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

Investors Set Aside Coronavirus Worries, Driving a 'Melt-Up' in Markets

Wednesday, July 29, 2020

Gold last traded at $1,952 an ounce. Silver at $24.52 an ounce.

NEWS SUMMARY: Precious metal prices traded mixed Tuesday, with gold rising above $1,950/oz. and silver trading near $24.50/oz. on safe-haven buying despite a firmer dollar. U.S. stocks fell as lawmakers debated the next coronavirus relief while traders pored over the latest corporate earnings.

WALL STREET JOURNAL---"Stocks, bonds and commodities are heading for their strongest simultaneous four-month rise on record, highlighting the breadth of the market recovery during the 2020 economic slowdown....Investors and analysts attribute the broad rise in financial markets to faith in government and central-bank stimulus programs, hopes for vaccine development and wagers that the coronavirus crisis will spell opportunity for a number of large but nimble, well-placed companies at the expense of others whose struggles are deepening. The broad advance is prompting many investors who had been skeptical to pare back their cautious wagers and join the rally, giving it further fuel....Some analysts see recent signs of a 'melt-up' in some market niches, particularly around technology, in which investors are buying assets in large part simply because they are rising. Traders are riding the momentum in everything from large technology stocks such as Apple Inc. to the precious metal silver. Such powerful rises are a concern for analysts who worry that the investments will suddenly fall in tandem if markets or the global economy face a fresh shock....'People are hopping on the train, and they're also looking to get anything else in their portfolio for when the day of reckoning comes,' said Christopher Stanton, chief investment officer of Sunrise Capital Partners. Mr. Stanton is betting against the dollar, expecting Federal Reserve stimulus programs to continue weakening the currency, boosting investments from stocks to commodities that are priced in dollars. He warned that uncertainty about government or central-bank policies could hit markets, pointing to November's presidential election as one possible spark for a reversal. Many investors fear presumptive Democratic nominee Joe Biden will raise corporate taxes if elected."

Leave your comment