produce. Most paper currencies since the birth of the printing press over 550 years ago have eventually fallen by the wayside, inflated into worthlessness.

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February 2022 - Week 1 Edition

Gold Buyers Do Not Fear the Fed Raising Short-Term Rates Later This Year

The financial pundits constantly tell us that gold suffers when interest rates rise, but that is not the case in recent history. 

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January 2022 - Week 4 Edition

Dr. Mike Fuljenz Addresses Texas Coin Dealers

This past weekend, I was a featured speaker about gold coins at the big Money Show of the Southwest in Conroe, Texas. Convention officials were pleased with the increase in the number of dealers participating in the annual show. With gold and silver rising and more customers and dealers participating in the coin market, 2022 is looking like a very good year to buy gold and silver coins!

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