Advertise | Bookmark | Contact Us | E-Mail List |  | Update Page | UraniumSeek.com 

Commentary : Gold Review : Markets : News Wire : Quotes : Silver : Stocks - Main Page 

 GoldSeek.com >> News >> Story  Disclaimer 
 
Latest Headlines

India Soaks Up Physical Silver Supply
By: Craig Hemke

50 Reasons Why This Bull Market Has Longer To Run
By: Avi Gilburt

Asian Metals Market Update: July 18 2018
By: Chintan Karnani, Insignia Consultants

Gold Seeker Closing Report: Gold and Silver Fall Over 1%
By: Chris Mullen, Gold Seeker Report

Ira Epstein's Metals Video 7 17 2018
By: Ira Epstein

What’s Going On With Gold?
By: Dave Kranzler

Gold and Silver Investors’ 8 Commandments for Avoiding Rip Offs
By: Stefan Gleason

Gold: World Currency Or Ultimate Asset
By: Stewart Thomson

Jack Chan's Weekly Precious Metals Market Update
By: Jack Chan

Physical and Cryptographic Silver are Asymmetric Trades
By: David Smith

 
Search

GoldSeek Web

 
Emergency Fed Meetings Spooked Investors Into Purchasing Record Gold Eagles


 -- Published: Tuesday, 19 April 2016 | Print  | Disqus 

By Steve St. Angelo

Sales of the U.S. Mint Gold Eagles surged last week as investors were spooked by the emergency Fed meetings.  As several news sources reported last week, this was the first time both the President and Vice President “unexpectedly” met with the Fed Chairman to discuss the state of the American and global economy.

In addition, according to the news release, SuperStation95 – TWO MORE! Closed-Door, Expedited Meetings of Federal Reserve:

Many rumors were spread around the blogosphere as to why there were several emergency Fed meetings.  One such rumor is the U.S. government being force to enact martial law due to a systemic breakdown of the banking industry.  Other rumors floating around are tied to the ramifications of the U.S. Dollar and U.S. Treasury market when China launches its gold-backed Yuan tomorrow, April 19th.

Regardless, the rumors had investors spooked enough to purchase the most Gold Eagles in a week since Jan 11th.  Last week, the U.S. Mint sold 33,000 oz of Gold Eagles and 6,000 Gold Buffalos.  That’s a lot of Gold Eagles sold in a week compared to 38,500 oz sold in the entire month of March:

Gold-Eagle-Sales-April-11-15-2016

The majority of Gold Eagle sales were the 1 oz coin which totaled 29,500, followed by 1,000 oz of the 1/2 oz coin, 1,500 oz of the 1/4 oz coin and 1,000 oz of the 1/10th oz coin.  Again, these are shown in total ounces.  For example, the U.S. Mint sold a total of 10,000 of the 1/10th oz Gold Eagle coins which equals 1,000 oz.

Furthermore, the U.S. Mint continues to sell out of its weekly allocation of Silver Eagles as total sales for the year reached 17 million– 26% higher than sales during the same period last year (CoinNews.net):

Silver-Eagle-Sales-Table

It will be interesting to see what takes place after the Chinese Yuan-denominated gold benchmark starts tomorrow.  If this wasn’t going to be such a big deal, then why all the emergency Fed meetings?

The U.S. and global financial markets are in serious trouble.  Investors who haven’t taken a position in owning physical precious metals may be running out of time to do so.

Please check back for new articles and updates at the SRSrocco Report. You can also follow us at Twitter below:

SRSroccoReport Twitter Button


| Digg This Article
 -- Published: Tuesday, 19 April 2016 | E-Mail  | Print  | Source: GoldSeek.com

comments powered by Disqus



 



Increase Text SizeDecrease Text SizeE-mail Link of Current PagePrinter Friendly PageReturn to GoldSeek.com

 news.goldseek.com >> Story

E-mail Page  | Print  | Disclaimer 


© 1995 - 2018



GoldSeek.com Supports Kiva.org

© GoldSeek.com, Gold Seek LLC

The content on this site is protected by U.S. and international copyright laws and is the property of GoldSeek.com and/or the providers of the content under license. By "content" we mean any information, mode of expression, or other materials and services found on GoldSeek.com. This includes editorials, news, our writings, graphics, and any and all other features found on the site. Please contact us for any further information.

Live GoldSeek Visitor Map | Disclaimer

The views contained here may not represent the views of GoldSeek.com, its affiliates or advertisers. GoldSeek.com makes no representation, warranty or guarantee as to the accuracy or completeness of the information (including news, editorials, prices, statistics, analyses and the like) provided through its service. Any copying, reproduction and/or redistribution of any of the documents, data, content or materials contained on or within this website, without the express written consent of GoldSeek.com, is strictly prohibited. In no event shall GoldSeek.com or its affiliates be liable to any person for any decision made or action taken in reliance upon the information provided herein.