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US Mint Sells Most Physical Gold In Two Years, On Same Day Gold Price Hits Five Year Low

from Zero Hedge:

Just like in the case of silver three weeks ago, today’s gold liquidation was not due to selling of physical metal. In fact, quite the contrary: according to the US mint, so far in July the mint has sold a whopping 143,000 ounces of physical gold – the most in over two years, or since April of 2013 – even as the price of gold briefly slid to the lowest level in 5 years.

Three weeks ago, we reported that the US Mint had run out of physical silver on the same day silver plunged to its lowest price in 2015. This happened just days after the UK Royal mint announced that “during June, we experienced twice the expected demand for Sovereign bullion coins from our customers based in Greece.”

While the surge in physical demand clearly did not explain the liquidation in the price of “paper” silver, we are still hoping that the OCC writes us back with an explanation why this happened, and maybe it can clarify also just how much more silver the mint will sell before it runs out of silver in inventory again as it did 20 days ago.

Read More @ ZeroHedge.com

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