Author: Sirhc

Silver Price Analysis: XAG/USD bears can ignore latest bounce to 100-day SMA

Sirhc
  • Silver struggles to keep week-start gap-up but snaps three-day losing streak.
  • Bearish MACD, downbeat RSI joins sustained break of yearly support line, now resistance, to favor silver sellers.
  • Yearly low, 200-day SMA will be a tough nut to crack for bears.

Silver prices waver around $25.40, fading the initial run-up to $25.56, during Monday’s Asian session. In doing so, the white metal confronts 100-day SMA while also keeping the last week’s break of an ascending trend line from March 2020.

Given the bearish MACD and descending RSI line join the previous week’s downside break of the key support line and 100-day SMA, silver prices are likely to remain depressed.

However, fresh selling can wait until the bears conquer January 27 low near $24.70 as it triggered the commodity’s bounce during Friday.

Also acting as the strong downside barrier is a confluence of 200-day SMA and the yearly low near $24.20.

Meanwhile, a daily closing beyond the 100-day SMA level of $25.45 will need to cross the previous support line, at $25.80 now, to recall the silver buyers.

Following that, lows marked during late February around $26.20 should test the bulls targeting the monthly top beyond $27.00.

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1876-S Liberty Double Eagle NGC MS64

Sirhc

Rare, Last Year of Type

The 1876-S double eagle had a mintage exceeding 1.5 million coins, but this does not necessarily translate into high-grade availability. Mint State coins are only plentiful through the MS62 level, after which the certified population drops off sharply. In MS64, the ’76-S is a major condition rarity and anything finer is almost unobtainable. The NGC is only 11 with 5 higher. This particular example offers a pleasing overall appearance.

Offered at $32,625 delivered

We do business the old fashioned way, we speak with you. Give us a call for price indications and to lock trades.

(800) 257.3253
9:00 AM – 5:00 PM CST M-F
Private, Portable, Divisible Wealth Storage

Price is based on payment via ACH, Bank Wire Transfer or Personal Check.
Major Credit Cards Accepted, add 3.5%
Offer subject to availability.

Gold Price Outlook Remains Mired by Broader Recovery in US Yields

Sirhc

GOLD TALKING POINTS

The price of gold attempts to retrace the decline from the beginning of March as the US 10-Year Treasury yield pulls back from a fresh yearly high (1.62%), but key market themes may keep the precious mental under pressure as the Federal Reserve appears to be in no rush to alter the path for monetary policy.

FUNDAMENTAL FORECAST FOR GOLD: BEARISH

The price of gold bounces back from a fresh weekly low ($1688) as the initial reaction to the 379K rise in US Non-Farm Payrolls (NFP) dissipates, and the recent weakness in longer-dated Treasury yields may lead to a larger rebound in the precious metal even as the Federal Open Market Committee (FOMC) maintains a dovish forward guidance.

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Daily “Sell” Special

Sirhc

We are offering a group of up to 75 freshly graded PCGS MS63 1915-S $20 Saint Gaudens. The 1915-S has a mintage that it only 13.1% of the 1924 which is the most common dated St. Gaudens. The 1915-S has a PCGS population that is only 4.9% of the population for the most common 1924’s, (4648 vs. 93,352)!

1915-S      1924 (most common)
Mintage 567,500 Mintage 4,323,500
Population 4468Population 93,112

Offered at $2,375 delivered (5 coin minimum)

We do business the old fashioned way, we speak with you. Give us a call for price indications and to lock trades.

(800) 257.3253
9:00 AM – 5:00 PM CST M-F
Private, Portable, Divisible Wealth Storage

Price is based on payment via ACH, Bank Wire Transfer or Personal Check.
Major Credit Cards Accepted, add 3.5%
Offer subject to availability.

Silver Price Analysis: XAG/USD set to refresh yearly low, $25.00 tests the bears

Sirhc

Silver prices remain heavy near late January lows, currently down 0.23% around $25.30, during Friday’s Asian session. The white metal dropped the fresh bottom in multiple days after breaking an ascending trend line from November 30 the previous day.

The bearish bias also gains support from the metal’s failure to recover from recent lows while staying below 100-day SMA amid bearish MACD.

Hence, silver sellers are en route 200-day SMA level of $24.15. Though, 61.8% Fibonacci retracement of November 2020 to February 2021 upside, at $25.00, offers immediate support to the quote.

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1910-D Saint Gaudens Double Eagle NGC MS67

Sirhc

1 of Just 2 So-Graded

The Denver Mint coined a substantial number of double eagles in its fifth year of operation, 429,000 according to Mint records, and surviving specimens are plentiful in all grades through MS65 and somewhat available at the MS66 level. However, finer pieces are rare. There are no reports of hoards in the literature, although repatriated European and South American exports undoubtedly account for most Mint State pieces known today. The NGC population is just 2 with none higher. 

We do business the old fashioned way, we speak with you. Give us a call for price indications and to lock trades.

Offered at $59,100 delivered

(800) 257.3253
9:00 AM – 5:00 PM CST M-F
Private, Portable, Divisible Wealth Storage

Price is based on payment via ACH, Bank Wire Transfer or Personal Check.
Major Credit Cards Accepted, add 3.5%
Offer subject to availability.

Silver falls to fresh five-week low as precious metals stay pressured

Sirhc

Silver down over 1% to the lows of $25.63 on the day

he drag in gold is also inadvertently having a negative pull on the likes of silver and platinum lately and we are seeing more of that today as well with silver having fallen to its lowest levels since 28 January below $26.
The drop pushes silver towards a test of key trendline support @ $25.65 and also brings into focus the 100-day moving average (red line) @ $25.43.
Those will be key lines in the sand for silver buyers to hang on to in order to keep the upside momentum running, after having seen year-to-date gains erased this week after having jumped to $30 at the start of February.
The dollar’s resilience so far today is also part of the story but precious metals haven’t really been getting much love – especially gold – as of late.
Silver ETFs may not have declined as drastically as gold but they have eased off since peaking in early February amid the surge in demand and retail trading frenzy at the time.

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UPDATE 2-Platinum, palladium and rhodium in short supply –Johnson Matthey

Sirhc 
 LONDON, Feb 10 (Reuters) - Platinum, palladium and rhodium
used by the auto industry to filter emissions from engine
exhausts were all in short supply last year, data from
specialist materials firm Johnson Matthey showed on
Wednesday, as prices for the metals soared.
    Supply shortfalls have driven rapid price gains, with    
platinum trading at six-year highs and rhodium RHOD-LON
and palladium close to record levels. 
    A shortfall is expected for palladium and rhodium this year
as well, the third consecutive annual deficit for rhodium and
the tenth for palladium, Johnson Matthey researcher Rupen
Raithatha said. 
    Platinum may see a third consecutive annual deficit in 2021,
depending on how much metal is stockpiled by investors, he said.
    All three metals are used in catalytic converters to reduce
harmful emissions, and tightening environmental regulation is
forcing auto makers to put more into each vehicle. Platinum is
also in demand by other industies, for jewellery and as an
investment. 
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1870 Pattern Half Dollar PCGS PR65+ RB

Sirhc

Judd-993, Pollock-1123, High R.7. The obverse and reverse dies are both the designs for regular-issue half dollars of 1870. Struck in copper with a reeded edge. Although these could be considered die trials for a regular issue, there is little doubt that, given the plethora of different die designs and combinations, plain and reeded edges, strikes in copper, aluminum, and silver — a cornucopia of variations — that these patterns were offered in sets to collectors or their providers. This is the sole highest graded PCGS example.

Offered at $13,500 delivered

We do business the old fashioned way, we speak with you. Give us a call for price indications and to lock trades.

(800) 257.3253
9:00 AM – 5:00 PM CST M-F
Private, Portable, Divisible Wealth Storage

Price is based on payment via ACH, Bank Wire Transfer or Personal Check.
Major Credit Cards Accepted, add 3.5%
Offer subject to availability.