June 11, 2018

Only Short-Term Gold Effect Expected From Trump-Kim Meeting

 

Any movement in the price of gold from the meeting between President Donald Trump and North Korean leader Kim Jong Un will be only temporary, predicts Barry Stuppler, President of the Accredited Precious Metals Dealers (https://apmddealers.org), a division of the Professional Numismatists Guild (https://pngdealers.org).

"The gold price seems to be in a holding pattern ahead of news coming as a result of the upcoming US-North Korea summit, last weekend's G-7 meeting and Wednesday’s Federal Reserve meeting. These events are highly likely to have only a short-term effect on the direction of the gold price. Geopolitical concerns about Iran and Italy have taken a back seat to concerns of how a global trade war will escalate and the market is waiting for the first news report coming from Singapore," said Stuppler.

"I look for gold to break out of the recent trading range of $1,282 to $1,307 per ounce very soon, and I believe it will be on the upside," he predicted.

All 48 nationwide 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.

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Each year the PNG publicly recognizes outstanding achievements in the hobby and the profession by honoring deserving recipients with awards in a half-dozen categories.

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