Also, we heard a lot of news last week that the U.S. Mint increased the price of its 2020 Silver Eagle to $67. I discuss why the U.S. Mint is increasing the price of the 2020 Silver Eagle and if that is going to impact precious metals investors.
The USD/ZAR chart has been a good predictor for silver rallies. Similar to the US Dollar index, but a bit more accurate or precise. Very important silver bottoms tend to coincide with tops of the USD/ZAR chart.
Regardless, there is a half-billion oz of Silver Eagles held mostly by Americans. I can assure you, those who own Silver Eagles will be glad they protected wealth in these high-quality silver bullion coins.
On Monday, the dollar rose from 1.16 grams silver, to 1.26g.
Conventional monetary thinkers believe that the dollar can be measured either in terms of the euro, pound, yuan, etc. Or in terms of consumer prices.
But these are not units of measure.
And that’s because consumer prices are subject to huge forces pushing them both up (rising costs of compliance) and down (falling interest rates, and rising efficiency).
Using consumer prices to…
In my newest update, I explain that the silver price trend for the next quarter will depend on what happens over the next 7-10 days. If the U.S. Government comes out with a new stimulus plan, then we are going to see higher silver and gold prices. However, if there isn’t a new bill put forth, we could see a short-term correction in the precious metals and broader markets.