U.S. bullion dealers predict gold, silver to climb by year’s end

A bullion dealer’s organization based in the United States has predicted gold will close at $1,897 US, silver at $28 US and platinum at $1,153 US by the end of this year.

The forecast, which estimates some prices could go even higher before dropping back down by the year’s end, was made by 25 members of the Accredited Precious Metals Dealers (AMPD) program. They are the mean averages of price predictions made by dealers from across the United States who responded to an informal survey. are the mean averages of price predictions made by 25 accredited dealers across the country who responded to an informal survey.

The AMPD program is managed by the Professional Numismatists Guild (PNG), founded in 1954 as a non-profit organization of dealers – similar to the Canadian Association of Numismatic Dealers – who adhere to a strict code of ethics in the buying and selling of bullion, rare coins, and vintage paper money.

“We’re hearing from dealers that many long-time customers are taking advantage of the recently lower bullion prices to cost average their precious metals investments,” said PNG President Richard Weaver. “We’re also hearing about new buyers entering the marketplace because of the high demand for new designs of the 2021-dated United States Mint American Eagle gold and silver bullion coins.”

Some of the dealers stated they believed gold would top $2,000 US before dropping back below that amount before the end of the year.

“No one has a crystal ball to know exactly what the future will be,” added Weaver, who noted the APMD respondents “based their forecasts on years of being on the front lines of the bullion markets.”

He also advised investors to make price comparisons before making purchases and to beware of counterfeits offered online by unscrupulous sellers.

“Always be mindful of the premiums being charged over the intrinsic value of the precious metal coins or ingots. You absolutely need to know your precious metals dealer.”

The 48 members of the PNG’s AMPD each underwent a background check before being admitted to the program.

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