gold-coins-chart

Week in Review 8/21 – 8/25

Scott Hage MBE Report

Silver: It appears silver may have finally gained some traction after falling more than 5% from its high of $20.63 on Aug 2nd. For the year silver is up $5 per ounce or better than 25%. With that silver is very much at the beginning of a bull market and this is a definite buying cycle we are in. For the week beginning for us Monday 8/22 we saw silver at $18.92 and finished Friday 8/26 at $18.65 per ounce a 27 – cent drop or nearly 1.5%. For the year we see silver $4.83 per ounce higher.

Gold: As much as can be said about an interest rate hike, a stronger USD and a better economy, gold has vigilantly been present. Wall Street can discount the thought all they like but in the end there is only so much gold and Wall Street? They will never run out of ink and paper! This year 2016 we saw gold get out of the gates at just $1,074 per ounce, and have seen it since that cold January day rise as high as $1,367 per ounce, an increase of $293 per ounce or a better than 20% increase!

Platinum: We have seen platinum fall $104 per ounce since Aug 10 when it closed at $1,176 per ounce. Friday Aug 26 platinum closed at $1,072 per oz. On the physical side we have seen steady demand for platinum bars and platinum coins. When you remember how truly precious and rare platinum truly is, and today’s low above ground supply, we think platinum is a steal! (And if we didn’t were in the wrong business! LOL)

We receive great letters from our customers and here is one I thought you might enjoy,

08AUG26

Scott,

As of today the beginning stage of a trend in the precious metals markets has taken shape. Gold has softened about $30 and Silver about $1.25 from previous trading ranges. I’m also seeing many other examples of markets searching for a change of direction. We are still early in the new trend which means there is plenty of room for these markets to run.

The most important factor in our area of interest is that Silver is continuing to lead Gold. Silver has fallen through two price supports and today tested and failed to break above what is now resistance.

Copper is still searching but Platinum is once again weakening ahead of Gold.

You can thank me when I am once again a buyer, Scott.

Sincerely,

Gene

Response:

To a customer who I greatly respect, and is straight to the point! Thank you for submitting your thought provoking analysis! It has been a pleasure to serve your precious metals needs Gene!

Sincerely,

Scott Hage
President & Founder
MBE Inc.

Disclaimer: Midwest Bullion Exchange, Inc. is a precious metals broker/dealer and is not a licensed investment adviser. Although we strongly advocate programs that allow you to hold precious metals in your retirement, we cannot predict the future performance of precious metals or programs that allow precious metals. Furthermore, we recommend that you consult with a professional tax adviser when making decisions that carry tax liabilities. Midwest Bullion Exchange, Inc. reserves the right to decline services to individuals after it has been determined the products and services offered by Midwest Bullion Exchange, Inc. are not suitable for the individual. The author has made every effort to ensure accuracy of information provided; however, neither Midwest Bullion Exchange, Inc., nor the author can guarantee complete accuracy. This article is for informational purposes only. Midwest Bullion Exchange, Inc. and the author of this article do not accept any fault for losses and/or damages arising from the use of this publication.