LIVE Gold Prices $  | E-Mail Subscriptions | Update GoldSeek | GoldSeek Radio 

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

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

GoldSeek.com to Launch New Website
By: GoldSeek.com

Is Gold Price Action Warning Of Imminent Monetary Collapse Part 2?
By: Hubert Moolman

Gold and Silver Are Just Getting Started
By: Frank Holmes, US Funds

Silver Makes High Wave Candle at Target – Here’s What to Expect…
By: Clive Maund

Gold Blows Through Upside Resistance - The Chase Is On
By: Avi Gilburt

U.S. Mint To Reduce Gold & Silver Eagle Production Over The Next 12-18 Months
By: Steve St. Angelo, SRSrocco Report

Gold's sharp rise throws Financial Times into an erroneous sulk
By: Chris Powell, GATA

Precious Metals Update Video: Gold's unusual strength
By: Ira Epstein

Asian Metals Market Update: July-29-2020
By: Chintan Karnani, Insignia Consultants

Gold's rise is a 'mystery' because journalism always fails to pursue it
By: Chris Powell, GATA

 
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 - 2019



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


Map

The views contained here may not represent the views of GoldSeek.com, Gold Seek LLC, its affiliates or advertisers. GoldSeek.com, Gold Seek LLC 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, Gold Seek LLC, is strictly prohibited. In no event shall GoldSeek.com, Gold Seek LLC or its affiliates be liable to any person for any decision made or action taken in reliance upon the information provided herein.