The following news release was issued by the Professional
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 and 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 (www.APMDdealers.org) 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.
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“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
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“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 https://apmddealers.org/apmd-dealers.