Gold to $2,500? And Why This Silver Asset Should Top Your List

Since its inception in 1986 as part of the esteemed American Eagle Bullion program, the American Silver Eagle has become one of the go-to choices for investors seeking silver assets. In fact, it’s the top-selling coin at GoldSilver.

But what sets it apart from other similar silver coins?

In this week's Nuggets, we'll give you the facts on one of the world’s most popular silver bullion products. Also, catch up on the latest gold price predictions from JP Morgan, Federal Reserve updates, and more.

Let's get started.

JP Morgan Sees Gold Soaring to $2,500  
JPMorgan Chase & Co. tags gold as its top commodity pick, forecasting a potential surge to $2,500 per ounce this year. Natasha Kaneva, the bank's lead commodities researcher, highlighted the metal's recent climb over $2,200, suggesting a climb to $2,500 is within reach if inflation moderates and job growth stabilizes.

Gold Jumps Above $2,200 an Ounce for First Time  
Gold surged above $2,200 for the first time as many investors grew confident the Fed will soon cut rates. The precious metal rose to a record $2,220.89 this week, before paring those gains. Gold has rallied more than 10% since mid-February.

Yellen Says She Regrets Saying Inflation Was ‘Transitory’  
Treasury Secretary Janet Yellen has expressed regret for previously labeling the 2021 inflation spike as "transitory." Initially, this term was used by officials to suggest pandemic-related price hikes would quickly pass. However, in a FOX Business interview, Yellen conceded the term might have misled the public into expecting a shorter duration of inflation than what has unfolded.

China’s Youth are Investing in Gold Beans to Save  
As gold hits new peaks, it's capturing the interest of investors worldwide, particularly among China's youth. Generation Z in China is reportedly increasingly investing in gold beans, each weighing a gram and priced at around $84.50 (600 yuan), to preserve wealth.

Silver Production Set to Grow 4.1% in 2024  
Global silver production is poised for a significant increase, projected to jump 4.1% to 916.1 million ounces in 2024. This optimistic forecast stems from resumed and expanded mining activities, especially in key silver-producing countries like Mexico, the US, China, and Russia.

Alan’s Latest Controversy  
Alan Hibbard’s latest video on perceived value vs true value is causing quite the stir. It has nearly 7,000 likes, hundreds of comments, with some folks calling Alan an "idiot" or worse.

Do you agree with Alan’s take on perceived value vs true value? Take a look at his short video and see for yourself.

Some homeopathic enthusiasts actually drink silver, because they believe the metal's antibacterial properties will kill germs. However, drinking too much silver can cause argyria, a unique condition that:

A. Causes hair loss
B. Increases blood pressure
C. Turns the skin blue
D. Increases sensitivity to light and pain

Scroll to the bottom of this email for the answer...

Inflation Update: February 2024 Data

February 2024 witnessed a persistent yet slightly tempered inflation, according to the Bureau of Labor Statistics. The consumer price index (CPI) rose by 3.2% annually, with a monthly increase of 0.4%, still overshooting the Federal Reserve's comfort zone of 2%.

Here’s where prices went up the most:

• Frozen noncarbonated juices +drinks jumped up +27.2%
• Motor vehicle insurance is up +20.6%
• Admission to sporting events: +11%
• Sewing machine, fabric + supplies: +11%

Economist David Doyle of Macquarie cautions against early celebrations in the fight against inflation, highlighting recent spikes in gas and shelter costs as potential obstacles.

For a detailed analysis, CNBC offers an in-depth look at February's CPI movements.

The American Silver Eagle: A Masterpiece of Minting

Since its inception in 1986 as a part of the American Eagle Bullion program, the American Silver Eagle coin has quickly become one of the most popular silver bullion products worldwide.

But what makes the American Silver Eagle so popular? Here’s are the basics.

American Silver Eagle Facts

• Its iconic "Walking Liberty" art was designed 70 years earlier by artist Adolph A. Weinman, where it was originally used on the Walking Liberty Half Dollar in 1916.  
• Each coin contains one ounce of .999 fine silver. The weight, content, and purity of the silver is guaranteed by the U.S. government, making them easy to buy or sell anywhere in the world.  
• As of the latest data available, the U.S. Mint has struck a total of 658,018,441 American Silver Eagles. The peak year for production was 2015, with a record 47,000,000 coins minted, when silver was priced between $15 - $18 per ounce.
• The American Silver Eagle coins are minted at several locations, including the renowned West Point Mint in New York, the San Francisco Mint, and previously at the Philadelphia Mint.  

The American Silver Eagle is considered by many to be one of the most beautiful coin designs ever produced by the U.S. Mint. Beyond its aesthetic appeal, the coin has a legal tender status in the United States, with a nominal face value of one dollar. However, at one troy ounce of 99.9% pure silver, its market value is significantly higher.

A Top Choice in Silver Bullion Liquidity

Over the years, the American Silver Eagle has been issued in bullion, proof, and uncirculated versions, catering to different segments of the coin collecting and investing community. In 2021, the U.S. Mint introduced a new reverse design featuring a soaring eagle to celebrate the program’s 35th anniversary.

Here's where it gets exciting for investors: the American Silver Eagle is one of the most liquid bullion products you can own. Looking to sell? History shows that you’ll find plenty of eager buyers at your fingertips, making it easy to liquidate you decide the time is right.

Silver Eagles can have higher seigniorage fees, essentially the costs or profits associated with the process of minting coins. But as Mike Maloney points out, when the time comes to sell your Silver Eagles, you’ll realize a profit on both the higher price and the higher premium.

In the world of precious metals, the American Silver Eagle stands out as one of the top choices for precious metals investors. If you’re a new investor, thinking of buying silver for the first time, you can’t go wrong with American Silver Eagles

Add some to your portfolio today.

Buy Gold or Silver Today

That’s it for this week's edition of GoldSilver Nuggets. We'll be back with more news and updates next week!

Best,

Brandon S.  
GoldSilver

Some homeopathic enthusiasts actually drink silver, because they believe the metal's antibacterial properties will kill germs. However, drinking too much silver can cause argyria, a unique condition that:

A. Causes hair loss
B. Increases blood pressure
C. Turns the skin blue
D. Increases sensitivity to light and pain

Answer – C. Turns the skin blue

Argyria is a rare condition caused by excessive consumption of colloidal silver or silver compounds, leading to silver deposits in the skin and other organs. It's characterized by a notable side effect: turning the skin blue or bluish-grey.

This discoloration is a result of silver reacting with sunlight, similar to how silver nitrate in photographic paper darkens. The condition is permanent but is considered more cosmetic than life-threatening. Therefore, while silver does possess antibacterial properties, its ingestion should be approached with caution to avoid such irreversible effects.