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Mike Fuljenz Weekly Report

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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October 2019 - Week 5 Edition

Project 20/20 is Gaining Steam

In May, I told you a little bit about Project 20/20, which will be our program for enlightened coin accumulation – using a “rifle shot” approach rather than a “shotgun” blast to find undervalued “sleeper” coins.

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October 2019 - Week 4 Edition

The 2020 American Eagle May Change Designs, Bringing a 35-Year Series to an End

Treasury Secretary Steven Mnuchin has approved the Mint’s plan to change the design of the Silver and Gold American Eagle coin series, which debuted in 1986.

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October 2019 - Week 3 Edition

Unprecedented Gold Buying by China

In their October newsletter, the Aden sisters say gold “truly is building up for a huge market,” citing “unprecedented” buying in China, where the People’s Bank of China just added to their reserves for the 10th consecutive month.

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October 2019 - Week 2 Edition

Silver Coin Sales are Strong and Silver Price Predictions for 2020 are Rising

The rise in the price of silver this summer has caused a rise in demand for silver bullion coins at the U.S. Mint. Through August 31, 2019, the U.S. Mint sold 12,269,000 ounces of Silver American Eagle coins vs. only 9,237,500 ounces in the same eight months in 2018, an increase of 33% in demand in 2019.

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October 2019 - Week 1 Edition

The Trump Impeachment Process Begins:
How the Impeachment Process Could Impact Gold & Why it Pays to Invest in Rare Coins Now

With the Democrat led House of Representatives finally taking the first step to file articles of impeachment against President Trump, we need to look at the last two times a Democratic Congress filed articles of impeachment against a Republican President.

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September 2019 - Week 4 Edition

Global Tensions Escalate, Sending Gold and Silver Sharply Higher

Gold recovered strongly from $1,500 on Friday to $1,525 on Monday, September 23. Silver recovered even more strongly, rising by over 4%, from $17.90 on Friday to over $18.70 on Monday. The temporary “breather” we predicted in the bull market of the precious metals appears to be over, with both gold and silver on the rise again.

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September 2019 - Week 3 Edition

Russia and China Pile into Gold
- Barron’s, September 16

Through June 30, central banks purchased a record 374 metric tons of gold in 2019, the highest first half of gold purchases of any year on record.

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September 2019 - Week 2 Edition

Barron’s Online Quotes Me Concerning Gold IRAs

I was quoted in this weekend’s Barron’s (dated September 8, 2019) regarding setting up gold IRAs and they acknowledged that physical precious metals are a legitimate and suitable long-term investment. It’s very important that investors follow the IRS rules and not fall for ads talking about “home storage” IRA gold or any other short-cuts.

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September 2019 - Week 1 Edition

New Silver Dollars May Come in 2021 -
The Centennial Year of the Morgan/Peace Dollar Transition

In 1921, the final peace treaty for World War I was signed between Germany and the United States. In honor of that event, the final Morgan silver dollar was minted, and the first Peace dollar was minted. The year 1921 is the only year in which both a Morgan and a Peace dollar were minted. And now Congress may be considering a bill to mint limited-edition Morgan and Peace dollars possibly with a Carson City (Nevada) mint mark on the centennial of that event in 2021.

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August 2019 - Week 4 Edition

Precious Metals Having Their Best Year Since 2010

Near the end of August, gold is up 20% for 2019 so far – its best year (by far) since 2010 – and we are about to enter gold’s best time of the year – the holiday season in various cultures, when gold jewelry gift giving is popular. 

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August 2019 - Week 3 Edition

September is the Beginning of Gold’s Peak Demand Season

So far, gold has risen due to global currency devaluations in a “race to the bottom” among paper money currencies, but that is separate from gold’s normal demand cycle, tied mostly to jewelry fabrication for holiday gift-giving in a variety of global cultures. September to February is the greatest time of the year for gold demand, accounting for virtually all of the price appreciation in the years 1975 through 2018.

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August 2019 - Week 2 Edition

Gold Reached Another New 6-Year High

Gold reached another new 6-year high of $1,520 on Monday, August 12, 2019. Why?

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August 2019 - Week 1 Edition

American Eagle Silver Bullion Coin Sales are Up 46% in 2019

Through July 31, the U.S. Mint has reported selling 11,262,000 one-ounce American Eagle Silver Bullion coins vs. just 7,705,500 ounces through July 31 last year, a gain of 46.2%.

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July 2019 - Week 5 Edition

Rare Gold Coins Exceed Gold’s Rise by Over $70 – And Some Coins are Now Harder to Find

On May 8, gold traded at $1,290.  Today, gold trades at around $1,423, up $133.  In that same 12-week period, MS-64 common-date $20 Liberty double-eagle gold coins – graded by PCGS or NGC – have risen $205 in price, or about 50% more than gold bullion.

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July 2019 - Week 4 Edition

Gold and Silver Soar to Long-Term Highs

Last week, gold and silver soared on Thursday and Friday, primarily over Middle East tensions and a “dovish” Federal Reserve governor’s comments.

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July 2019 - Week 3 Edition

Silver Is Rising

Gold remained above $1,400 most of last week after dipping below $1,400 on Tuesday, and silver has remained above $15 since June 20. Stocks also reached record highs last Friday. On Monday morning, August gold futures rose almost $4 to $1,416 per ounce and September silver rose 13-cents to $15.37 as interest rates continue to decline around the world.

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July 2019 - Week 2 Edition

2020 Silver Secrets Report - The Case for $18 Silver by Year-End 2019 and $20 in 2020

A number of mainstream investment banks and commodity market analysts see fundamental reasons why silver ought to be higher – perhaps $17 to $18 later this year – even though silver remains mired around $15 now. Three major banks have issued price projections of $18 for 2019.

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July 2019 - Week 1 Edition

Gold futures peaked at $1,442.90 last Tuesday, June 25, its highest level since May 2013, but it had gone up too far, too fast, to sustain those gains, so it retreated to $1,410 by week’s end and dipped below $1,400 on Monday.

 

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June 2019 - Week 4 Edition

Global Tensions Push Gold Up to $1,400 for the First Time Since 2013

Gold reached $1,420 Monday for the first time since August 2013, mostly over fear of war with Iran. Also, European Central Bank (ECB) President Mario Draghi signaled an interest rate cut for the euro, which is already characterized by negative rates (-0.3% for 10-year German bonds) plus more money printing (“quantitative easing”).

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June 2019 - Week 3 Edition

Gold Rose to a 14-Month High

Gold rose to a 14-month high of $1,344 on Friday (Flag Day).  After correcting to $1,325 mid-week, gold shot up $20 on Thursday and Friday over concerns about rising Middle East tensions and the sagging health of China’s economy.  Gold has now risen in 12 of its last 13 trading days, reaching its highest price since April 2018.

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June 2019 - Week 2 Edition

The Prospects for Lower Global Interest Rates is Lifting Gold Prices

Interest rates have been near zero or below zero in much of Europe and Japan for five years and now rates are careening down in America, too, with the widely watched 10-year Treasury bond rate approaching 2%.

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