Tag: numismatics

Despite the flat metals market in recent weeks, gold is still up 11% for 2017 vs. declines in most other commodities. One of the reasons for gold’s gain is renewed investor demand. Many major banks are predicting “more of the same” (flat) gold prices of between $1,250 and $1,300 by year’s end, but the London-based precious metals consultancy Metals Focus just released its second annual Precious Metals Investment Focus guide of the year, in which it predicts an average 2018 gold price of $1,400, more than 10% above the average price of $1,260 over the last two years. “We think gold has the potential to test last year's highs as soon as near-term positioning is neutralized,” said the UBS report, written by strategist Joni Teves. The World Gold Council has reported that the Central Bank of the Russian Federation has more than doubled its rate of gold purchases over the past decade, making Russia the largest official purchaser of central bank gold in the world. Down under, Australia’s Perth Mint, which refines over 90% of the newly-mined gold in Australia (the world’s #2 gold-producing nation, after #1 China) reported that their sale of gold products doubled last month, while silver products rose 78%, from 392,091 ounces in August to 697,849 ounces in September. The 2017 Numismatic Forum promises to be a lively, informative, and educational day of discussion focusing on current and future offerings through the lens of a numismatic product’s journey from conception to production. During the first Numismatic Forum last year in Philadelphia, we spoke, and they listened!