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Gold Hits Record High Price As US Dollar Falls

Dollars and Sense
July 29, 2020 7:00 PM


As Predicted By Liberty Coin Service In March 2020!

At the COMEX close on July 27, 2020, the price of gold reached an all-time record high of $1,931.00.  In late March 2020, after enactment of the CARES Act, Liberty Coin Service forecasted that this legislation would result in the US dollar falling in value and gold and silver prices would rise.  At the closes on July 27, the US Dollar Index has fallen 9.7% since March 19, while gold was up 31.3% and silver soared 108.5% since March 18.

Said Tom Coulson, owner of Liberty Coin Service, “It was clear to us that the multi-trillion-dollar CARES Act of subsidies and bailouts spent funds that the federal government did not have.  Consequently, inflating the money supply to pay for it would hurt the purchasing power of the US dollar.  Since this law was enacted, the value of the dollar has fallen against most world currencies and has plummeted against gold and silver.  Not only did gold set an all-time record high price yesterday, silver also reached its highest price since April 12, 2013, more than seven years ago!  Our customer demand for bullion-priced precious metals is the highest we have experienced in more than seven years.”

Coulson continued, “Global shortages of physical gold and silver inventories have also contributed to rising gold and silver prices.  In addition, we are seeing signs that some owners of ‘paper gold and silver’ such as commodity contracts and shares of exchange-traded funds are trying to convert their holdings into physical metals.  Because of the falling value of the US dollar and gold and silver shortages, we anticipate precious metals prices will continue to rise in the near future.”

Through the closes on July 27, the 2020 year-to-date results for selected financial assets were:


Silver:                                                         +37.3%

Gold:                                                          +27.1%

Palladium:                                                  +23.0%

NASDAQ                                                  +17.4%

Shanghai Composite Index:                       +5.1%

Standard & Poor’s 500:                              +0.3%


Platinum:                                                    -1.2%

Frankfurt DAX Index:                               -3.1%

Nikkei 225 Index:                                      -4.0%

Dow Jones World (ex-US) Index:             -6.7%

Dow Jones Industrial Average:                  -6.9%

Australia S&P/ASX 200 Index:                -9.6%

Sao Paulo Bovespa Index:                         -9.7%

Russell 2000 Index:                                   -11.0%

London FTSE 100 Index:                          -19.1%

10 Year US Treasury Note Interest Rate:  -67.7%


Frequently-honored Liberty Coin Service, founded in 1971, is Michigan’s largest rare coin and precious metals dealership.  The company provides important but often little-reported information to customers, subscribers and the general public in its monthly newsletter, Liberty’s Outlook posted at  www.libertycoinservice.comin LCS Communications Officer Patrick A. Heller’s weekly columns posted at NumismaticNews.net and other websites, and in Heller’s radio commentaries on Wednesday and Friday mornings on 1320-AM WILS under the title of “Things You ‘Know’ That Just Aren’t So, And Important News You Need To Know.”  Liberty Coins, as it is known locally, has been located in Lansing’s Frandor Shopping Center since 1975.Image result for liberty coin lansing

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Dollars and Sense, hosted by Patrick Heller, keeps you up-to-date and knowledgeable on economic, currency, and commodity issues.

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