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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.

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Sell U.S. Dollar, Buy Silver

Thursday, October 15, 2020

Gold last traded at $1,905 an ounce. Silver at $24.20 an ounce.

NEWS SUMMARY: Precious metal prices consolidated Thursday as dimming pre-election stimulus hopes boosted the dollar. U.S. stocks fell for a third day following worse-than-expected jobless claims and stimulus deal uncertainty.

Goldman/Kitco---"Investors should look into selling the U.S. dollar and buying silver into the election, according to two new reports published by Goldman Sachs Group Inc. There is a growing risk that the U.S. dollar will plunge to its 2018 lows as Democratic candidate Joe Biden continues to extend his lead in the polls prior to the election on November 3. 'The risks are skewed toward dollar weakness, and we see relatively low odds of the most dollar-positive outcome - a win by Mr. Trump combined with a meaningful vaccine delay,' Goldman strategists said in a note on Friday. 'A blue wave U.S. election and favorable news on the vaccine timeline could return the trade-weighted dollar and DXY index to their 2018 lows'....In another report, Goldman analyst Mikhail Sprogis highlighted silver as a buy due to the precious metal being an 'obvious beneficiary' from a global move toward solar energy. 'Now, with silver at $24/oz. and a few potential upward solar surprises in the coming months, we reopen the trade,' Sprogis said....Sprogis reminded investors that solar investment represents about 18% of silver's industrial demand. The base case scenario is that global solar installations rise by 50% between 2019 and 2023, according to Goldman."

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