This morning while sipping my coffee in the backyard I had some very pleasant surprises. As usual, I had the old laptop out with me and was looking at the markets. First off, my expresso came out really good, which is always a pleasant surprise! However, the news of the US Government getting funded to reopen for business for at least 90 days, has the financial markets all very positive for the day. Gold and silver also had huge rallies, and BTC also had a bit of a rally. Ok, maybe a baby rally... But I'll take it!
Hive has been holding it's own and staying above twelve cents which is always great news after the rough month it's had. I really am hoping we can see a nice rally if BTC makes a move to $150K towards the end of the year, or early next year. Hive should get dragged on up too, which is something it desperately needs right now.
Today I am going to dive deeper in the gold markets since it's been a while since I did a real analysis on on the subject. However, I can't do a gold related post without sharing some nice gold, it just wouldn't feel right. And because it is the Silver Gold Stackers Twelve Days of Christmas I am going all out on this one.
For Day 3 I am choosing a coin that I have always wanted to own, but never been able to find the right deal. This the $10 Indian Head gold eagle. This particular coin I found on eBay, and it is a beauty. Have a look:
What an amazing gold coin! I hope you can see why I would like to add it to my collection. Ideally I would like a coin graded mint state at MS-64 or better. The just means it looks as it did when it left the mint and is graded 64 out of 70 total possible points. 70 being an absolutely flawless coin specimen. That does make them more expensive but so much prettier!
Just an interesting historical side note, this coin was designed by the legendary sculptor Augustus Saint-Gaudens who first proposed the coin look like the design below. As a matter of fact all US coins were meant to carry this image at one point...
Image by Wehwalt
The plan was changed by President Theodore Roosevelt insisting on an Indian Headdress be placed on Liberty. So Saint-Gaudens added it and this was the coin that resulted. That's what happens when presidents interfere with coin design. Still a gorgeous coin! But I would have loved to have seen the other design across all US coinage... what a loss...
Now onto gold! With news of the US Government finally reopening we saw a huge surge in gold prices in the last 24 hours. It's been over $4,100 per Troy ounce, although down from the all time high set not long ago of over $4,400 per Troy ounce, it still a very bullish move. It pushed past technical support levels and now many are calling for $4,250 in the very near future. It's an exciting time to be invested in gold!
Gold continues to be in short supply due to central and even state governments increasing their reserves. The world is still a very unstable place politically, and as a result people are flocking to the precious metals an their fiat slowly inflates to lower and lower values.
kitco.com gold over last 24 hours
Not a bad day!
kitco.com gold year to date
You can see gold's strong performance this year. Will in continue? I think so...
Gold and silver, in the end, are true money. They have always been relied on over the millennia and always will be. Crypto is another safe store of wealth, but in my opinion the smart man doesn't put all his eggs in one basket. I say invest in both!
That will wrap up my Silver Gold Stackers Twelve Days of Christmas Day 3. I personally love my choice and I just can't stop staring at it. What a pretty coin! Hopefully Santa will be very kind, but this one may be stuck on the wish list for some time to come yet.
I think investing in gold and Bitcoin are both great bets right now. Holding some of each is the smart play for the long term, in my non professional opinion! Please feel free to leave any comments or questions below, and thank you so much for all of your support. Have a great week everyone!
References:
https://en.wikipedia.org/wiki/Eagle_(United_States_coin)
https://en.wikipedia.org/wiki/Indian_Head_eagle
https://www.kitco.com/charts/gold
Disclaimer
I am not a financial planner and this isn't financial advice. Please always do your own research before investing your money. You worked hard enough to earn it!
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