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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

Volatility in oil and gold may offer more opportunity than risk

Monday, September 14, 2020

Gold last traded at $1,964 an ounce. Silver at $27.46 an ounce.

NEWS SUMMARY: Precious metal prices rose sharply Monday on bargain-hunting and a weaker dollar. U.S. stocks rose amid corporate dealmaking as the market tried to recover from back-to-back weekly declines.

 MARKETWTACH---"Many of the biggest movers in commodities this year, including oil and precious metals, will continue to take the spotlight as the year draws on. Traders are trying to assess the effects of the pandemic on demand and are looking for signs of a global economic recovery....'Many commodities are trading well below their long-term incentive prices,' says Alissa Corcoran, director of research at Kopernik Global Investors....Oil prices have been 'driven down by reduced demand,' said Corcoran. Oil below its long-term incentive price, which she estimates at $75 a barrel, is unlikely to stay at that level. On Sept. 8, U.S. and global benchmark oil futures settled below $40 a barrel, the lowest since June....Commodity investors, however, will continue to eye moves in precious metals, which got a boost as the pandemic raised demand for gold and silver as a haven. Signs of some recovery in global economies led silver, which is also an industrial metal, to far outpace gold's rise. As of Sept. 8, silver futures traded around 50% higher year to date, while gold rose 27%....'The factors that have underpinned gold's move higher are still with us,' said Ross Norman, chief executive officer of Metals Daily....Metals Daily expects gold to potentially climb as high as $2,200 before year-end, 'which would give gold a 45% gain on the year,' while silver may challenge the $35 level at year-end, which would represent a 'massive' 95% gain on the year, says Norman. Overall, commodities can be 'very volatile' in the short term, which 'we view not as risk but as opportunity,' says Corcoran."

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