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.
Gold last traded at $1,902 an ounce. Silver at $24.26 an ounce.
NEWS SUMMARY: Precious metal prices traded mixed Friday on a weaker dollar despite upbeat economic data. U.S. stocks tried to snap a three-day losing streak after better-than-expected September retail sales.
KITCO---"As gold prices hover around $1,900, one market strategist continues to see upside potential as the market remains undervalued compared to other assets. In a commentary posted Wednesday, Jesse Felder, publisher of the Felder Report investment newsletter, reiterated his bullish stance on the precious metal. He said that although gold has nearly doubled in price in the last five years, it remains cheap compared to equities. 'The gold price relative to the Dow Jones Industrial Average would seem to suggest it is not expensive at all. In fact, to match the valuation peak it reached about a decade ago, gold would need to double again from its current price,' he said in his latest commentary. 'So gold's upside potential over the long run looks far from exhausted even after its terrific run over the past few years,' he added. Although gold prices have dropped from their all-time highs reached in August, the market is still seeing gains of around 25% since the start of the year. Many analysts expect gold prices to end the year back above $2,000 an ounce as central banks look to maintain the extraordinarily loose monetary policies for the foreseeable future. The Federal Reserve is expected to keep interest rates at the zero-bound level through 2023....Along with low interest rates, commodity analysts and economists expect to see inflation pressures rise, which could push real interest rates into negative territory, creating the perfect environment for gold."