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Gold Coin Sales Surge 306% YoY In August, Silver Sales More Than Double
DAILY PRICES
Today’s Gold Prices: USD 1140.00, EUR 1010.73 and GBP 746.46 per ounce.
Yesterday’s Gold Prices: USD 1141.90, EUR 1012.23 and GBP 744.10 per ounce.
(LBMA AM)
Silver in USD – 5 Years
Stocks in the U.S., Asia and this morning in Europe had seen a renewed rout as concerns about China’s slowing economy and the global economy badly impacts financial markets.
The Standard & Poor’s 500 Index began September badly with its third-biggest loss of 2015 as the sharp falls that erased $5.7 trillion from the value of shares globally in August continued.
Oil tumbled the most in two months after a 27% gain in the previous three days. Emerging assets plunged and a measure of the risk premium on high-yield debt jumped.
Demand for safe haven assets such as Treasuries, gold and silver remerged. Despite a month over month decline in coin sales amid volatility in the metals market, the U.S. Mint posted solid coin sales in August.
According to the latest data on the US Mint’s website, sales of the American Eagle Bullion gold coin amounted to 101,500 ounces last month, down 40% from the 170,000 ounces sold in July. However, year-over-year, coin sales rose 306% when compared to the 25,000 ounces sold in August 2014 – see the full article in Commentary here.
IMPORTANT NEWS
Gold extends rally, Chinese frailty sinks equities – The Bullion Desk
US Mint’s American Eagle Bullion Sales Rally in August – CoinNews.net
Gold at One-Week High on Weaker Equities and Dollar’s Retreat – The Wall Street Journal
After a 39% Rout, China Stocks Are Still Double Hong Kong Prices – Bloomberg
Asian shares fall for third day on global growth concerns – Reuters
IMPORTANT COMMENTARY
Gold Coin Sales Surge 306% YoY In August, Silver Sales More Than Doubled – Gold-Eagle
U.S. Gold Production Finally Hit Hard Due To Low Price – GoldSeek
Keiser Report: Stop What’s That Sound? Falling Markets! – Max Keiser
Money—How to Get It and Keep It – Casey Research
‘Death cross’ patterns spread to all corners of the stock market – MarketWatch
Read more News and Commentary
Download Essential Guide To Storing Gold Offshore
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Aaand the price goes *straight* down!
Look at this morning's chart- on Netdania it looks like the Devil's Tower from 8 to 10 AM. The volume is way up there, they were dumping paper with the typical abandon.
No regulators, no laws, no limits to the manipulation.
Every day now.
When everyone else is selling...buy.
AND THE PRICES ARE DOWN !
ENOUGH WITH THE SAVIOUR METALS HYPE !!!!!!!
Deflationary collapse in a liquidity crisis. Of course prices are down you idiot.
Buy it on sale and wait 6 months or 20 years.
I will buy treasuries,
I will collect interest and capital gains
I will avoid the HUGE transaction + holding costs of your obsolete PMs
I will keep my original investment + earn a profit
You will lose money.
Obviously you are the idiot.
I pay between 7 and 9% premium on Gold Soverigns in the UK.
Premium is a better indicator of demand.
you can but all the 100 oz silver you want for $1.60 over spot. Shipped.
Silver shortage is only in the small coin size. I think this is a US only thing.
APMEX is a big retailer. Their 10 oz products are 20 instock and 20 out of stock. The In-stock products are largely more expense and "rare" products.
100 oz products are worse - with more out of stock than in-stock.
The current shortages appear to be moving up the value chain. Inventories will eventually need to be re-stocked.
BTW A lot of draw down on CRIMEX gold and silver inventories of late. Registered gold is as low as I have ever seen it.
I like this site to look at the data.
http://troyozgold.com/precious-metals-precis/
I usually get a better deal from Provident, but APMEX has a better selection.
Quarters and dimes are back in stock after being out for weeks. The premiums are up. They cost more now than when spot silver was a dollar higher!
http://www.apmex.com/product/5200/90-silver-washington-quarters-100-face...
http://www.apmex.com/product/21202/90-silver-roosevelt-dimes-100-face-va...
$22 an oz?
I think the only reliable gold and silver demand data is anecdotal. Look at the availability of dealers and the premiums they're charging for it.
There doesn't seem to exist decent retail numbers for Gold and silver sold in the US.
We have the Mints numbers, but they limit release.
Is there a good metric for retail silver sales, bars, coins etc ?
The mint numbers are as good as you'll get since it all tends to go to retailers or large private holdings......