Close X Cookies are necessary for the proper functioning of 24hGold.com. By continuing your navigation on our website, you are accepting the use of cookies.
To learn more about cookies ...
EnglishFrench
Gold & Silver Prices in

Surge in gold coin sales

IMG Auteur
 
Published : December 05th, 2012
293 words - Reading time : 0 - 1 minutes
( 0 vote, 0/5 )
Print article
  Article Comments Comment this article Rating All Articles  
0
Send
0
comment
Our Newsletter...

 

 

 

 

Positive manufacturing numbers out of China this morning have encouraged buying of growth assets, with commodities and stocks strengthening, alongside the euro, which has moved back above the US$1.30 mark. News that the Greek government has announced details of a 10 billion-euro bond buyback programme – scheduled to take place this Friday – as part of conditions set to receive its next allotment of financial aid has also helped the euro.

Precious metals have been flat since the start of trading today. $1,750 remains a key point of overheard resistance for gold, with support around $1,710. Silver faces selloffs on every run towards $35 – reemphasising the technical significance of this price – though appears to have decent buying support on any dips towards $33. Incremental progress (recall that not long ago, $33 was a point of overhead resistance for silver), and setting us up nicely for the next silver price surge.

Interestingly, as the chart below from the US Mint makes clear, demand for American Eagle gold coins has surged recently. More and more Americans are waking up to the serious fiscal imbalances affecting government at home and all over the developed world, as well as the serious risk that the Federal Reserve’s perpetual quantitative easing poses to the dollar.


The Fed is said to be considering an expansion of its current asset purchases ($40bn of mortgage-backed securities as month, plus $45bn of “Operation Twist” purchases). The reason? “Operation Twist relies on selling short-dated Treasuries in exchange for long-term Treasuries, but the Fed’s stock of short-term paper is dwindling, meaning that new purchases will have to be financed by more money printing.

The Fed’s next policy meeting on December 11-12 may provide some answers, and yet more support for precious metal bulls.

 

 

Data and Statistics for these countries : China | All
Gold and Silver Prices for these countries : China | All
<< Previous article
Rate : Average note :0 (0 vote)
>> Next article
Comments closed
Latest comment posted for this article
Be the first to comment
Add your comment
Top articles
MOST READ
How To Buy Gold Or Silver - Trace Mayer - Run to Gold  (10)
March 27, 1980 : Silver Thursday, or the end of the The Hunt Brothers Story - History of Silver - Playboy  (4)
The US Constitution and Money - Michael S. Rozeff - Mike S. Rozeff  (8)
The Gold Bug (Edgar Allan Poe) - Treasures and Gold Fever - Edgar Allan Poe  (13)
Most commented articles More... 
TOP RATED
The Gold Bug (Edgar Allan Poe) - Treasures and Gold Fever - Edgar Allan Poe  (13)
Discovery of Governmentium, the heaviest known element - Food for thought - Hat Trick Letter  (17)
The US Constitution and Money - Michael S. Rozeff - Mike S. Rozeff  (8)
How To Buy Gold Or Silver - Trace Mayer - Run to Gold  (10)
Most commented articles More... 
MOST COMMENTED
100 Items That Disappear First in a Disaster - Beans Bullets Bullion and Bible - 24hgold  (17)
Most commented articles More... 
Latest Comments
‘Real’ Performance Comparison
26 MarChristopherbalz
Question: In the method of figuring inflation referenced, what is the rationale for adding population growth to productivity growth? Sugge...
100 Items That Disappear First in a Disaster
23 Markevthorne
68, 69 probably not that safe - particularly if you're growing your own vegetables - keep a Maine Coon cat instead: does the job automatically.
Farage Interviews Le Pen: “Prison of the EU”
21 Marneville1
BRITANNIA RULES THE WAVES AND NOW BREXIT WAIVES THE RULES. GO FOR IT FRANCE AND RID YOURSELVES FROM THE CHAINS OF IDIOTS. NOT SIN...
How the Fed Operates — And Why It's a Problem
20 Marramasart
In a nutshell, the Fed facilitates the theft of the value of the dollar, as they can control the increase in supply which at the same time inverts ...
How the Fed Operates — And Why It's a Problem
20 Marneville1
With all due respects for outlining how the crooked american Fed works or should work. From all our research we find the following the Fed...
Sparta - Gold prohibition in a collapsing economy
18 Markevthorne
You've answered none of the authors points: your comment is flat rubbish.
America Too Broke to Fix Crumbling Infrastructure? “Bridges, Roads,...
16 MarCameron Waugh1
Just like the leaders of the Bolshevik revolution were not Russians, those formulating belligerent US foreign policy are not Americans, and they ha...
POTUS at SOTUS
16 MarDRGEORGE1
Try explaining that to my patients dying on public waiting lists or getting ripped off by exorbitant private specialist fees!
Most commented articlesFavoritesMore...
World PM Newsflow
ALL
GOLD
SILVER
PGM & DIAMONDS
OIL & GAS
OTHER METALS