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Metal Market Report November 2021 - Week 1 Edition

November 2021 - Week 1 Edition

U.S. Mint Continues to Meet Skyrocketing Gold & Silver Eagle Demand

Despite high premiums, occasional work stoppages and delivery delays at the U.S. Mint, the sales volume in Troy ounces for Gold and Silver American Eagle coins, once again, eclipsed last year’s totals. Despite nearly two years of COVID, October gold sales in both the American Gold Eagle series and the American Buffalo Gold Bullion Coin series are up about 1,200% over totals from 2019. Comparing October 2021 to October 2020 shows a 100% sales increase in the two-gold series from the U.S. Mint.

There’s a similar positive trend in the American Buffalo Gold bullion coin sales. Year-to-date, sales are up 51% for American Gold Eagles, 43% for American Buffalo Gold Bullion and +9% for American Silver Eagle coins.

This rise in sales is important because as more new investors enter the bullion market, we are likely to see more people graduating into the rare coin market, which usually occurs over a two-year period after their initial precious metals purchase. That’s because there’s something magic about the “heft” of a heavy gold or silver coin, along with the beauty of its design. It’s like holding a piece of American history in your hands, which often causes investors to look into the noble history of American coins. This is amplified in 2021 by the centennial celebration of the Morgan silver dollar and Peace silver dollar transition year of 1921 (the final year of the Morgan dollar and the first year of the Peace dollar), which should help increase sales of these classic silver dollars.

Call our professional account representatives today to hear more about these exciting Silver and Gold products, plus receive free award-winning materials to help guide your collecting and investing decisions.

Silver Closed Up 11.5% in October

Silver Closed October up 11.5%, beating gold by a 5-1 margin for the month, but still trailing gold for the year-to-date.

OCTOBER 2021 Market Performance Comparisons

Inflation Continues to Rise – Putting the Federal Reserve in a Bind

This week the Federal Reserve’s Open Market Committee (FOMC) meets once again in their eight-times per-year policy setting committee, followed by a press conference on Wednesday around 1:15 pm CST. They are widely expected to announce the beginning of the “tapering” of quantitative easing (QE), their purchase of $120 billion per month of bonds to try to keep interest rates low and supply new liquidity.

Some major central banks have already admitted inflation is far from transitory. Last week, the Bank of Canada ended their QE and signaled that they may hike rates as soon as April, and the Reserve Bank of Australia let short-term rates move way past their targets, signaling they are ready to tighten money soon.

So far this year, the Fed has ignored the worst inflation in 30 years, caused by massive infusions of new money since March 2020 in their attempt to stimulate the economy after COVID-19 struck. That money has led to market bubbles in stocks, Bitcoin, real estate and various commodities, but not yet in gold.

Rising energy and food prices hurt the poor and middle class the most, so inflation will be a major election “hot button” in the mid-term elections next year. Here are some energy and food price gains so far in 2021:

The S&P Commodity Price Index is up over 47% this year and the more traditional CRB Commodity Index is up 42.6%. Last year, silver was the best-performing commodity, up over 40%. It won’t be long before gold and silver catch up to the other commodities in this year’s runaway inflationary environment. Call now to add more precious metals to your portfolio!

 

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