January 25, 2018

Dealers See $1,460+ Gold At Year’s End, Reports Professional Numismatists Guild

Gold ended 2017 at $1,306.30, so a predicted close at $1,461.33 would be a $155.03 increase; 11.8 percent,” said PNG President Barry Stuppler.

 


Photo courtesy of Numismatic Guaranty Corporation, www.NGCcoin.com

(Temecula, California) January 25, 2018 – Gold is anticipated to reach $1,460 or potentially more, silver about $20 and platinum at about $1,150 by the end of the year, according to an informal survey conducted between January 16-24, 2018 of some of the country’s leading precious metals retail dealers, according to the nonprofit Professional Numismatists Guild.

Members of the Guild’s Accredited Precious Metals Dealer program were asked if their estimates for precious metals prices at the end of 2018 now had changed since the year-end New York spot closing prices on December 29, 2017. Several respondents indicated they have increased their 2018 year-end projections for gold in the last few weeks because of such things as speculation about additional Federal Reserve interest hikes, potentially higher oil prices, higher inflation in the United States and Europe or a weaker U.S. dollar.

“A majority of the respondents, who are on the front lines of buying and selling physical precious metals coins and ingots with the public, have slightly revised their estimates upward. Of course, prices fluctuate during the year, but the average of their estimates now is for gold to be $1,461.33 an ounce at the end of 2018. Gold ended 2017 at $1,306.30, so a predicted close at $1,461.33 would be a $155.03 increase; 11.8 percent,” said PNG President Barry Stuppler.

Two of the 25 respondents thought gold would be a little lower than $1,400 by year’s end, and three thought it could be $1,500 or more.

Estimates on silver by the end of the year varied quite a bit, from a low of $16.25 to a predicted high of $30.70. The combined average estimate for the end of 2018 was $20.00. Silver closed in New York at $17.06 at the end of 2017.

Estimates for platinum by the end of 2018 ranged from a low of $1,000 to a high of $1,400, with the combined average estimate at $1,150.23. Platinum closed at $935 at the end of New York spot trading in 2017.

“Precious metals investors should consider cost averaging by making purchases over intervals of time, and always be mindful of the premiums being charged over the intrinsic value of the precious metal coins or ingots. You absolutely need to know your precious metals dealer,” advised Stuppler.

All members of the Professional Numismatists Guild Accredited Precious Metals Dealer (PNG-APMD) program undergo a background check, must adhere to a strict code of ethics in the buying and selling of numismatic items and guarantee the authenticity of the numismatic merchandise they sell.

A directory of PNG-APMD members can be found at www.apmddealers.org/apmd-dealers.

More recent news...

November 4, 2019

Must-Know Tips to Avoid Gold Scams

To avoid potential scams, such as counterfeits, and to avoid paying too much when you buy or receiving too little when you sell, investors absolutely must know the credentials of the bullion dealer.

Continued




September 9, 2019

Don’t Be Rushed In New Gold Rush: Make Wise Choices, Veteran Bullion Dealers Caution

Continued




June 26, 2019

Gold Price Jump Has Potential for Gold-Selling Scams, Experts Caution

If you don’t know precious metals coins, you’d better know your precious metals coins dealer!

Continued




 

More News & Press can be found in our full News Archive.