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Updated: Aug 31, 2023

Hi, This is the first of potentially occasional market updates. If you would like to opt out of these market updates reply with "opt out" in the subject line or body of the email.

I have had many customers be repeat buyers recently as the price of the metals has declined.

Many of you know my mantra is nothing goes up in a straight line and nothing goes down in a straight line. My belief is that this is one of those buy on the dip opportunities.

Weighing on gold and silver are higher interest rates which support the US dollar and increase the carrying cost of holding metals.

This morning, August 29, 2023, interest rates are lower and gold and silver prices are both rallying higher confirming my analysis as described below.

Here are the highlights in my opinion for buying physical precious metals now:

The 200-day moving average is a key metric for buy and sell decisions for the large institutional players. Gold touched and held above the 200-day moving average on August 17th and 18th and has moved higher. Silver went back above its 200-day moving average on August 22nd.

The gold to silver ratio is at 80 and looks to be moving higher. Above 90 is when silver usually makes a significant up move. Silver is holding several dollars above its cost of production.

I did an analysis going back over 100 years and found that the housing market has a 17-year cycle. The most recent cycles which corresponded with recessions were in 1974-1975, 1991-1992, 2008-2009 and .......maybe within a year. Point being, we may be near the top of another housing cycle. The Los Angeles area Housing Affordability Index is at 15. The last time it was that low was in 2007. Gold and silver then doubled between 2008 and 2011. Historically, gold and silver move higher during or after a decline in housing prices.

It is better to be early than late.

I am here to answer your questions and assist with your purchase orders either for cash (wired funds) or with a rollover from an eligible retirement account and as always specializing in bullion. Ira

Check Two mikes

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