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Gold & Silver Bullion Sales Drop Sharply At Perth Mint and U.S. Mint
Today’s AM fix was USD 1,288.50, EUR 964.27 and GBP 765.23 per ounce.
Yesterday’s AM fix was USD 1,292.75, EUR 965.03 and GBP 765.71 per ounce.
Gold fell $0.40 or 0.03% yesterday to $1,288.10/oz and silver slid $0.38 or 1.88% to $19.81/oz.
Perth Mint Gold Bars
Gold is marginally higher in London this morning but remains in a tight range between 1,287/oz and 1,292/oz. Trade remains lackluster and futures trading volume was 50% below the average for the past 100 days this morning, Bloomberg data show. Overnight gold in Singapore was marginally higher consolidating on the spike in gold seen in late trading in New York.
Silver for immediate delivery rose 0.5% to $19.85 an ounce. Spot platinum was flat at $1,454.63 an ounce, while palladium added 0.2% to $851 an ounce.
Gold remains in its summer doldrums despite the western world sleepwalking into another major conflict with Russia and potentially another World War.
Gold is 7.5% higher this year partly on tensions in Ukraine and in the Middle East and the increasing risk of trade, economic and currency wars.
The world's largest gold ETF, New York's SPDR Gold Trust <GLD>, reported its first outflow since July 24 yesterday, of 1.8 tonnes. Holdings fell 0.2% to 800.05 metric tonnes. This has taken its overall holdings back to just over 800 tonnes. Institutional money is being allocated to gold again as seen in the rising ETF numbers in recent weeks.
In the physical markets, buying remained subdued in the seasonally quiet summer period.
Premiums for gold bars in India remain depressed as they do in China. In top buyer China, local premiums to the global benchmark were steady near $3 an ounce. Premiums in other parts of Asia have also largely remained steady over the past several weeks.
The Perth Mint's sales of gold and silver bullion fell to a three-month low in July, as increasing
hope about global economic growth curbed appetite for the precious metal among some bullion buyers.
The Perth Mint which was established in 1899, operates the only gold refinery in Australia, the world's second-biggest gold producer after China.
Sales of gold coins and minted bars decreased by almost half to 25,103 ounces in July from the same period a year ago, the mint's data showed.
Silver sales totalled 577,988 ounces last month. Gold and silver sales in July were the lowest since April.
Period Gold Silver
Jul-14 25,103 577,988
Jun-14 39,405 586,358
May-14 36,127 630,349
Apr-14 23,461 361,988
Mar-14 30,177 545,165
14-Feb 47,003 392,088
14-Jan 64,818 912,388
13-Dec 58,943.61 845,940.53
Nov-13 52,700.23 807,246.05
Oct-13 77,255.18 821,579.77
Sep-13 68,488.06 961,977.07
Aug-13 30,430.10 691,258.63
Jul-13 56,488.25 697,247.39
Jun-13 47,692.02 593,534.52
May-13 88,637.82 596,458.40
Apr-13 112,575.40 1,113,461.36
Mar-13 50,356.16 408,178.52
Feb-13 44,399.48 431,237.41
Jan-13 66,669.66 676,742.40
Dec-12 51,777.57 452,390.35
Nov-12 49,004.09 623,345.46
Oct-12 54,779.00 465,033.74
Sep-12 82,066.89 1,259,702.59
Aug-12 37,196.86 338,945.22
Jul-12 34,588.36 459,270.48
Source: The Perth Mint
Note: Sales figures in ounces. Gold sales include coins and minted bars. Silver figures include only coins as the mint does not issue silver minted bars.
Gold prices slipped over 3 % in July as some positive economic data may have reduced demand for gold despite rising geopolitical risk.
Gold in US Dollars - 5 Years (Thomson Reuters)
Data from the U.S. Mint showed that gold coin sales in July fell about 40% from a month ago. Gold and silver bullion coin buyers have secured their allocations and there is very little new entrants into the bullion market which has contributed to falling demand recently.
Gold and silver price match guarantee - Will match prices offered by bullion dealers internationally >> Bullion Coin And Bar Price Match Guarantee
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So restricting supply is the same as reduced demand now. Just because you aren't pimping out your wife as much doesn't mean nobody is getting any.
gold / silver0.5 clocking in at 292 & has risen since the trend of 285 being hit recently. The higher this number goes the better gold is vs silver, the lower, the better silver is doing.
USLV still holding well has 2.80x ETF performance to fiat silver spot price. It won't be long before it jumps like crazy with the way silver & gold will move http://imgur.com/qXy0cxo,QuOILO8
Two years of constant hand wringing and demonization, along with blatant demonstrations of central bank power might just dampen enthusiasm a bit.
Yeah, we get it. Regardless, the demand is still remarkable.
BTFD.
It's not coin sales that drive the gold price.
Correct its future paper contracts that drive gold price
Cog Diss :"Perported"
Love that word, which means "Perps Reported" right?
If all the gold perported to be there, ain't there, then Logically it must be Putin's fault.
40-45 million oz of ASE this year and maybe for the forseeable future.
How many tons is that? I suck at math.
I do know that scrap sterling has disappeared from my LCS and thrift stores. Gone Baby Gone.
http://www.google.com/search?q=45000000+troy+ounces+in+metric+tons
45 000 000 troy ounces = 1 399.65646 metric tons
1400 sounds near,
1400 metric tons = 45 011 045.2 troy ounces
gold 1308 now.
Spoke with my brother, an investment banker in Hong Kong, and his wife (who used to work for JP Morgan) the other day about Gold.
When I asked them if they own any (and they have lots of cash) they both looked at me like I was mad. But when I put a few ounces in their hands I did detect a slight change in them but that could very well be because Gold is a beatiful metal.
Still, they won't do anything about it. What's the saying about horses, led, water, drink, etc?
It might be because they are deep inside the machine. Gold is the anti Fiat. WS relishes in the Fiat; the Repothications; the 4-10% Reserve ratios.
Their whole professional life is wrapped around what Gold is NOT
Like many others, they likely hold the delusion of valuing gold in dollars, and fear of "missing out" on the nominal gains they could make on a "real" investment.
You can lead a whore to culture
but you cannot make her think ..
etc.
Hey, I studied horticulture, I think.
Spoken like a true gentleman. Thank you for making my day just a little bit better. :)
The public buys high. I don't want to tell you every data point is bullish. But, this is not the sign of a top. And the public will buy high, very high.
The public does not buy gold. We need to stop deluding ourselves with that.
"The public does not buy gold"
You're right, but I'll finish this sentence for you "The public does not buy gold... until the SHTF then they'll buy anything that's yellow in panic".
If or when SHTF, most won't be able to afford gold with whatever little fiat they have.
it may be a drop over the last few months, but its still a 20% rise YOY
u wanna Un-Stack on that kinda data representation?
The US mint sold all of it's allotted (40,000 units) 24kt JFK's gold coins in about an hour and a half yesterday.
Teary-eyed romanticism?
Rabid barbarism.
Interesting $20 spike this morning, BTW.
Are more tanks rolling than usual somewhere?
Well I haven't 'secured' my allocation of Gold.
I'm a buyer EVERY month of physical, high or low prices...
I buy it whenever I can. The price du jour is just a distraction that I ignore.
But who is buying multiple-ounce gold bars? What on earth could you do with them in a SHTF scenario?
I prefer much smaller units myself.
1/10th oz Maples and silver dimes FTW
Yes, those silver coins are going to come in handy. They're both easily recognized and have value. I wish I had more.
"Wait until people realize all the Gold perported to be there ain't. Then the real Gold Rush will be on like the world has never seen before."
We are living in a new age where "people realize" ---> "big change" is no longer true. Elections and markets are "broken".
The End.
"In the physical markets, buying remained subdued in the seasonally quiet summer period. Gold and silver bullion coin buyers have secured their allocations and there is very little new entrants into the bullion market which has contributed to falling demand recently. Data from the U.S. Mint showed that gold coin sales in July fell about 40% from a month ago."
Wait until people realize all the Gold perported to be there ain't. Then the real Gold Rush will be on like the world has never seen before.
Gold bugs have been saying this since the 1940s. lol
$1 USD in 1940 had the buying power of $17.02 today
An oz of gold in 2040 cost $33.85
$33.85 in 2040 had the buying power of $576.28 today.
(based on bogus BLS statistics - http://www.bls.gov/data/inflation_calculator.htm )
Current price for one oz gold = $1308.00
I think I'll stick with gold.
Scared me to death. I had to open my safe and grope count my stacks. Yep, all the gold perported to be in the safe is.
Oh, you meant someone else's gold.
Never mind.
Wait until what people realize? The phyz gold buyers? They already know it's not there. The paper gold buyers? I honestly don't know too many but the ones I do were always buying paper to make paper profits anyway. So that leaves the mass humanity of sheeple. They neither own, nor care to own gold. I am not sure why I ever bought into the idea that billions of people who never owned gold, or gave a rats ass about it, would care if it was announced on the 6pm news that it was gone. As long as they followed it with a feel good story about a puppy greeting a soldier coming home.
+1000
"feel good story about a puppy greeting a soldier coming home".
Fonz, you're talking about Americans. The Chinese and Indians have more than enough numbers to scoop up all the phyzz that will be left at some point.
I fear the vast majority of Americans are a lost cause in this regard. I tried for a very long time to wake up my circle to stacking phyzz now while they still can. And honestly, it's been extremely fuckin' frustrating to say the least.
However, I'm glad to say that I've been successful enough to get 6 others stash away some phyzz for the future, so with that I am glad to a certain extent. Although they have stacked away some, they haven't stuck with it and haven't really gotten into the history and knowledge of what's going on right now, so they still won't stack regularly, and I feel what they will have when the SHTF won't be even close to enough to help make a big difference.
But I keep trying. We save everyone and can only hope to have helped a few during these times so that they may fair a little better than the rest after this whole shit pile collapses on us.
All we can do is keep stackin' as always. I picked up 10oz's yesterday and grabbed 10 more oz's this morning prior to the mini-blastoff we've seen this morning.
And for anyone reading this who wants to scoop up some phyzz for a decent price I just found this deal on SilverSeek.com.
10 rounds for .10 cents over spot. You can buy more than that, but the minimum is 10oz.
This was my order this morning when spot was still under 20/oz: Pretty damn good deal even with the 5.50 charge. Don't forget to use the 1.00 discount code as well: GSMINTGRANDOPENING
Stack on, bitchez!!! You're welcome :-)
SilverSeek 10-Year Anniversary Round GSM001 10 $199.20 Subtotal $199.20 Shipping & Handling $7.50 Discount (GSMINTGRANDOPENING) -$1.00 Paypal or Credit Card Additional Payment Surcharge (fee Paypal charges GoldSeek Mint) $5.50 Grand Total $211.2010-10-10 Silver Bullion Special
SilverSeek 10-Year Anniversary RoundSilver Price + $0.10 an ounce
10 troy .999 Fine Silver Ounces
SilverSeek 10-year rounds!
SilverSeek 10-Year Anniversary Round SilverSeek 10-Year Anniversary Round is available for purchase in increments of 10Availability: In stock
Currently out of stock. I guess they didn't expect too many orders for this big sale. Pretty neat trick to get people to register fo their site though.
Have faith Fonz, there are more people getting plugged out of the matrix each and every day. You dont need a billion people to cause this gold panic, just the continued increase in the awakening of what money really is.
Interesting and insightful commentary related to that topic...
Perhaps Lostandfound is right; think of the book "The Tipping Point" when you read the article linked below....
http://www.salientpartners.com/epsilontheory/notes/Fear_and_Loathing_on_...