AGE's Gold Commentary

AGE Gold Commentary is our regular report analyzing trends in precious metals and rare coins. We monitor domestic and international markets and extrapolate from our 30 years in metals to place current events into a hard asset perspective. View archives.

5/20/2024: Silver breaks out!

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Greetings!

Following a mild correction in early May, the historic bull market in gold and silver is resuming its charge. Gold futures surged to a new all-time high of $2,419 on Friday while silver rocketed $2 an ounce to $31.77, its highest close since 2013.

In this edition of AGE Gold Commentary, Ill explain the changing economic conditions that have put both metals into overdrive, including GDP, employment, retail sales, and crucially, record consumer debt and rising delinquencies.

Well analyze the latest charts to understand the new support and resistance levels for gold and silver. Ill put their recent price action into perspective by looking back 20 years to earlier peak rallies. And Ill outline what I think is coming for both metals, based on recent history and current conditions.

Spoiler: silver is in breakout mode, opening the door to $40 and higher!

And finally, Ill talk about our limited offer on 2023 South African Silver Krugerrands. One of our long-time trading partners procured the final allotment of last years coins on a sweetheart deal from the South African Mint. Weve been given preferred pricing, which means we can offer these extremely popular 1-ounce silver coins as low as $2.79 over spot, the lowest price youll find anywhere. But theyre almost gone, so dont delay!

Please call us at 1-800-613-9323 and we ll be happy to help you.

And please join me for this brief but important Gold Commentary by clicking the link below. You can also view this video on the AGE YouTube channel, which includes a transcript.

Sincerely,

Dana Samuelson
President