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US Mint Silver/Gold Sales Explodes to 500/1!
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Archive for August, 2013

US Mint Silver/Gold Sales Explodes to 500/1!

Ever since the big take-down in the price of the precious metals in April of this year, an interesting trend has taken place in the Gold & Silver Eagle market.  While demand for both coins remained strong in the first four months of the year, investors are now overwhelming purchasing more Silver Eagles — anticipating higher gains in silver than gold.

The ratio was 19.5/1 in April,  80/1 in July and so far in August it is a staggering 489/1! Over the last month, investors are overwhelming purchasing nearly 500 times as many Silver Eagles as Gold Eagles from the US Mint!

If we take a look at the chart below, we can see that sales for Gold Eagles declined from 209,500 oz in April down to only 50,500 in July.

 

Furthermore, sales really dropped off a cliff so far this month as the U.S. Mint only reported that 5,000 oz of Gold Eagles were sold.  Possibly, the U.S. mint has not updated their gold eagle sales figures this past week, but as we can see the trend is much lower.

However, Silver Eagle sales are stronger than ever.  Here we can see that after the second take down in the price of gold and silver in June, investors purchased 4,046,500 Silver Eagles in July almost surpassing April’s total of 4,087,000.

Silver Eagle sales are on track to surpass the total sales for 2012 within the next 2-3 weeks.

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Silver Explodes to The Upside!

The gold & silver rally continues as both metals are climbing again as Asia opens, with silver bursting above $22.50, and gold up over $30 off yesterday’s lows and closing in on $1370.


As it becomes increasingly obvious that the metals have bottomed at $1179 and $18, big money that has been sitting on the sidelines throughout the summer entering the market en-mass could easily ignite a short covering rally of epic proportions.


Silver explodes to the upside reaching a high of $23.32.   We expect $23.44 to be tested before the end of the week.  Look for the cartel to put up a major fight at $23.44 as a move through  could quickly result in a gap-up towards more significant resistance near $24.50-$25.

 

Bright times ahead for the precious metals! – Protect Yourself With Precious Metals – StraightSilver.com Offers The Very Best Deals on Silver! For more information or to speak with an Account Executive call us at 800-673-7872 or Visit Our Bullion Store