Contact Information

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.

Customer Reviews

Gold just above one-week low as dollar, stocks gain

Tuesday, February 5, 2019

U.S. gold futures were down 0.1 percent at $1,317.70 an ounce.

World stocks extended their robust start to the year, making non-yielding bullion a less attractive investment, while the greenback was on course for a fourth straight day of gains. "One of the things potentially capping gold's rally here is the fact that the U.S. Federal Reserve's dovishness points to stronger demand for riskier assets," said Marcus Garvey, analyst at ICBC Standard Bank.

"The big question now is how much the Fed's position has changed and can it get more dovish... But given the fact that the U.S. domestic data is reasonably stable, there is still scope for the Fed to hike rates once this year."

Gold rose to its highest since late April at $1,326.30 last week, after the Fed kept interest rates steady and said it would be patient on further hikes amid a cloudy outlook for the U.S. economy due to global growth concerns and the U.S.-China trade dispute.

However, solid U.S. jobs data on Friday allayed concerns of an immediate slowdown in the U.S. economy. The central bank may need to raise interest rates a bit further if the economy does well, Cleveland Fed President Loretta Mester said on Monday. Gold tends to fall out of favour when interest rates rise

Attention has now turned to U.S. President Donald Trump's State of the Union address which could hint at progress in U.S.-China trade talks.

"I think gold should see itself through $1,360, a strong resistance, to get absolute confirmation that it is in a bull run," said Ross Norman, chief executive at Sharps Pixley.

Meanwhile, holdings of SPDR Gold Trust , the world's largest gold-backed exchange-traded fund, dropped 0.5 percent to 813.29 tonnes on Monday. Holdings have fallen for a second straight session. "On the downside, support around $1,300 should be strong in the short-term (for gold) and we favour buying dips towards that level," MKS PAMP Group said in a note.

Among other precious metals, palladium was steady at $1,364.14 per ounce.

Silver was up 0.1 percent at $15.87, while platinum slipped 0.1 percent to $816.63.


Leave your comment