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Park Avenue Numismatics
2742 Biscayne Blvd.
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

Silver technically joins gold in a new bull market

Wednesday, September 4, 2019

 Kitco--"With December Gold continuing to consolidate recent gains above $1500, investors have begun to move quickly into the cheaper safe-haven option of silver which has surged 12% this month and touched an over two-year high of $18.76 on Thursday. Unless there is a harsh selloff later today below $17.50 in 'poor man's gold', the metal that most everyone has loved to hate since it broke down sharply in 2013 will technically join gold in a new bull market. If history is any guide, leadership and its outperformance in relation to the gold price should continue in silver for the precious metals rally to keep running. Historically, the gold trend in either direction has driven the silver market. Investors typically ignore this tiny sector until gold has rallied long and high enough to convince them its upside momentum is sustainable. In fact, when this current secular bull market in gold began in early 2001, silver did not begin its major up-leg until late 2003....Since the price of silver peaked at nearly $50 per ounce in early 2011, this precious metal with a strong industrial component has continued to lag the gold price until the closely followed gold/silver ratio peaked above 96 on a weekly basis early last month. Once the gold price broke out of a 6-year basing pattern in late June, silver began to wake up from its 8-year slumber. The ratio of gold to silver prices has fallen 13 percent since early July and even though gold has risen sharply during that period, the grey metal has risen faster....The buying opportunity may not last long, as I also expect to see the silver mean reversion to gold continue picking up speed once a technical correction in the precious metal complex has completed. The metal could move quickly towards its 2016 high above $21 heading into the next FOMC meeting on September 17-18, once a healthy correction takes place."

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