The Phaserl


US gold coin sales are plummeting

by Frik Els,

According to figures from the US Mint sales of American Eagle gold coins – a good indicator of overall gold demand in the US – tumbled in July to 30,000 ounces.

The figure was the the second lowest this year – 21,000 ounces of sales were recorded in March – and down from 48,500 ounces in June.

The comparison with last year is even more startling.

Despite a very strong start to 2014 with 91,500 ounces sold in January, 2014 sales now total 296,000 ounces, that’s 56% below the 679,500 ounces sold during the first seven months of 2013. July 2013 sales of more than 50,000 ounces were recorded.

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1 comment to US gold coin sales are plummeting

  • Anon

    A couple of points: 1) Most of the gold in the world is owned by the “elite” (which is why I think that the rest of us – the 99.99% of humanity – should trade ONLY IN SILVER!, along with maybe copper – as both have a certain scarcity, and both are used industrially. Forget gold. If you are part of the 99.99% of humanity – don’t transact in gold. Silver is more scarce than gold, anyway, and is much more affordable, currently, as is copper. I say FORGET GOLD. 2) China is supposedly REALLY short of physical silver. I wonder what could happen to the silver price, when China starts acquiring silver ????

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