Mexico Monetizing the Silver Libertad Coin Could Bring Trouble

First published by Money Metals here: https://www.moneymetals.com/news/2017/09/18/silver-libertad-coin-market-trouble-001161

Recently, there was a debate in the Mexican Congress on the proposal to monetize the Silver Libertad Coin. The debate took place during a forum for “The Promotion of Savings for Mexicans.” If Mexico decided to monetize its Silver Libertad Coin, it could have a severe impact on the silver market and price.

$GLD and $SLV Prices as of September 18 2017 @moneymetals


September 18, 2017 -- Gold and silver prices lost ground last week. Safe-haven buying for the metals dried up as stock prices surged to new all-time highs.

The economic devastation of hurricanes and rising tensions involving North Korea are being overlooked – at least for the time being. Never mind the last week's predictions of significantly weaker 3rd quarter GDP based on the effects of Harvey and Irma.

The Federal Open Market Committee (FOMC) meets again this week. Fed officials including Janet Yellen have been talking more like doves in recent weeks.

Few expect them to raise the federal funds rate and any weakness in GDP may well provide good cover for holding rates steady through the end of the year.

Over the weekend, we saw administration rhetoric toward North Korea escalate. There are also, unbelievably, more storms brewing in the Atlantic which could threaten the U.S. The U.S. dollar also remains in a tenuous position. The makings are there for some safe-haven buying in gold and silver in the days ahead.

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