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Does Surging Demand For Gold & Silver Coins Signal A Bottom?
Submitted by John Rubino via DollarCollapse blog,
Reports of individuals snapping up near-record numbers of gold and silver coins are coming in from around the world:
U.S. Mint American Eagle gold coin sales set to rise sharply in Sept
(Reuters) – The U.S. Mint has sold nearly 50,000 ounces of American Eagle gold coins so far in September, almost double its total in August, as a sharp pullback in gold prices and geopolitical tensions boosted interest for physical products from retail investors.
With only six business days left until the end of September, sales of American Eagle bullion gold coins made for investors were 46,000 ounces, up 84 percent from August sales of 25,000 ounces, the latest U.S. Mint data showed on Monday.
Record highs in U.S. equities also prompted some retail investors to buy precious metal products to diversify their portfolios, said David Beahm, vice president at New Orleans coin dealer Blanchard & Co.
German Bullion Dealers Report Major Increase in Sales
(Gold Reporter) Bullion dealers from all regions report that gold sales in the German bullion trade market surge since last week. Suppressed prices for gold and silver are obviously considered buying rates by German investors. The German precious metals trade reports a surge in sales.
“For about a week we record considerably increased turnover again, which is now on previous year’s level, so it doubled compared to the recent months.”, Rene Lehman from the internet dealer Münzland in Dresden told Goldreporter.
“We can confirm that customer demand has considerably increased in the recent days.“, said Dominik Kochmann, CEO of ESG Edelmetalle in Rheinstetten.
Daniel Marburger, Director of Coininvest GmbH in Frankfurt/Main also stated that “In the past seven working days we have seen an extreme surge in demand.”
Christian Brenner, Chief Executive of Philoro Edelmetalle GmbH: “Already in August we noticed an increase on orders compared to the previous months, but September… September beats it all. From a German viewpoint it’s the strongest month of 2014.”
Perth Mint Gold and Silver Bullion Sales Surge in August
(Coin News) Australian sales of bullion gold and silver surged in August after falling to a three-month low in July, new figures from the Perth Mint of Australia show.
August sales of Perth Mint gold coins and gold bars at 36,369 ounces rallied 44.9% from July and jumped 19.5% from the same time last year. Gold sales were the highest since June. Sales of Perth Mint silver coins and silver bars at 818,856 ounces in August advanced 41.7% from the prior month and grew 18.5% from August 2013. They were the strongest since January. In July, gold and silver bullion sales retreated from the previous month and from year-ago levels.
Individual buyers aren’t the dominant players in precious metals but they do make a difference. And their renewed enthusiasm is matched by some recent national trends:
China imports more gold for holiday; Indian demand set to climb
SINGAPORE (Reuters) – Top bullion consumer China has been importing more gold in September than in the previous month due to demand from retailers stocking up for the upcoming National Day holiday, market sources said.
Demand in India – the second biggest buyer of the metal – is also set to pick up as the festival and wedding season kicked off this week.
With gold trading close to a key psychological level of $1,200 an ounce, markets are keenly watching physical demand in Asia – the top consuming region – to see if it could lend support to prices.
“The physical volumes have been high this month compared to August. I would say imports could be at least 30 percent higher than last month,” said a trader with one of the 15 importing banks in China.
Russia Boosts Gold Reserves by $400M to Highest Since ’93
(Bloomberg) Russia added about 9.4 metric tons of gold valued at $400 million to reserves in July as it expanded holdings for a fourth consecutive month to the highest in at least two decades.
The country’s stockpile, the fifth-biggest, increased to 35.5 million ounces (1,104 tons) last month from 35.2 million ounces at the end of June, data posted on the central bank’s website showed. The amount of gold now held is the most since at least 1993, according to International Monetary Fund data.
Central banks may add as much as 500 tons to reserves this year, the World Gold Council said on Aug. 14. Nations increased holdings by 409 tons last year and 544 tons in 2012.
There’s no guarantee that this buying, encouraging as it seems, is anything more than a blip. But in the aggregate it does seem like a lot of buyers, old and new, are finding current prices to be attractive.
That’s how bottoms form and new bull markets begin.
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woohoo! just got 3 monster boxes of silver eagles and some gold eagles along with Chinese gold pandas! Suck it, Janet!
At current print, silver has a 16 handle! Where's that TMOSLEY guy???
Are you trying to seduce me? 16? I'm buying more!
The CB's are all in at this point and they will sell the shit out of the paper until this goes boom in their face. And it will when some delivery can not be met. Then it is game over, if you want gold you're to late, you can't get any unless your willing to pay out the ass for it, and I ain't selling, I mean I can't find mine
Lick my ass Janet, you and your vodoo are about to end
OT: Windows 10 was unveiled today (they skipped over 9 and went straight to 10). Looks like Microsoft threw a party and nobody came. Again. I didn't hear a damned thing about it until a few minutes ago.
And, by the way, almost all paper gold and silver contracts now have a clause that they can be settled in.... paper (dollars). You'll be waiting a LONG time for this PM beat-down to end due to failed delivery.
The world’s wealthy class doesn’t view gold as an investment at all! I would argue these folks have it right. Simply put, they consider gold to be a store of wealth and believe that anytime is a good time to own some gold.
http://www.planbeconomics.com/2014/09/is-now-the-time-to-buy-gold/
I've been reading the "record gold/silver demand" story for 20 years now.
The simple fact is the vast majority of the public (globally btw) does not view gold as money to hold directly. Until this mindset shifts, the massive CB run will not happen.
The "public" majority of the people will get it wrong, like they always do. Welcome to the crowd!
Is anyone else intrigued by the gold:silver ratio? Now approaching 71:1... is it time to sell some gold and buy some silver, do you think?
In an ideal world I'd be stacking both, obviously, but income is a bit low at the mo. So flipping between gold and silver when the ratios are extreme and then waiting for a bit of mean reversion to maximise my ounces of gold overall.
Also obvious, is that bid/ask on physical is too wide to make this economic, but via Bullionvault the tight spreads make it feasible (assuming you you get the timing right).
Can I have my fellow ZHer's opinions regarding what ratio they think it would be wise to sell gold and buy silver in anticipation of a trend reversal? It briefly peaked ~100 back in '91.
I think you can get both later cheaper. Wait for the dollar to acutely strengthen on a macro event(?), gold and silver will reflexedly spike down and this will be the moment to buy both.
Ask yourself if you think any ratio is going to matter worth a damn a couple years from now, and trust your instincts. JMO
As for Windows 10, wonder when indymedia will start screaming about "back doors." Rgds
Option 2
Sell gold go buy a new car at zero %
Ratio does not mean anything
buy 3000 SDRL shares to pay for the $1000 a month payment, o down payment 0interest on a Toyota tundra .
That is what my Argi friends do in Squaw.
You are correct. The good news, is that metal prices are holding up in spite of abysmal sentiment (could the public sentiment be any worse???).
Granted, I've been attempting to catch this falling knife and keep getting cut.... but I continue
No shit Sherlock(NODebt). What do you think it means when they settle in cash? They ain't got no gold and therefore you got no gold. If you want PHYSICAL GOLD, you need to pay for it. And it wont be cheap, in fact, its going to be pretty fucking expensive.
Chevy or Corvette?
1 I buy cuz its affordable, 1 is too pricey so off the list
Demand shrinks with price
You have to hold paper to call for delivery, those guys dont want delivery.
So who would force it?
China and the physical market will force price discovery. Are you going to pay for a promise when given a real choice?
Gold hub top of page, price set global.. that includes paper
Oh boy! If you like buying silver at 16 you are gonna LOVE buying it at 6!
$6.00 AG? Maybe in NWO dollars.
Buying anything for less than production cost almost feels like stealing.
Gimee Cocksucker. I want it all.................................
May I ask where you ordered from?
Non US denominated bullion bitchez
Listen swampo,
Pure Indian is best.
Why does every one of your posts start with the word listen? If you're going to be a blog gangsta at least upgrade/vary the lingo
Listen Hoarding.
Because I got "STYLE".
KEEP calm
and
keep stacking.
See you on the other side.
You have to admit, he does have style.
"Linda Linda listen to me"
If he was from the east coast and trendy, he'd begin every sentence with "So." It's the latest thing.
So listen Lore...
What's wrong with denominated bullion like Eagles, Maple Leafs, Pandas, etc?
always the same, gold & silver monkey hammered (manipulated) lower, then we ZH'ers clean up in small incremental buys. Try taking delivery on 'tons' of gold and silver at these prices. The sale on PMs wont last long. I'm buying even though my boat appears to have bilge pump issues
My boat was full, and then it sank, and then I bought another boat, and started loading it up.
Lister FUKKER.
USSA IRS bureau now hiring retired Navy Divers for special "TASK" force.
We sent them in there and they came back and said it was laced with arsonic, gonna have to clean up the bottom of the lake, once the divers have been revived.
I work at a wastewater treatment plant. My boat sunk in the primary settling pond. I don't think anyone will be trying to recover it unless the value rises so much that it outweighs the chance of catching Ebola while diving for it...
Keep stacking...........my spidy senses are in overdrive.
Check kimblecharting
All commodities have broken down from multi year runs.
Its not an evil conspiracy targeting you
Makes sense, doesn't it? With the economy going full-throttle, as trumpeted by the MSM and financial media as they point gleefully at the new unidirectional perpetual motion machine that is the US equity markets, you'd expect that booming economy to require dramatically less in the way of raw materials to 'build stuff' (I know, what an antiquated concept, everyone knows we live in the 'information age' now - who builds stuff?)
Think corn flakes.
Smaller packaging on everything
Less corn less plastic less cardboard less ink less trucking less diesel less tires
Suurre....
A 1 lb can of coffee now has about 12 oz.
But you still eat the same amount of cornflakes in each bowl. You just have to buy more boxes.
More corn, more plastic, more cardboard, more ink, more trucking, more diesel, more tires
Listen.
Some say it signals insider knowledge of a global reserve currency that is scheduled for early termination.
And some say its proof there's no supply issue at all...
43 time I've read this headline, or some version of it, this year. Track record is not good.
even a broken clock is right twice a day.
Digital clocks are just plain broken
Well, it is a digital world now. Up arrow.
Not everything digital is electronic. Mechanical digital clocks are still right at least once a day.
From your lips to God's ear.
I think gold goes a lot lower as crazy as that sounds, maybe 1055. But then next stop is all time highs
Lower. Much, much lower.
Agree they (CBers) would take it to zero if the could but their will be a failure of delivery. The lower they take the price the greater the demand, the greater the demand, the smaller the float for physical, until BOOM no more float, then TILT, GAME OVER.
They already took it to near zero.
That one family bribed Clinton, and cleaned out Fort Knox, with a low cost gold "lease". That gold will never be seen again.
'That one family' -which family would that be? LOL
As gold drops, demand will rise exponentially.
So I think the break between paper and real will break sooner rather than later.
Did it signal a bottom in 2013 when the mint sold a record amount of silver?
No it didn't... here we are in the 16s for fucksake.
Exactly.
Also, what is going to happen when this "record amount of silver" is sold back into the market?
Sell your silver and buy stawks?
Nope. Dollar index headed to 96. Might as well shut down your "DollarCollapse" blog. T'aint goin' to happen.
Yeah and if pigs had wings they could fly...
I'm Flying!!!
Dollar will collapse last, first the yen collapses then the Euro Collapses, then the dollar goes down, Then we get world money, SDR's, as a stop gap. Then we gat gold backed currencies. Book it.
Dollar collapses last, 30 or 40 years from now.
Too many Vampire Blooded old fucks want to see it soon. Henry, Henry. I know your out there Henry K.
Think again zipper head. Understand this!!!!!!
http://omfif.cmail2.com/t/ViewEmail/j/D67FD73898398412/894DCB714C95A425765E7602346EC846
Get a book on the panic of 1907 gold backed ( caused ) collapse
Pre Fed.
Why we will never see gold backed again
You are heroically clueless.
1906 earthquake no way for gold to cover damage
Well, for what it's worth, I don't see a "dollar collapse " but the loss of reverve status. In either respect, value becomes less but still a useable currency at least here in the US. I like hard assets incl lead, long term food storage, RE and last , reserve currency. On the reserve currency issue, if CB's, countries etc do it I guess that should work.
Good post, but -1 for the unnecessary boldface.
Wake me up when silver trades below 10
Next year.
Below 3 you mean.
Year after.
Silver below 3 ?,Wtf??!
in what scenario asswhipe?
You are so fucking mentally crippled , it's not funny !
Do you know what that would mean for the rest of commodities , world economy ....etc ... did you think ? Are you capable?
Ah yes, the good old days.
As soon as I place my order tomorrow the price should plummet again.
Typical, but hey, it's cash I don't need at the moment.
I've got lead, eggs, beef and fresh water.
Just need to order some hazmat suits and I'm all set.
Oh ya, 50 kilos of beans, oats, rice, pumpkin seeds and 20 cords of firewood.
And yes bitchez, I'm burning black walnut again this year.
I'm into heat, not woodworking, so spare me the "should have milled it" diatribes!
50 kilos of beans....your place sounds like a real pleasant place to be...
Beans, oats, rice, pumpkin seeds: as the old saying goes, "He'll be able to shit through the eye of a needle."
Ya should have gone with osage orange or some other wood that won't go punk as fast as that walnut.
Our economic skyscraper appears to be burning from the bottom up. The Fed will print while pushing down the price of gold at the same time, until there is none left to buy. Unless of course, a massive deflation is in the works. Nothing to see here.
I just pray that the bottom comes soon enough. I bought so much and really wish I would have waited all at 18.50 silver 1250 gold but hey it's not for sales I bought it for security not investment. but I still hate to think how low it can go by nothing more than the U.S. dollar increasing in value. now that's a head scratcher
Could be worse, you could have bought at $34 and $1650... Won't matter if the SHTF...
Or gold at $1700 for a 72' Krugerrand : (
Well, someone was buying all the way up to ~1900 and ~50. Pity them.
I pitty the fools!!
http://blog.kimblechartingsolutions.com/wp-content/uploads/2014/09/commo...
Your not gonna like this then.
You are aware that those charts are based upon flawed data right?
The place you buy silver from uses them.
Or does he charge you the "real price" ?
Will he take the silver back from you at some price other than the chart?
I hope my silver arrives before my mailman has ebola.
Dear USPS customer,
We regret the inconvenience but have had to commandeer your delivery due to its antimicrobial properties. Our suggestion is to buy a reclamation apparatus and have all your friends and family send you letters.
Truly yours,
Another bankrupt GSE
With a couple of car batteries, maybe 3, and a few silver maples you are good for colloidal silver.
Hopefully it won't get that bad.
Thread winner.
A disconsolate gold bug from Nice
rolled nuggets in birdseed and grease
"Its continued descent
cannot pay the rent,
but at least provides food for the geese"
Does correlation imply causation?
Bring The Gold
http://www.youtube.com/watch?v=_qO66Rmi1Mw (1:00)
Another BULLSHIT missive that ignores the criminal actions in the paper derivatives markets by the CME/COMEX and the lack of enforcement by the government criminals at the CFTC.
Go to f**king hell, John!
Keep stackin, its 2008 all over again X 10
Not yet, maybe soon, but not yet. We go lower.
Lets focus on more immediate issues. The "China Manufacturing PMI" in 20 minutes, is a good place to start.
I'm waiting a "blow off" in some of these F/X trades.
Have they fixed their random number generator yet?
They're all one in the same, when it comes to C/B's.
I'm looking at the Nasdark charts while I'm killing time... That Index is Looong overdue for a good "pile driving".
Man, I thought RUT was bad... Nasdark is much worse.
"That Index is Looong overdue for a good "pile driving"."
Vodka and prune juice, the pile-driver.
Surging phys and record low paper. Sound of other shoe dropping.
That shoe dropped into the river and was lost long ago.
If I were you guys, I would be selling gold and silver. If that's not a reason to buy, one doesn't exist.
Peter Schiff is going to jump off a building.
Not to mention poor Eric Sprott... And John Embry... And... And...
A lot of guys have been awful silent lately...
Eric,Squid
Eric,Squid
Eric,Squid
Eric,Squid
Sorry Eric the Squid has a better track record
Squid it is......
I'll give you a report manana from my LCS.
Betcha he has lots of AU & AG stock.
The local place here is always well stocked. Pissed about the low price, but well stocked.
Perhaps this explains the recent and continuing smashdown........
"Very interestingly BIS about a month ago issued a warning of systemic risk. They said that the system is getting dangerously close to collapse. A few weeks later the IMF issued a similar one. And then last week G-20 finance ministers meeting at Australia issued a warning. What was the last time you saw the three most powerful multilateral financial bodies BIS, IMF and G-20 issued warnings. I have never seen it before. They are telling you it is going to collapse. They see what I say and they are warning you. People would ignore it but when it happens they would be able to say we have told you. I think I have never seen anything like this. I have been in international finance since 1974 and I have never seen a situation like this…"
http://financialflood.blogspot.com.tr/2014/09/exclusive-interview-with-j...
It’s important to have a paid off place.
... and down we go... new gold lows tomorrow... silver with a $15 handle by Friday...
I'm holding off on any purchases until the capitulation happens.
Al Huxley I'm holding off on any purchases until the capitulation happens.
----
Smart move. I look to see silver be near $10/oz before its over.
Disclosure. I own some silver at higher prices so that investment is losing value. But I have also stated that PMs would go down but be higher against other markets in a relative way at some point. That is why I only suggested a small portion of PMs now. Save your powder for lower prices.
I just had a horrible thought: What if they figured out how to turn lead into gold? That would explain a whole lot.!
Its possible but extremely expensive as it uses huge amounts of energy... which itself is not getting cheaper.
Mercury is easier, but still would cost way more in input than you'd get as output.
Unless someone changed the laws of physics recently.
dup
No.
All boating accidents leave PMs at the bottom, I think.
I have no debt. I bought 225 oz of silver tonight. Talk to me in 10 years and see if it was a good buy. In the mean time it's not paper from a rogue goverment that owe's 18 trillion bucks...
+1... But I think you missed out on a zero... 180 T is probably much closer to the mark. Not that it makes much of a difference at this point, just sayin.
+100...that's how many ounces I bought today. A much smaller stack than yours yet still heavy enough to make the mailman sweat.
I bet more than half the retail coin demand is met by people SELLING their coins despondantly, their dreams of silver riches dashed forever.
Place your bets, folks.
Al Huxley I bet more than half the retail coin demand is met by people SELLING their coins despondantly, their dreams of silver riches dashed forever.
---
I know quite a few people that lost their jobs and had to sell their PMs to make ends meet for a while. That will accelerate. Debts are still settled in dollars.
The majority never buys at the bottom..After more gold downside, could get a good 200-300 point rally.. Then another correction...Still looking for gold to bottom near 681....
No Fucking way. If it falls to $681......I will behead myself in the name of Allah.
$681? But, King World News said gold would be $50,000 an ounce!
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2014/4/4_$12,000_Gold,_$50,000_Gold_%26_The_Trade_Of_The_Decade.html
There is no time table on this call. Freed gold *could* be 50k. Or 100k, or 12k, I guess only some top insiders and the IMF/BIS might know or have a clue about the future price tag. Gold is money, the only money (next to silver) with no counterparty risk. The current gold price a scam, bcs there is WAY more paper gold (gold promises than cannot be fulfilled with physical metal at current prices) than physical gold. Paper gold sets the price of physical gold for now. Once the current pricing mechanism rips (and rip it will), THEN true price discovery will be made. Till then, *they* can set the price where they want it. It's time to accumulate, not throw in the towel. Good luck to all, and don't lose your heads.
There is plenty of debt. Plenty of dwindling tax base for government entitlements/transfers. Plenty of geopolitical risk. Plenty of domestic risk too, and plenty of fiscal and monetary chicanery to last a lifetime, but there is No Fear - for now. Something tells me that Fear however, is going to be making a 'Bull run'. That, and the U.S. being only a foreign policy or three arrogant blunder away from the Russians (and Chinese) making good on their irritations towards U.S. hegemony. And don't think for one moment, if the circumstances warrant, that either of these two nations will sacrifice some short term pain to rid themselves of $USD hegemony forever. They know economic pain. If you live in the U.S., and you are under age 75, you Don't know economic Pain.
I'm glad you said that. I can't for the life of me figure out the continued arrogance of the pusacatore avg american. Life has been EASY for most in this country. Yet there is no realization of it. The worst part of being a pussy is not knowing that you're a pussy. Like Mike Tyson said, "Everyone has a plan until they get punched in the mouth." I think we have a lot of commenters here that have "that plan."
Thought of another way, gold as a forward looking mechanism is pricing in the Ebola dead.
Plenty of gold cometh to market, plenty for all.
Signal a bottom? We havn't hit the bottom yet. Gold and silver have much farther to fall. And just a thought: If gold and silver was such a hot commodity these days, don't you think the price of each would be much, much higher? Or to put it another way. not falling like a rock?
Wow, what an astute analysis of the gold market.
Oakland Kicking KC ass. Copy?
This is a completely anecdotal story. Show the absolute numbers over time, not just for two months.
there were record amounts of gold/silver purchased in 2012. Uh, not a good leading indicator for gains anyway.
To be quite honest, what is a good predictor of gains? Something like buying a florida condo in 2007? I mean that shit worked in 2006...
The dollar is at a record high and the best it can slap gold down is $1200 or so . . . .
Nowhere near record high that was 160 now only 86
Dollar at 7 year high. Gold 7 years ago $750. Enough said.
Sir Thomas Gresham would be VERY pleased with the recent price action in the metals.
Playing the waiting game at the moment to see if prices break down any further and take out the lows.
Platinum is starting to look interesting measured against the 2008 decline.
yes, comex states it can settle in fiat, but legally do they have to state their out of metals, or can they keep buying metals with fiat, and settle in fiat?
yes, i know i hear you laughing, legally, is out of place in a pm comment.
i think they start settling in fiat, switerland, and germany will have some very edgy citizens.
i tell my skidish wife, we're in our 60's, if or parents would've thrown thier loose change of pre 1964 coins into a couple of 55 gal. barrels, she'd be happy.