Platinum Adds to Premium Versus Gold|
November 12, 2013
The U.S. trade deficit is actually shrinking primarily because of the energy boom creating by fracking. Whether you like fracking or not, it is making the USA energy independent. While our trade deficit decreases with the rest of the world, it is still increasing with China. We are approaching the point where half of our deficit will be with China. Check it out here. This has great political and economic consequences and will continue to be a major impact on precious metals. While platinum has been picking up now back at 1.11 to 1 versus gold, both gold and silver seem to be locked in a trading range. There does seem to be good buying support at the lower end of this range. The Chinese and other Asian countries continue to accumulate gold, but there are also strong indications that many wealthy Chinese are also accumulating real estate in the Western world. This could have a significant impact or might just be part of the bigger picture of the West selling much its hard assets to the East.
There is little change in generic type issues although any early copper that is pleasing for the grade remains in excessively strong demand. There continues to be buying activity in Mint State 1921 and 1921-D Mercury dimes. Mint State Barber dimes are on the rise in MS-63 and MS-64 as are Seated 20-cent pieces.
Generic gold type coins are quiet and just follow bullion. There is some minor activity in the smaller scarce type issues but it is not very positive at the moment.
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