Weekly World Numismatic News for April 5, 2020

I know it is difficult to turn away from the news. It is like watching an automobile accident in slow motion. Every day it seems like there is something else. Unfortunately, this is true about the precious metals market.

Europe, which appears to be taking the closings and stay-at-home orders better than the United States, is trying to figure out what will happen to the economy after everything reopens. That is wreaking havoc with the market.

In one story, Germany is beginning to buy gold in preparation for future spending while institutions in Italy are selling gold to stay afloat. While African mines continue to bring metals to the market, investors are buying gold as a hedge for an uncertain future.

In the last 30-days, the price of gold has bounced back almost to pre-market shaking announcements about COVID-19 in the United States. Other metals have not been as active. According to a source, the only thing keeping the price of silver somewhat stable is its industrial use.

Coins and other collectibles that are sensitive to the precious metals market will begin to see a disparity in prices. Common gold coins whose price is tied to the metals market will rise. Silver coins will likely not move on the metals market.

During a conversation with a professional metals trader, I asked what is next for the market. A person who usually has an answer said that he did not know. He said that most traders are not trying to predict the market but react to whatever happens. One of the problems is that the computer models are wrong. In many cases, firms have halted automated metals trading. He said that the situation is so fluid that some of the computer models were buying from themselves.

If you watch the business news on cable television, you will hear a different opinion from every guest. I plan to use the advice given to me: prepare for the worst and turn off the television.

And now the news…

 April 1, 2020

On that day, men shall fling away, To the flying foxes and the bats, The idols of silver And the idols of gold Which they made for worshiping. Isaiah 2:20  → Read more at breakingisraelnews.com

 April 2, 2020

When people are worried about the future they turn to gold to protect their savings. That’s rarely been more true than today.  → Read more at finance.yahoo.com

 April 2, 2020

I estimate that the Germans own 9000 tonnes in private gold-nearly as much gold as the French and Italians have combined. The World Gold Council (WGC) states there are roughly 198,000 tonnes of gold above ground, of which 35,000 tonnes is held by central banks.  → Read more at seekingalpha.com

 April 3, 2020

Polish archaeologists have uncovered a treasure trove of Roman denarii coins. They date from the first and the second century BC, and they probably belonged to a member of a Germanic people who lived in the area at the time.  → Read more at ancient-origins.net

 April 3, 2020

While removing the floor of the church in Obišovce near Košice, the foundations of the old church were uncovered. After this discovery, the archaeological company Triglav conducted research that took place at the beginning of February 2020, the Regional Monuments Board Košice reported.  → Read more at spectator.sme.sk