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Park Avenue Numismatics
5084 Biscayne Blvd, Suite 105
Miami, FL 33137
Toll Free: 888-419-7136

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Over 30 Years Experience
Park Avenue has over 30 years experience buying and selling Rare Coin and Precious Metals. We have the knowledge and ability to provide our customers with the best products and services.

Customer Reviews

$3,000 Gold Could Be Just the Beginning

Thursday, November 19, 2020

Gold last traded at $1,863 an ounce. Silver at $24.07 an ounce.

NEWS SUMMARY: Precious metal prices eased back Thursday on profit-taking and a firmer dollar. U.S. stocks fell amid disappointing U.S. unemployment data and rising coronavirus cases.

Sjuggerud/Daily Wealth---"The 1970s was the decade our country's monetary system changed forever. Until the 1970s, gold was what backed the value of our currency. If you wanted to convert your dollars to physical metal, you could do it. President Richard Nixon broke that structure in 1971. He removed gold's convertibility. And overnight, our gold-backed currency became backed only by full faith in the U.S. government. That change allowed the price of gold to fluctuate on its own for the first time. And it's why the 1970s gold boom was possible in the first place. There was another key driver though. Today, we'll look at what it was... and why it could push gold to $3,000 an ounce... or even higher....Clearly, the 1970s are the banner example of rising inflation triggering a gold boom. But that's far from the only time we've seen the trend play out. Importantly, the same kinds of things that set off inflation in these past scenarios are happening today...The Fed has once again lowered interest rates to zero in order to boost the economy. Even more, Fed Chairman Jerome Powell announced that he wants to keep interest rates low for at least three years...Today, inflation is at 1.3%. And if the Fed has any say in it, we could see that number rise to 4% - or even 6% - in the coming years. That will be enough to send gold on a multiyear bull run. And it means the metal could double - or more - from here. That means $3,000 could be just the beginning for gold. It won't happen overnight. But the setup is in place. And that means you need to own the metal now."

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