GOLD ASK 1427.45 1.20
SILVER ASK 16.48 0.22

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THE MIKE FULJENZ METALS MARKET REPORT

 

Mike Fuljenz Weekly Report

November 2020 - Week 4 Edition

George H.W. Bush Coins Launch the “Roaring 20s” Coin Rush Next Week

We have been writing about the new “Roaring 20s” increase in new gold and silver coins to be designed and minted in the 2020s, including a new design on the reverse of the American Eagle gold and silver coins next year – the first change in 35 years, since their inauguration in 1986.

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November 2020 - Week 3 Edition

World Gold Council Shows Private Investment Gold Demand is Growing in 2020

The latest World Gold Council (WGC) report of third-quarter gold supply and demand showed that total holdings in gold-backed ETFs reached a record high 3,880 metric tons.

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November 2020 - Week 2 Edition

Gold is One of the Winners of the U.S. Election” – Barron’s, November 9, 2020

In the upcoming edition of Barron’s, going to press Friday night, the outlook for gold was strong, and nothing really changed over the weekend, except that Pfizer chose to announce its big vaccine news in the “Biden era” and drive gold down briefly. However, the principles in this pro-gold column still apply.

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November 2020 - Week 1 Edition

Gold Falls, Rises and Falls Again Based on Changing Election Expectations

Giant banks like Bank of America and Goldman Sachs say that silver could double to $50 per ounce if Joe Biden wins next week’s presidential election, primarily due to enactments of some elements of the New Green Deal, which could double silver’s industrial demand for solar panels and other applications.

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October 2020 - Week 4 Edition

Big Banks Say that Silver Could Double to $50 with a Biden Victory

Giant banks like Bank of America and Goldman Sachs say that silver could double to $50 per ounce if Joe Biden wins next week’s presidential election, primarily due to enactments of some elements of the New Green Deal, which could double silver’s industrial demand for solar panels and other applications.

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October 2020 - Week 3 Edition

Commerzbank Sees Higher Gold Prices

Last week’s New Orleans Investment Conference featured several speakers who predicted $3,000 to $5,000 gold prices within the next few years, but that would normally be expected in a gold-oriented conference.

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October 2020 - Week 2 Edition

We Are Entering a “Magical Five Years” of New Coin Creation in Advance of 2026

Do you remember the Bicentennial of 1976 and all the tall ships in New York harbor and the welcome celebration of America’s 200th birthday

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October 2020 - Week 1 Edition

New Reverse Design for American Eagles Now Approved for Mid-2021

Last Thursday, the U.S. Mint unveiled the new reverse design for the American Eagle Gold and Silver bullion and collectible coins for 2021, a year which marks the centennial of the first Peace Dollar and the final Morgan Dollar year as well as the 35th anniversary of the American Eagle Coin, which debuted in 1986.

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September 2020 - Week 5 Edition

Citicorp Still Sees New Gold Highs over $2,100 by Year’s End

Even as gold prices began falling last week, Citicorp was predicting record highs by year’s end.

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September 2020 - Week 4 Edition

“Panic” Gold Buying in Turkey is a Typical Reaction to a Collapsing Currency

Gold has been rising when the dollar falls and falling a bit when it rises, but when the dollar begins to fall farther and faster, you can expect a strong rush to gold, as has been happening in Turkey and – to a lesser extent – in countries like Russia and Argentina, where their currency is chronically weak.

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September 2020 - Week 3 Edition

New Forecasts of $3,000 to $5,000 Gold by 2022-2023 from Major Wall Street Firms

Major mainstream investment advisory services are now predicting gold prices more than doubling in the next 2-3 years.

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September 2020 - Week 2 Edition

Gold and Silver Rising

Gold rose $35, from $1,908 to $1,943, in four hours of trading Tuesday (10 am to 2 pm EST) and silver rose from $25.80 to $27.00, while stocks lost ground.

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September 2020 - Week 1 Edition

The U.S. Mint’s Gold Eagle Sales Rose 383% in 2020 vs. 2019 (and +1,459% in Summer Months)

During the first eight months of 2020, 589,500 Troy ounces of Gold American Eagles were sold by the U.S. Mint vs. only 122,000 ounces for the same eight months in 2019, a 383% increase

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August 2020 - Week 4 Edition

Flash Alert! Two Hurricanes are Headed for Beaumont – But We Are Prepared!

As of Monday Morning, when we planned to send out this Metals Report, two hurricanes were headed for the Texas Gulf Coast near our border with Louisiana. 

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August 2020 - Week 3 Edition

Gold Surges Past $2,000

Gold reached $2,012 on Tuesday morning, August 18. In last week’s Metals Market report, we predicted a correction after nine straight weekly gains, and we saw a huge $150+ drop, with gold briefly dropping below $1,900 on Wednesday as Treasury yields rose, based in part on a promising COVID-19 vaccine coming out of Russia.

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August 2020 - Week 2 Edition

Major Mutual Fund CEO Predicts $4,000 Gold

On Monday, August 10, Frank Holmes, CEO of U.S. Global Investors, told investors watching CNBC, the most popular financial TV network, “It’s quite easy to see gold going to $4,000.” He pointed to the trillions of dollars in stimulus packages passed by Congress during the coronavirus pandemic.

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August 2020 - Week 1 Edition

Goldman Sachs Raises Their 12-Month Forecast to $2,300 Gold and $30 Silver

Goldman Sachs recently upgraded their 12-month forecast for gold by 15%, from $2,000 to $2,300, and they pushed their silver forecast up 36%, from an already-outdated $22 to $30 per ounce.

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July 2020 - Week 5 Edition

One Reason Gold is Soaring: The Fed is Recklessly Fueling Future Inflation

Gold has shot up to a record high. Silver has also gone parabolic in price, rising to $24.85 (a 7-year high), doubling since March 18 (at $12.42) and thereby falling under an 80-to-1 gold/silver ratio, which we had predicted a few months ago.

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July 2020 - Week 4 Edition

Our $20 Silver Prediction Comes True – with Five Months to Spare

Silver surged past $21 an ounce this week and we made “the case for $20 silver in 2020” over a year ago in “July 2019, Week 3,” when silver was $15.31, so we can now crow a bit. 

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July 2020 - Week 3 Edition

Gold Near All-Time High

Gold is trading above $1,800 for the first time since September 2011, the month it set its all-time high. Friday’s Wall Street Journal proclaimed: “Gold Prices Head for Record Levels.”

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July 2020 - Week 2 Edition

Gold Topped All Other Investments in the First Half of 2020

On Tuesday, June 30, Gold for August delivery – the most actively-traded gold futures contract – closed at $1,800.50, the first-time gold traded above $1,800 since September of 2011.

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July 2020 - Week 1 Edition

$2,000 Gold Possible

Gold closed the first half of 2020 up 17.9% vs. a 9.6% decline for the Dow and -4.0% for the S&P 500, giving gold about a 22% to 27% advantage over blue-chip U.S. stocks so far this year.

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June 2020 - Week 4 Edition

More Big Banks Get on the Gold Bandwagon

With gold rising last week by $50, more big banks and investment advisors are getting on the gold bandwagon.

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June 2020 - Week 3 Edition

Gold in Comex Coffers Nearly Quadrupled in the Last Three Months

According to an article in last Thursday’s Wall Street Journal (“Scramble for Gold Redraws Market’s Map,” June 11), gold imports to New York from Switzerland and elsewhere have been massive over the last three months.

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June 2020 - Week 2 Edition

America’s Gold Expert® Says Invest 25% of Your IRA or 401(k) in Gold and Silver – Here’s How

Now that many leading mainstream banks have raised their gold price target and have recommended a significant portion of one’s portfolio to be in gold, it’s time to make sure your regular portfolio and your retirement portfolio are properly balanced in precious metals.

Gold still leads all other major investment asset categories through the end of May.

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June 2020 - Week 1 Edition

Gold Leads All Investments Through the End of May

Gold still leads all other major investment asset categories through the end of May.

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May 2020 - Week 4 Edition

Silver Outpaces Gold During May on Hopes for Economic Recovery

Last Tuesday, the Wall Street Journal reported, the nearest-month silver futures price reached $17.892 per Troy ounce, rising 14% in the past four sessions and +52% from its March low

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May 2020 - Week 3 Edition

Major Banks and More Hedge Fund Managers are Betting on Gold’s Rise

Every quarter, hedge fund managers are required to file their holdings – including gold holdings – with the Securities & Exchange Commission (SEC) at the midway point of the next quarter. The latest filing was due last Friday, May 15. According to Bloomberg reports on Monday, May 18, there is indication that hedge fund luminaries including Paul Singer, David Einhorn and Crispin Odey are among those bullish on gold, according to recent letters to investors.

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May 2020 - Week 2 Edition

Another Major Bank (Wells Fargo) Issued a Strong Gold Report Last Week

Last Monday, May 4, Wells Fargo Bank issued a report on Real Assets, in which John LaForge, Wells Fargo’s Head of Real Asset Strategy opened with this headline: “Gold may test its all-time highs.”

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May 2020 - Week 1 Edition

Track Record for the First Four Months of 2020

Gold is still the only major investment with a positive track record for the first four months of 2020. Most other major investments have declined by 10% or more, with crude oil down by about 70%.

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April 2020 - Week 4 Edition

Bank of America Sees $3,000 Gold – a Huge (50%) Increase from their Previous Forecast

Last year, a unit of Bank of America (BankAmerica Securities) recommended that investors hold a 25% position in gold. Last week Bank of America commodity analysts said that gold’s momentum could drive gold to a new all-time high this year and then push prices to $3,000 next year – a 50% increase from its previous forecast of a $2,000 high next year.

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April 2020 - Week 3 Edition

More Common Gold and Silver Coins are Becoming Harder to Find – Pushing Prices Up

Last year, many European suppliers began to melt down many common-date circulated gold coins and the more common-date MS-60 through MS-62 $20 Liberties and $20 Saints because the premium over melt for many lower-grade uncirculated common-date $20 gold coins had become so small.

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April 2020 - Week 2 Edition

Gold Continues Rising, Even as the U.S. Dollar Rises

Historically, gold tends to rise when the U.S. dollar falls, but the recent breakdown of the “inverse gold-dollar correlation” is likely due to the coordinated “race to the bottom” in global interest rates by the three major central banks of the world – the U.S. Federal Reserve, The European Central Bank and the Bank of Japan.

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April 2020 - Week 1 Edition

U.S. Mint Sales of Gold and Silver Eagles Soar in March

With the coronavirus attack escalating during March, U.S. Gold and Silver Eagle sales soared at the U.S. Mint. Total American Gold Eagles sales (by ounce) multiplied over 21-fold from February to March, up from 7,000 ounces in February to 151,500 ounces in March.

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March 2020 - Week 5 Edition

Silver Demand is Pushing Premiums Much Higher, Delaying Deliveries

Last week, silver prices rose 20% and the premiums on silver products are pushing costs much higher.

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March 2020 - Week 4 Edition

Low Population Rare Coins are Coming on the Market Now - We Have Precious Few: Grab Them While You Can

Despite the volatility in many markets, a few remarkable rare coin collections are coming on the market now, with superb selections I haven’t seen in years.

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March 2020 - Week 3 Edition

Gold is Near “Neutral” for 2020 While Stocks and Industrial Metals are Down Over 20%

Last week, we wrote about stocks falling fast while gold rose fast, but we need to revise that story this week.

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March 2020 - Week 2 Edition

We Warned You: “When Stocks Fall Fast, Gold Usually Rises Fast.”

Late last year, we wrote a segment here with the title “When Stocks Fall Fast, Gold Usually Rises Fast.”

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March 2020 - Week 1 Edition

Bank of America Securities Recommends Investors Hold 25% in Gold

Ten days before the stock market peaked on February 19, Bank of America (BofA) Securities came out with a new “Global Investment Strategy” report for the 2020s. On February 9, 2020, some of their analysts called for investors to adjust portfolios for the 2020s by going into a strategic posture of 25% (each) in stocks, bonds, cash and gold.

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February 2020 - Week 4 Edition

Gold is Staging a Phenomenal Underappreciated “Stealth” Bull Market Rare Coins Should Benefit

Gold reached an official all-time high in U.S. dollar terms in September 2011 at $1,895 per ounce and then declined 45% to a low of $1,050 in December 2015 – four years and three months later.  Now, we are nearly four years and three months past that low into a new bull market, and gold is just $235 from a new all-time high in U.S. dollar terms, up 58% in a little over four years.

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February 2020 - Week 3 Edition

You Can Have Confidence in our Coin Grading – From Common-Date Silver to Rare U.S. Gold

In the last few years, I have examined thousands of Kennedy halves sent in by other dealers for review.  It is amazing how many of these coins, rated “Brilliant Uncirculated” (BU) by other dealers, are in fact lightly circulated.

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February 2020 - Week 2 Edition

London Bullion Market Survey Sees Possible $2,080 (or $1,300!) Gold in 2020

Bullion Market Association (LBMA) released its gold price forecasts for 2020 and many analysts have predicted double-digit percentage increases.

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February 2020 - Week 1 Edition

The Dow Fell While Gold Rose

The Dow fell 603 points Friday while gold rose nearly $20, from $1,570 to a 7-year high of $1,590 before settling at $1,589, ending the month of January up nearly 5%, compared with a declining Dow and S&P 500.

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January 2020 - Week 4 Edition

Coronavirus Helped Send Gold Up

The Spread of Coronavirus out of China helped send gold up and stocks down last Friday and into this week.

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January 2020 - Week 3 Edition

Our 2019 Predictions Were “Right On,” So Here’s What We See For 2020

In our first Metals Report for 2019, we used research reports from several major banks around the world to construct a prediction for gold prices in 2019 ranging from highs of $1,350 to $1,565.

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January 2020 - Week 2 Edition

Gold Up Again

Gold held on to most of its Iran Hot War Gains even though there was no escalation of hostilities beyond Iran’s initial response last week. Gold was $1,527 on January 2, before the missile drone attack on Iranian General Qasam Soleimani, and it remains near $1,550 after peaking at $1,573. 

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January 2020 - Week 1 Edition

Gold Shoots Up

Gold shot up $30 in the first two trading days of the new year following an aerial drone attack on Iran’s leading military general as he left the Baghdad airport in Iraq. Gold shot up while stocks retreated on Friday.

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December 2019 - Year End Edition

Gold Closes 2019 on a Strong Up Move, Marking its Best Year Since 2010

Gold closed 2019 on a rise, above $1,515 per ounce, rising 18.6% for the year, locking in its best annual performance since 2010. The surge above $1,500 came on Christmas Eve as both stocks and gold staged a “Santa Claus Rally” which lasted through the end of the year.

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December 2019 - Week 4 Edition

Gold Up 15.6% in 2019

Gold rose $12 in the last week and is up $25 since Thanksgiving. Silver is back above $17 after being below $17 during most of December. If gold closes above $1,441, then 2019 will be the best year for gold since 2010.

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December 2019 - Week 3 Edition

When Stocks Fall Fast, Gold Usually Rises Just as Fast

I told you a few weeks ago that many millionaire investors are afraid of this stock market. I cited a survey of 3,400 millionaire investors (those with at least $1 million in investable assets) by UBS, a Swiss investment bank.

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December 2019 - Week 2 Edition

World Gold Council Survey Is Revealing

The World Gold Council recently surveyed 18,000 market participants from around the world on their beliefs about gold. They found that more than half of those surveyed in the U.S., India, Germany, and China trust gold more than currencies, and 67% of participants agreed that “gold is a good safeguard against inflation and currency fluctuations.”

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December 2019 - Week 1 Edition

Project 20/20 Update – Bids are Already Increasing

Our Project 20/20 is already well underway. We have been buying selected $10 and $25 gold eagles, $2.50, $3, $5 and $10 Indians and Type II and III Liberty Double Eagles and more. Partly as a result of this targeted program, we have already seen many of our targeted coins rise in price

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November 2019 - Week 4 Edition

Most Millionaire Investors Expect a Significant Stock Market Correction in 2020

Even though many investors are pouring money into stocks as stocks reached new all-time highs on Monday, November 25, most millionaire investors are suspicious of the stock market going into 2020.

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November 2019 - Week 3 Edition

Gold Will Rise Again

Gold rose $15 Monday morning from 8 to 11 am Eastern time, and silver rose back above $17.00 on renewed pessimism over the Chinese trade deal. The rally is based on news that President Trump may not roll back tariffs on China and the mood in Beijing has also turned pessimistic about any possible trade resolution any time soon.

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November 2019 - Week 2 Edition

Gold Outperforms All Other Major Commodity Groups

Despite the latest dip, gold has still outperformed stocks by a large margin over the last 15 to 20 years, and it has outperformed all other major commodity groups (including energy and industrial metals) over the last 5, 10, 15 and 20 years.

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November 2019 - Week 1 Edition

Gold and Rare Coins Typically Rise When Stocks Fall

First, on a larger historical canvas, we have seen gold’s biggest surges happen when stocks were suffering, such as the 1973-74 and 1979-80 bear markets for stocks (and bull markets for gold and rare coins), as well as the massive gold and rare coin bull market following the 1987 stock market crash.

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