from Silver Doctors:
We are only 1 week into the month of August, but the US Mint has updated their August sales totals for gold and silver to indicate the Mint has sold 4,000 ounces of gold, vs. 765,000 ounces of silver month-to-date.
This is a sales ratio of an unthinkable 191.25 to 1 for silver vs. gold!
Granted this data is merely for the first week of August, but this is an unprecedented and astronomical ratio of physical silver vs. gold for the Mint. Over the past few years the ratio has typically hovered in the range of 50 to 1, which our friend Eric Sprott continually stresses is completely unsustainable!
August’s sales data is nearly 4 times the already astronomical 50:1 sales rates seen over the past 2 years!
We will continue to closely monitor the US Mint’s total silver vs. gold sales, as clearly selling 191 times as much physical silver vs. gold is unsustainable over the long term when the natural in-ground ratio is approximately 10 to 1!