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U.S. Mint Gold Eagles See Sales Surge, Silver at Record
U.S. Mint Gold Eagles See Sales Surge, Silver at Record
“The U.S. Mint's sales of American Eagle coins surged in November, with gold nearly tripling month-over-month and silver already reaching a new annual record as bullion prices fell to multi-year lows” reported Reuters.
The mint sold 97,000 ounces of American Eagle gold coins in November, up 185 percent from October and 62 percent higher from a year ago, after selling out of most of the 2015-dated coins as falling bullion prices attracted buyers.
Strong demand came as spot gold XAU= prices fell around 7 percent to the lowest in nearly six years. This was the gold market's biggest monthly drop in 2-1/2 years as traders and investors widely anticipated that the U.S. Federal Reserve will raise interest rates at its next meeting in mid-December.
Higher interest rates raise the cost of holding non-yielding gold.
Toward the end of this month, the mint said it had sold out of all remaining 0.1-ounce, 0.25-ounce and 1-ounce American Eagle gold bullion coins dated 2015 and would not be making any more for the calendar year.
Demand for American Eagle silver coins has also been strong, with year-to-date sales already reaching an annual record at 44.67 million ounces, breaking the full-year record of 44 million ounces in 2014.
Prudent bullion buyers continue to accumulate gold and silver bullion coins and bars on price weakness.
DAILY PRICES
Today’s Gold Prices: USD 1069.25, EUR 1009.25 and GBP 708.55 per ounce.
Yesterday’s Gold Prices: USD 1055.65, EUR 998.20 and GBP 703.05 per ounce.
(LBMA AM)
Gold in EUR - 1 Year
Gold closed at $1065.00 yesterday, down by $6.40. Silver fell by a cent to close at $14.09. Platinum lost again, down by $5 to $828.
IMPORTANT NEWS
Gold rallies 1 percent on short covering, drop in dollar – Reuters
U.S. Mint American Eagle gold coin sales surge, silver at record – Reuters
U.S. platinum jewelry imports surge in Q3; gold, silver also up – Reuters
China boosts gold reserves by nearly 14 tonnes in October – Reuters
Gold suffers biggest monthly percentage drop since 2013 – MarketWatch
IMPORTANT ANALYSIS
Elite funds prepare for reflation and a bloodbath for bonds – The Telegraph
Another “Minsky moment” and financial crisis likely on way – Reuters
Comex Conundrum – Goldseek
What’s With All The Superweapons? – Dollarcollapse.com
Debt Debacle In The Oil Patch—-The Big Collapse Is Coming Soon – David Stockman’ Contra Corner
Read more News & Commentary on GoldCore.com
Essential Guide to Storing Gold Offshore
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<<<--- Gold on its way to 700$$
just keep stacking bitchez
Feck the Joo world order
Or is that silver? I keep getting my collapses mixed up. Anyway, so it looks lik a cycle which we can depend on. Maybe we should save some time and lay our goods at the feet of the all-knowing banksters. Problem solved!?
Just a thought- I seem to recall that the first thing that happens when things collapse is the government declares personal holdings of gold illegal and seizes it (then gives it to their friends).
Ignore testing
Paint them all black and red and play checkers with them, and when the Feds raid your house, invite them to a game. and watch them Sneer at the Moron Homeowner
As miniscule as it is, when combined with sales of coins from other mints, it represents physical being removed from the market.
Awesome to see that demand. But when will it affect price? I get annoyed when Sprott and others harp on USmint sales, which account for but a miniscule slice of the world supply and demand. Most of the action is with the CBs and industrial users, who don't shop at the mint. Just because the plebes are buying doesn't mean that the big players can't bury the action with zeros and ones.
The scam works until it doesn't. The reserve currency status is maintained through FORCE (cf. Libya and Iraq, if you doubt the importance of the petrodollar to TPTB).
Surging demand = BEARISH! Get ready for $900 gold and $13.00 silver.
Like oil, it's going to zero - or rather, no amount of USD will be able to make a credible bid.
Any minute now.
" Buh teh Bitcoin "
Meet Victor Frankenstein's evil henchman, Igor.
AKA Coinhead.
Ah well, fuck him if he can't take a joke.
Allrightie, me fellow Hedgers, don't wait to buy the fucking dip - there ain't gonna be anything left on the shelf when that moment happens.
Shovel as many of your Federal Clownbux into tangible assets as you possibly can, before the Clownbux time line goes to zero.
May all of you find peace, good health, happiness, and prosperity in the brave new world unfolding before us.
Any minute now.
Punching 'teh' red down arrow key. PM's have been dipped so long now it quit being fun. Still buying. Thinking about buying some Edelbrock aluminum... for the Fairlane engine. My horsepower stack is too small.
Just found me a 1965 Chevy II Nova for a very good price. Actually runs and everything. All original. Putting some into a restoration and upgrades right now. Gonna take a little while but yeah, I miss the fun of having a high HP, low weight car.