Park Avenue Numismatics
2742 Biscayne Blvd.
Miami, FL 33137
Toll Free: 888-419-7136
Secure Private Ordering
We use the latest online security processing, so your order is safe & private. We DO NOT disclose any customer information to ANY third party company. Our customer privacy is our priority.
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.
NEWS SUMMARY: Precious metal prices eased Monday on mild profit-taking and a firmer dollar. U.S. stocks rose as investor confidence was lifted by U.S. measures to help contain the coronavirus outbreak.
WING CAPTIAL/KITCO--"Analysts at WingCapital Investments said in a recent commentary on Seeking Alpha that prices have remained in their bullish uptrend with gold's critical support at its 50-week moving average. While many analysts are bullish on gold after the Federal Reserve announced its open-ended quantitative easing program at the start of the week, WingCapital said that it is watching rising U.S. debt compared to GDP. They said this will be a bigger factor on gold compared to the Federal Reserve's unprecedented monetary policy. 'Historically we notice that the level of deficit relative to GDP exhibits even higher correlation than the size of Fed's balance sheet,' they said. 'Specifically, we observe that gold's previous secular bull run ended when deficit / GDP started declining and did not bottom until the ratio's trough in 2016.' In this environment, the analysts said that gold prices could rise to $3,000 over the next three years....'It is without coincidence that gold prices became reinvigorated just as government spending started rising again,' the analysts said. As to how high deficit spending as a percentage of GDP will rise, the analysts said that it could be on par with levels not seen since the Second World War. In the 1940's during the war, debt rose to nearly 30% of GDP."