By Appointment Only

Gold & Silver Break Out to the Upside over Fear of Iraqi Conflict

Share this info!

Gold & Silver Prices
Gold and Silver

Gold and silver prices are up on the day over fears of Islamist militants recently taking over the Iraqi cities of Mosul and Tikrit, with Baghdad apparently in their sights.  At the time of this posting, the militants were only 80 miles from Baghdad.  Experts are amazed at the relative ease and quickness of the strikes and capture of the cities.  Iraqi leadership has engaged the assistance of the United States.  While we have yet to deploy troops, we are providing much needed equipment and supplies to help fend off rebel attacks.

Fear of oil fields being captured and the production of oil being affected has caused oil prices to spike over 2%.  The uncertainty of the situation, coupled with rising oil prices, has caused the price of gold and silver to follow suit.   The commodities commonly move in sync, so it’s not surprising that we’re seeing a move toward gold and silver as a safe harbor.

Just recently, Richard Russell, a well-known and respected financial newsletter writer, stated that once silver reaches $19.25 an ounce that we’ll see our next leg up in the price of silver.  This apparently would signify that the bottom is in and that the bear market is over.  As to if Russell will be correct in his prediction, it’s anyone’s guess.  However, with all of the uncertainly in the Middle East, including the Syrian conflict, and considering that Central Banks worldwide appear to be debasing their currencies in hopes of stimulating growth, an investment in gold and silver at this time appears to be a wise move.

Tony Davis
Tony Davis
Tony Davis is the owner of Atlanta Gold & Coin Buyers, a full service Atlanta based coin and bullion dealer specializing in buying, selling and appraising coins and coin collections of all types and sizes. Tony frequently writes on various economic and numismatic related topics affecting the coin and bullion markets and has been published on some of the industry’s leading websites, including Coin Week, the American Numismatic Association, Coin Collector, Coinflation, and Coin Auctions Help, just to name a few. Visit Atlanta Gold & Coin’s website at to obtain additional information on the products, services and educational resources offered by his company. Tony can be reached at or at 404-236-9744

Share this info!

Atlanta Gold & Coin Buyers, Rare Coin Guide

Get Our Rare Coin Guide

Download our Rare Coin Guide! View key dates and rare mint marks for US minted coins.

Please contact us for an appointment.