Bullion Prices Take A Hit

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Coin Market

You could hear the groans coming from almost every gold investor and silver stacker these past few days. After an exciting stretch of days that saw gold soar past $2,000 for the first time ever and silver mark multi-year highs near $30, prices fell sharply this week. Gold at one point pulled back below $1,920 before recovering to about $1,940 today. Silver also shed a few bucks, softening to around $26.

If there’s any promising news for those who want to see bullion prices continue climbing, it’s that the effects of a big selloff earlier this week appears to have clotted. Prices aren’t taking as sharp or protracted a plunge as they did in 1980 and 2011, when gold and silver previously reached record prices. It seems, for the moment anyway, that bullion prices have somewhat stabilized.

Of course, these “lower” prices are still miles beyond where they were earlier this year, when gold had been trading at closer to $1,500 and silver was under $13. But all of the wild buzz about gold going for $3,000, $4,000, or higher has quieted a bit this week. At least for now. What does this mean for those who want to get in on the action? Perhaps it’s a good opportunity to buy gold and silver.

Some of the best buys out there are American Gold Eagles and American Silver Eagles, which are monetized, government backed, and highly liquid. There are also pre-1933 U.S. gold coins and pre-1965 90% silver coinage, some of which can be obtained for lower premiums right now than the American Eagle bullion coins.

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