U.S. Mint “Numismatics – The Road Ahead”

U.S. Mint

Dillon Gage representatives were excited to be a part of the U.S. Mint’s 2017 Forum, “Numismatics – The Road Ahead,” held at the Mint’s D.C. headquarters last week. After acknowledging the Mint’s storied 225-year history, the meeting reviewed the technological progress they have made over the past couple of decades, from how coins and medals are produced to how they service their customers. Technology has played a key role in both of these areas.

Here are highlights from what was discussed and detailed about how the Mint functions and some of its new technologies:

  • Prescriptive legislation details exactly how coins should be designed, what metal should be used, what size it should be and even at what mint it should be produced. This is all determined by the legislature. The U.S. Mint’s job is to steward the project through so that the ideas become reality.
  • The American Gold Buffalo coin was the first fully digital design.
  • U.S. Mint commercial website stats – at its peak performance:
    • Accepted up to 92 orders per second
    • 208.000 orders per minute
    • With 35.000 active sessions at any one time.
  • The recently added chat function on the website has been embraced by customers and is a key method of communicating on the Mint’s website. The number of chat sessions exceeds the number of incoming emails.

U.S. Mint Street SignThe Mint’s Official Five-Year Outlook

The United States Mint continually seeks to adapt and better serve our customers. By reviewing employee feedback and hearing input from every directorate, office and facility, our five-year was developed to establish a roadmap to both handle the changing environment and achieve our goals.

Over the next five years, the Mint will develop a more agile organization that responds appropriately to changing external and internal conditions to meet its mission.

The Mint will continuously cultivate its workforce, maximize efficient, and leverage technology to improve its operation across the organization. By accomplishing these strategic goals, the Mint will continue to enjoy success while laying the ground work for a promising future.

Gold Slips On Senate Budget Vote

The Market Gage - Dillon Gage's Precious Metals Newsletter

Walter Pehowich is on vacation this week. Market Insights are prepared by senior Dillon Gage analyst.

The bulls continue to run wild, smashing records on Wall Street, as the Dow Jones Industrial Average hit another all-time high Thursday, topping out at 23,163.04. Confidence that corporate earnings will continue to beat expectations seems to be fueling this extended rally. Not bad considering that yesterday was the 30th anniversary of a day we’d all like to forget—Black Monday–when the stock market crashed over 500 points in one day…almost a 23% loss.

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Gold Preps For Near Term Rebound

The Market Gage - Dillon Gage's Precious Metals Newsletter

Walter Pehowich is on vacation this week. Market Insights are prepared by senior Dillon Gage analyst.

After starting the week strong, several factors combined to pressure gold prices.

The shine was taken off the yellow metal on Monday when Bloomberg reported that Stanford University economist John Taylor could have the inside track on Federal Reserve chairmanship as he had “made a favorable impression on President Donald Trump” last week. Why would this hit gold? Bloomberg says Taylor is “the namesake of a well-known monetary policy rule that would generally advocate higher interest rates.”
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Gold Looking To Protect Gains

The Market Gage - Dillon Gage's Precious Metals Newsletter

Walter Pehowich is on vacation this week. Market Insights are prepared by senior Dillon Gage analyst.

Last week saw gold prices ping a three-week high on Friday, pushing right back past the $1,300/oz. threshold once again this year on softer than anticipated Consumer Price Index Numbers. December futures contracts held just higher at $1,303/oz.

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Higher Interest Rate Talk Hits Gold

The Market Gage - Dillon Gage's Precious Metals Newsletter

The CBOE VIX index, the gage that illustrates how much risk is anticipated in the implied volatility of the S&P 500, is now at an historic, all-time low. It seems the term safe haven, which has always been used to describe an investment in precious metals, is now being used to describe the risk in equity markets.

In my 41 years in this business I have never seen such complacency in the stock market. One economist I spoke with this morning indicated that if the corporate tax rate is reduced to 15 percent he believes there will be a massive improvement in our economy and expects the equity market to increase exponentially in the coming months.
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2018 Bullion Release Schedule

Here’s the current release schedule of just SOME of the new bullion that will be available soon from Dillon Gage. This schedule will be updated as information is confirmed.

• 2018 RCM Silver and Gold Lunar Dogs – October 2nd
• 2018 Australian Silver Kookaburra – October 4th
• 2018 Queen’s Beast Griffin – Silver 10 oz and Platinum 1 oz – October 9th
• 2018 Australian Gold Dog – Lunar Series – Oct 23
• 2018 Australian Silver 1 oz Kangaroo – Oct 23
• 2018 Australian Platinum 1 oz Kangaroo – October 23
• 2018 Britannia Gold (1 oz, 1/2 oz, 1/4 oz, 1/10 oz) and Silver 1 oz – Nov. 1st
• 2018 RCM Silver and Gold Maple Leafs – Mid-November
• 2018 RCM First in The Predator Series – Early January
• 2018 Britannia Platinum 1 oz – January 5th
• 2018 Australian Koala Silver Coins – January 8th
• 2018 Sovereign Gold – 1 oz and 1/2 oz – January 8th
• 2018 RCM First in the Call of the Wild Series – February
• 2018 RCM 30th Anniversary Silver Maple Leaf – February
• 2018 Queen’s Beast Red Dragon – Silver 10 oz and 1 oz – March
• 2018 Queen’s Beast Black Bull of Clarence – Gold 1 oz and 1/4 oz and Silver 2 oz. – March

Lower Dollar Boosts Gold

The Market Gage - Dillon Gage's Precious Metals Newsletter

The price of gold up this morning as the U.S. Dollar and Treasury yields are seen lower this morning.

Even though the Gold EFF is a not as big as the futures market the inflow continues ten out of the last eleven days. There seems to be investors out there that are dead set on adding Gold to their portfolios.

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Treasury Yields Hit Gold

The Market Gage - Dillon Gage's Precious Metals Newsletter

The price of Gold is really taking it on the chin this morning as the yield on the Ten-Year Treasuries breaks thru the 2.30 level. Just a few weeks ago, the yield on the Ten-Year was approaching the 2 percent level. No wonder Gold has been declining with this kind of rally in Treasury yields. Combined with a much stronger dollar, it creates perfect recipe for a much lower Gold price.
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Gold Kept Afloat By ETF Inflows

The Market Gage - Dillon Gage's Precious Metals Newsletter

Gold ETF inflows continue to dominate the Gold arena as over 100,000 ounces were added to the funds. That’s five out of the last six days that have seen an increase in holdings.

I guess you can say the ETF interest in the yellow metal is keeping the price of Gold afloat. Meanwhile, a stronger dollar this morning is keeping the price of Gold in negative territory and there doesn’t seem to be any news today that will change that.

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Gold Slows But Gold ETFs Still Growing

Let’s chat about where I stand

There is nothing I enjoy more than a healthy debate on the future of the markets. Recently I’ve been told by some, that an investment in precious metals is a bad decision. But let’s look at the numbers. Up until Wednesday of this week, the price of Gold outperformed the Dow in 2017, 14 percent to 13 percent. I consider that a home run for the long term Gold investor.
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Dollar Weakens – Gold On Solid Footing

The Market Gage - Dillon Gage's Precious Metals Newsletter

All eyes on the Federal Reserve today ahead of the conclusion of its two day meeting. A decision on interest rates and Balance sheet reduction to be released today at 2 pm eastern time.

The Chairwoman will be speaking right after the news is released. We don’t expect any increase in interest rates at this meeting, but we do expect some clarity in their steps to reduce the balance sheet.
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N. Korean Missile Sparks Brief Gold Spike

The Market Gage - Dillon Gage's Precious Metals Newsletter

Yesterday, North Korea launched its second missile in less than a month and created panic buying in Gold from the Far East. Air raid sirens could be heard all over Japan as a North Korean ballistic missile flew over head and landed in the Pacific ocean.

Within six minutes of North Korea launching their missile, South Korea responded with a launch of their own sending Kim Jung Un the message, “we can play the same game.”
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Equities Rally – Gold Dips

The Market Gage - Dillon Gage's Precious Metals Newsletter

Walter Pehowich will be back with Friday’s commentary, today’s comments come from a senior Dillon Gage Staffer.

After gold reached a one-year high last Friday, profit-taking opportunities have followed, leading the yellow metal into downward technical correction territory late Tuesday. As of this morning, gold prices dropped about $10 more and are hovering at $1,321. Meanwhile, the Dow Jones Industrial Average jumped up over 60 points, leading a rally in the equities market.
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One-Year High Hit By Gold

The Market Gage - Dillon Gage's Precious Metals Newsletter

Gold hits a one-year high after U.S. Ten-year Treasury yields approach the 2 percent level. The dollar also heading in the same direction trading as low as 91.01 overnight.

After hitting these lows, both products have recovered a bit, bringing the price of Gold off the highs of $1,362.40 in the December CME futures contract.
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Gold Rises As Dollar Falls

The U.S. Dollar at a 32 month low this morning boosting the price of Gold.

Weakening dollar causing the price of Gold to break thru a solid of support at the $ 1348 level in December. The question remains looking at how far the dollar has declined can we get a sustained rally in the price of Gold?
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Lower Than Expected Jobs Number Boosts Gold

The Market Gage - Dillon Gage's Precious Metals Newsletter

A less than expected August jobs report released this morning rallied spot gold nine dollars. Revisions to the June and July unemployment numbers (now down 40,000 jobs) also had an effect.

Yesterday, ADP released their Private Sector jobs report for August and the private payrolls increased by 237,000. Good news for the Equity market as they were only expecting an increase of 185,000.
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North Korean Fears Cool – Gold Eases Lower

The Market Gage - Dillon Gage's Precious Metals Newsletter

One can only imagine how much panic buying in gold came out of the Far East Monday night after North Korea shot a missile over Japan. Even our equity markets sold off into triple digits on the news.

Yesterday the yield on U.S. Treasuries got down to 2.0854 and is now back above the 2.14 level. Even the U.S. Dollar was looking for a flotation device after trading as low as 91.62 and is at 92.72 at the time of this report.
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Dillon Gage Metals Enters Agreement With China Great Wall

Wholesaler Now Authorized to Distribute Bullion Coins

SINGAPORE, (Aug. 29, 2017) – Dillon Gage Asia, a subsidiary of Dillon Gage Metals, one of the world’s largest precious metals wholesale firms, has entered into an agreement with China Great Wall Coins Investment Ltd. to distribute bullion coins from the official sovereign mint of China. China Great Wall is a subsidiary of the People’s Bank of China, based in Hong Kong.
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Gold Bubbling Just Under $1,300

The Market Gage - Dillon Gage's Precious Metals Newsletter

The price of gold getting a slight boost this morning from a weaker dollar, but still unable to get over the $1,300 dollar level. Higher equities prices keeping investors interested in that market.

Many Wall Street traders are still looking for the price of spot gold to settle over the $1,300 dollar level before taking on a long position.
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American Eagle Sales as of 8/24/17

U.S. Mint Year to Date Sales of Silver and Gold American Eagles

The following chart includes the year to date totals for 2017 from the U.S. Mint as of 5pm on August 24th. The chart also shows the change in sales from 8/17/2017 which we reported on August 18th.

Coin Sales in oz. /#coins + from 8/17/2017
One oz.
Half oz.
Quarter oz.
Tenth oz.
Coin Sales in oz. /#coins + from 8/17/2017
One oz.

Weaker Dollar Can’t Boost Gold Out of Trading Range

The Market Gage - Dillon Gage's Precious Metals Newsletter

The price of gold still stuck in the mud looking for some bit of news that can get the wheels spinning again.

Helping a little, is a weaker dollar and softer Treasury yields. As we speak, the price of gold is still locked in a trading range between $1,270 and $1,300 and needs a little help, I believe, from the equity market. With all the chaos in Washington, eventually the equity investors must realize that there is little chance anything can get done on any of the President’s proposals. So in short order, it might be time to reevaluate their holdings…

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Weaker Dollar Makes for Firmer Gold

The Market Gage - Dillon Gage's Precious Metals Newsletter

As we start a new week, the price of gold is seen a little firmer due to a slightly weaker dollar and softer treasury yields. But overall, our market is looking for a direction, whether it will come from a declining equity market or a declining dollar we will just have to wait and see.

As I indicated in Friday’s comment, gold investors were hoping for the spot price of gold to settle above the $1,300 dollar level as an indication that there was more room to the up side, but strong selling emerged and stalled the rally.
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Gold Approaching $1,300

The Market Gage - Dillon Gage's Precious Metals Newsletter

The price of gold picking up steam this morning, approaching the $1,300 dollar level.

Many issues in the marketplace are supporting the price at these levels. One major factor that can affect the value of the equity markets and in turn the price of gold is whether President Trump’s aide Gary Cohn stays on. The market views Mr. Cohn as the key person who could help the President push thru his tax reform plan. In the event he resigns, many believe that tax reform will be dead and a selloff in equities will occur.
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Special Edition: Stronger Dollar Fails to Dent Gold

Despite a stronger dollar and higher US Treasury Yields the price of gold marches forward. The release yesterday of the July Fed minutes seemed to convince many gold investors that the Fed does not have the ammunition to raise rates any time soon.

I found the Chairwoman’s comments interesting in how she described the low rate of inflation. She said, “I attribute the recent slowdown to idiosyncratic or peculiar factors like cheaper wireless service.” Really? Cheaper wireless service is one of the main factors inflation is low? I think she can do better than that.
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