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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

Gold's bull market will continue into 2021 for these 3 reasons

Wednesday, November 18, 2020

Gold last traded at $1,874 an ounce. Silver at $24.45 an ounce.

NEWS SUMMARY: Precious metal prices eased slightly Wednesday despite a weaker dollar. U.S. stocks traded mixed as investors digested more positive news on the coronavirus vaccine front.

 Goldman/Business Insider---"The more than 20% rally in gold year-to-date is set to continue into 2021 as the structural bull market continues on for the precious metal. That's according to Goldman Sachs, who said in a note on Friday that recent weakness in gold prices could be explained by the rotation towards value from defensive assets like gold and long term growth stocks. In the short-term, gold prices could continue to consolidate sideways...but in the longer-term, gold 'should benefit from continued strong investment demand.' 1) 'Inflation expectations move higher.' - With policies surrounding the COVID-19 pandemic focused on fiscal spending, combined with household balance sheets at better levels than they were coming out of the 2008 recession, 'the Fed appears more willing to tolerate a temporary inflation overshoot,' Goldman said....2. 'The US dollar weakens.' - Goldman expects the falling US dollar to continue trending lower into 2021, which should help support gold prices....3. 'Emerging Market retail demand continues to recover.' - 'We see a strong rebound in EM gold demand which should support higher gold prices through the wealth effect,' Goldman said, adding that gold demand from China and India is already displaying signs of normalization...The firm has a $2,300/toz gold price target, which represent potential upside of 22% from Friday afternoon levels."

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