Something is brewing in the gold market as U.S. Gold Eagle sales hit a
record this month. This is a very interesting trend change as sales of
Gold Eagles were sluggish for most of the year.
Matter-a-fact, Gold Eagle sales in September are the second highest for the year.
If we look at the chart below, investors purchased 55,500 oz of Gold Eagles, more than double August sales of 25,000 oz. January usually holds the single highest sales month of the year due to high demand for the newly released official gold coin.
Not only are September Gold
Eagle sales higher than June’s 48,500 (when the price of gold hit a low
of $1,240), they are 4 times higher than sales during the same month
last year. Gold Eagle sales in September 2013 were a paltry 13,000 oz.
Furthermore, demand for Gold Eagles are even higher than July 2013 at
50,500 oz… when gold hit a low of $1,181. There is a great deal of
concern from many analysts that the broader stock markets are overdue
for a correction… maybe even a crash.
If we do see a Crash in the broader stock markets beginning in
October, investors fleeing the indices may start moving back in the
precious metals. And why not? Precious metal sentiment is at record
lows, while the stock markets are seeing signs of total EUPHORIA.
Not only have Gold Eagle sales picked up in September, so have Silver Eagles.
The U.S. Mint just updated their figures for the month and Silver Eagles sales reached 3,375,000 in September. This is the highest monthly sales figure going back until May.
Silver Eagle Sales
May = 3,988,500
June = 1,975,000
July = 2,007,500
Sept = 3,375,000
If Gold and Silver Eagle sales are higher this month, I would imagine
sales of other official coins are up considerably as well. It will be
interesting to see how the rest of the year unfolds as the margin
leverage in the NYSE is at all time HIGHS:
This chart shows a BIG ACCIDENT, just waiting to happen. Many
investors believe the precious metals will head lower along with the
broader stock markets, but I actually believe the opposite will occur as
gold and silver decouple from the indices and shoot up much higher.
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