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Park Avenue Numismatics
5084 Biscayne Blvd, Suite 105
Miami, FL 33137
Toll Free: 888-419-7136

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Park Avenue has over 30 years experience buying and selling Rare Coin and Precious Metals. We have the knowledge and ability to provide our customers with the best products and services.

Customer Reviews

Gold Rangebound on Rates and Inflation Tug Of War

Wednesday, June 22, 2022

6.22.22 - The Crypto Party Is Over

Gold last traded at $1,840 an ounce. Silver at $21.50 an ounce.

NEWS SUMMARY: Precious metal prices rose Wednesday on safe-haven buying and a weaker dollar. U.S. stocks declined, giving up some of the previous session's gains.

FX Daily--"Gold closed Friday witha small weekly loss for the first time in 4-weeks as rising global yields and a surging USD continues to weigh on the precious metal. However, price action remains somewhat choppy, which appears likely to persist between 1800 and 1880.

As I have said previously, I struggle get bullish on gold given the significant rise in real yields.

Although, what I would say is should yields begin to pullback with a return to 3% for the US 10yr (currently at 3.25%), then this will keep gold afloat. Ultimately, going forward price action is likely to remain rangebound in the short-term."

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