Gold starts year strong
A strong start to the year for gold is forecast by Barry Stuppler, a Woodland Hills, Calif., coin dealer.
“Gold is starting 2019 with increasing price support and growing demand. I believe gold will reach its next major resistance level of $1,300 very soon, and after a short period of time should break above,” Stuppler said.
He should know. Stuppler keeps a keen eye on the precious metals as president of the Accredited Precious Metals Dealers (https://apmddealers.org), a division of the Professional Numismatists Guild (https://pngdealers.org).
“The gold fundamentals have never looked better. Interest rates, such the U.S. 10-Year Treasury Note that is under 2.7 percent, and the U.S. dollar are dropping. Demand is increasing from hedge funds, ETFs and central banks. While the global equity markets remain a question mark, we are seeing increasing gold demand from stock investors moving to a proven safe haven from the volatility they are seeing,” Stuppler said.
“As global equity markets continue to move lower, gold buying in Asia, the Middle East, and Europe is increasing as the price moves above $1,285 per ounce. January has an excellent history of showing higher gold prices, and last year gold hit its highest price in January,” he pointed out.
All nationwide members of the Temecula, Calif.-based Professional Numismatists Guild Accredited Precious Metals Dealer program undergo a background check, must adhere to a strict code of ethics in the buying and selling of numismatic items, and guarantee the authenticity of the numismatic merchandise they sell.
A directory of PNG-APMD members can be found at www.apmddealers.org/apmd-dealers.
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