Metals Market Report Archive
Metals Market Report 11-21-2024

The Mike Fuljenz Metals Market Report

November 2024 - Week 3 Edition

A “Reversion to the Norm” in Gold and Stocks – Two Weeks After the Election

Imagine that two investors went “all in” on two investments in reaction to the Republican sweep of the White House and Senate on Wednesday, November 6th, when the results of the election were first made clear and markets opened.  Investor #1 bought gold and investor #2 bought stocks. After one week, the stock investor was up and the gold investor was licking his wounds but what about the second week?


Stocks were up 0.5% to 1.0% after one week, then down after 12 days. Gold was down after one week, then silver clawed back to even after 12 days and gold remained down just 2%, while the headlines kept proclaiming a “stock rally and gold decline.” Gold rebounded early Monday, November 18th, in part due to buying after last week’s selloff and a flat dollar. Investors may also be reacting to predictions of high inflation under President-elect Trump IF he installs all of his proposed high tariffs in 2025 – a big if.

Recent indications of rare coin buying activity are very positive, according to leading dealers that I network with. They and us are all reporting optimism by rare coin buyers due to President Donald Trump winning the recent election, as well as, the Republican-controlled House and Senate. Buy rare coins now before prices hike.

 

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