Contact Information

Park Avenue Numismatics
2742 Biscayne Blvd.
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

Why Gold Is More Than a Safe Haven Asset

Monday, November 25, 2019

The Street--- "Gold, known as the safe haven asset, historically becomes more valuable during times of geopolitical turmoil. Approximately 20% of the above-ground stock of gold reserves is held by central banks and international monetary organizations. In addition, gold and the U.S. dollar typically have an inverse relationship since international gold is dollar-denominated. Weakness in the dollar pushes up gold prices and vice versa, though that has not been the case in 2019 as we have seen the prices of gold and the U.S. dollar increase in tandem....China was the world's largest gold producer in 2018 and accounted for approximately 12% of total global production, followed by Australia, Russia, the United States and Canada....Gold mining production has not changed significantly since 2016. One reason is that the 'easy gold' has already been mined and miners now must dig deeper to access quality gold reserves. This has led to additional problems as miners are exposed to new hazards, and the environmental impact is heightened. In short, it costs more to get less gold. These factors add to the costs of gold mine production, sometimes resulting in higher gold prices....Gold is scarce and a majority of exploration activity by gold mining companies does not find commercially viable quantities of gold. Once a suitable ore body is identified it generally takes at least ten years to develop a large-scale gold mine."

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