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

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.

 

 

Thanks to Goldmoney from www.goldmoney.com
Companies Mentionned : Metals X |
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
Latest comment posted for this article
Be the first to comment
Add your comment
Top articles
Latest Comments
The U.S. Continues To Import Rec...
14 FebGypsy-1
Steve, you seem to have a grasp on Silver Reality here. I'm impressed. With over 100 claims on each ounce of GOLD being sold in the Paper Market,...
Gold Surges Another 7% This Week...
13 FebS W.
Buy the dip in gold?? Better to buy the selloff in Oil.
Gold Surges Another 7% This Week...
12 Febovertheedge
"Buyers should be getting into position to buy on the next dip." Gold is up something like 16% so far this year. Should'a bought when it wa...
Here We Go Again: Banks Are Impl...
12 Febsonora69
What is going to happen NEXT Monday? The Shanghai markets are closed all this week for the Lunar New Year. Monday morning ( or Sunday night U.S. t...
First Report since April, 2014
05 FebAndy_K1
Jason, One of your articles written way back is one of the reasons I started paying attention to silver and shortly thereafter started to ...
Something has Changed in Gold St...
06 Febneville
No nothing strange has happened in GOLD stocks....absolutely nothing.....The fact of the matter is that you byrne have been playing the man and...
The Revisionist Theory and Histo...
05 Febovertheedge
"The key is in the hand of the U.S. government. It is the same key that was used to lockthe U.S. Mint to silver in 1873, and to gold sixty years la...
First Report since April, 2014
05 FebS W.1
Here I was just 2 days ago thinking whatever happened to that evangelical silver guy. Low and behold up he springs, like some spirit from the g...
Most commented articlesFavoritesMore...
World PM Newsflow
ALL
GOLD
SILVER
PGM & DIAMONDS
OIL & GAS
OTHER METALS
Mining Company News
Lara Expl.(Cu-Zn-Au)LRA.V
Revised Resource Estimate Report Filed for Maravaia Copper Gold Deposit
CA$ 0.34+1.49%Trend Power :
Corporate news
Black HillsBKH
Black Hills reports 4Q loss
US$ 51.64-2.75%Trend Power :
Corporate news
Kinder Morgan(Oil)KMP
Midstream Companies Were above the 20-Day Moving Averages
US$ 102.03+1.98%Trend Power :
Corporate news
Kinder Morgan(Oil)KMP
Midstream Companies Were above the 20-Day Moving Averages
US$ 102.03+1.98%Trend Power :
Corporate news
Devon Energy(Ngas-Oil)DVN
Gasoline Inventories Rose Last Week despite Fall in Production
US$ 21.69+2.07%Trend Power :
Corporate news
United States Steel(Fe-Sn)X
U.S. Steel (X) States Ratification of Labor Agreements
US$ 7.40+8.35%Trend Power :
Corporate news
Black HillsBKH
4:34 pm Black Hills Corp beats by $0.04, misses on revs; guides FY16 EPS below consensus
US$ 51.64-2.75%Trend Power :
Corporate news
Black HillsBKH
Black Hills Corp. Reports 2015 Fourth Quarter and Full Year Results
US$ 51.64-2.75%Trend Power :
Corporate news
Transcanada PipelinesTRP.TO
TransCanada to Sign Substantial Agreement to Benefit Québec Economy
CA$ 48.65+0.16%Trend Power :
Corporate news
Devon Energy(Ngas-Oil)DVN
4Q15 Crude Oil Prices: Fallout for the Energy Sector and SPY
US$ 21.69+2.07%Trend Power :
Corporate news
Comments closed