Contact Information

Park Avenue Numismatics
5084 Biscayne Blvd, Suite 105
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.

Customer Reviews

Gold jumps over 1% as weaker dollar, U.S. yields enhance allure

Tuesday, May 4, 2021

Gold last traded at $1,779 an ounce. Silver at $26.49 an ounce.

NEWS SUMMARY: Precious metal prices eased Tuesday on profit-taking and a firmer dollar. U.S. stocks fell sharply following Treasury Secretary Yellen's comments that interest rates may have to rise to keep economy from overheating.

CNBC--"Gold prices jumped more than 1% on Monday, pulling along other precious metals with it, supported by a retreat in the dollar and U.S. Treasury yields....

'A combination of bond yields remaining tame, the dollar under pressure, the amount of fiscal and monetary stimulus that we have in this market ... all of those factors continue to drive gold and silver prices higher,' said David Meger, director of metals trading at High Ridge Futures.

'We are in this more inflationary environment and the fact that we've seen as much stimulus ... it's understandable to expect commodity prices in that environment to do quite well.' The dollar index slipped 0.4%, making gold more affordable for holders of other currencies, while benchmark U.S.

10-year Treasury yields also retreated, reducing the opportunity cost of holding non-interest bearing gold. Gold also found support from data showing U.S. manufacturing activity grew at a slower pace in April....

Strong economic data can also push gold higher as it means inflation will go higher, said Michael Matousek, head trader at U.S. Global Investors.

'We need to see gold get above the $1,800 level and sustain it for a little bit, and then it could be off to the races for $2,000.'"

Leave your comment