Park Avenue Numismatics
5084 Biscayne Blvd, Suite 105
Miami, FL 33137
Toll Free: 888-419-7136
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Over 30 Years Experience
Park Avenue has over 30 years
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Rare Coin and Precious Metals.
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ability to provide our customers
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Gold last traded at $1,825 an ounce. Silver at $24.51 an ounce.
NEWS SUMMARY: Precious metal prices rose Monday as inflation fears weakened the dollar. U.S. stocks rose after Congress approved the $1.2 trillion infrastructure spending package.
Barrons--"So far, the revulsion to paper currencies has been expressed in a flight to cryptocurrencies, rather than into bullion and mining shares, the traditional redoubts from inflation. Meanwhile, fans of gold and its producers arguably are the most contrary investors, and perhaps the loneliest....
Among the yellow metal's few, proud believers is Trey Reik, managing member of Bristol Gold Group, a consultancy for institutional investors. Indeed, he says that gold equities shape up as the trade of the decade, at least for those willing to buck the consensus.
But more importantly, Reik says, just a 2% to 3% asset shift by institutional investors would create a tidal wave of money that would swamp the relatively tiny group. The entire precious-metals mining industry has a stock market capitalization of $580 billion, which is dwarfed by the $2.5 trillion of a megacap stock such as Apple....
Reik says that gold is acting as a store of value for now. But for a 'hockey-stick takeoff' in the group, the broad market would have to stop setting new highs almost daily."