Precious Metals Update Oct 11th & Why Is The U.S. Mint Increasing Silver Eagle Prices to $67

In this week’s precious metals update, I explain what’s in store for the gold and silver prices over the next few weeks.  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.

After the silver price shot up above $25 on Friday, what’re the technicals show for this week?  Well, what happens to silver will also happen to gold.  I see the metal prices continuing higher, but I still see a correction lower before moving up to new highs next year.

Also, it’s VERY IMPORTANT that you all understand what the Federal Reserve is planning for its new DIGITAL DOLLAR Policy, which I discuss in the Silver Member article below:

If the Fed DIGITAL DOLLAR Policy gets passed, then we are talking about MASSIVE CONSUMER PRICE INFLATION coming our way.

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19 Comments on "Precious Metals Update Oct 11th & Why Is The U.S. Mint Increasing Silver Eagle Prices to $67"

  1. “….It’s my suspicion that the bucket and duck tape carrying the Silver market is leaking badly now.”

  2. OMG, they are NOT increasing the silver eagle, they are increasing the special proof silver eagle that has been double or triple striked and comes with a certificate of authenticity and a blue felt box… can still get the regular silver eagle for about 28-30 dollars…..

  3. DisappearingCulture | October 11, 2020 at 6:42 pm |

    Prior to watching/listening, I want all to know that the $67 price tag is not for the bullion form ASE, but the ever-so-slightly different “burnished” finish sold only from the mint with a nice little box.
    My local coin dealer will not pay one penny more for these over a BU bullion form like Tom Cloud sells for approximately $4 over spot.

  4. Are you ready?

    I was listening to an interview with Bob Moriarity. He said that if the Presidential election was contested (which I expect) and if by Jan-20th the issue hadn’t been resolved, then Nancy Pelosi would assume the office. I imagine such an event would be PM positive and negative for just about everything else.

    • DisappearingCulture | October 12, 2020 at 1:03 pm |

      Moriarty is very opinionated, and I don’t think he’s a constitutional law expert. And this has never happened.

      I would call the assertion “that if the Presidential election was contested (which I expect) and if by Jan-20th the issue hadn’t been resolved, then Nancy Pelosi would assume the office” as a very unreliable statement.

      Legal injunctions alone could stop that for a while.

      • Honestly, I don’t know what would happen if the Presidential elections were contested past Jan-20th. Something to ponder and in my opinion you should have a plan if things go sideways for a while.

    • If the election was disputed, then Trump would stay in office until the dispute was ended. There is no historical precedent for anything else.

      If Trump allowed anything else to happen, then it’s over for this country, plain and simple. The value of your stack would be the last thing you would be concerned with.

      Trust me, this country has never been in such peril. Just the idea that it would be contested is something that every thinking man and woman should pray doesn’t happen.

      • Disappearingculture | October 13, 2020 at 4:29 am |

        I call Trump emotionally immature, and the stress of constant media & congressional attacks have resulted in emotional instability.
        But Pelosi is also unstable, and IMO not sane.
        I’ve no political heroes; I wish most inside the beltway were gone.

  5. Steve! I did a bit of charting on the US Dollar this morning (my time) and the conclusion was 50/50, however applying my own logic, I think the US dollar (for the moment) is on the rise and I think we will become aware of this within weeks, not months.

    And we all know what that will mean for Gold and Silver.

    BUT then there is your elections over there???

    • RedOpal,

      I know what you mean. That US Dollar Monthly chart does show a possible RETEST of the 96 level. So, if that is the case, then you are correct… the precious metals will correct lower.

      And, as I have stated, I still see a RETEST of the $1,800 for Gold due to the Long-Term Quarterly Chart.


      • That was a lucky guess Steve… Lol The USD has moved off the $0.93c and now the logical price for it to move too is $0.9550c (an increase of 2+cents and it could do that before the elections.

        Wouldn’t that give the “Donald” something to campaign on?

        If this is the case I would expect our dollar (the AUD) to pull back under 0.70c

        So a pull back in Gold and Silver could happen before Christmas. That wouldn’t be such a bad thing would it?

  6. I wonder how much they will raise the price of special proof eagles once silver spot hits $67.

    • Disappearingculture | October 12, 2020 at 9:19 pm |

      Just buy a proof from years past…they all look the same except date.
      Lots on ebay, and coin dealers have them.

    • DisappearingCulture | October 13, 2020 at 4:34 am |

      In an attempt to make more profit by massive catalog & website price increases, the Mint is pricing themselves out of the market.

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