July Gold Sales at the U.S. Mint Eclipse Entire Second Quarter Sales

Gold Sales at the U.S. Mint Head Towards Record July.

Chinese and Indian Gold Demand Spikes in July.

Newly Minted Gold Authorities Projecting Lower Prices.

Buy American Gold Eagle Coins

“Now if thou would’st, when all have given him over,
From death to life thou might’st him yet recover.”
Michael Drayton

Lately, everyone is an authority on gold, especially its price. We are treated daily to an incessant barrage of lower gold price predictions.

The bulk of the lower gold price predictions are based on the “everything is awesome” narrative that reached its nadir yesterday with a “Gold is Doomed” collection of words strewn together and assembled in the Washington Post. “Gold is Doomed” contains a pronouncement that our policy makersknow what they are doing.”, a few mentions of Paul Krugman and the obligatory “gold doesn’t pay interest or dividends” insight.

No mention is made, however, that gold doesn’t default or go bankrupt either.

Gold Demand Down 14% in the Second Quarter

The more credible lower gold predictions are based on charts or an analysis of supply and demand.

Lower gold price prognositicators point to data from GMFS showing that gold demand is at its lowest level since 2009 and was down 14% in the second quarter ended June 30, 2015 while supply was up. These predictions fail to take into account that the price of gold is often totally detached from supply/demand factors as Dr. Paul Craig Roberts and Dave Kranzler of Investment Research Dynamics discuss here.

Chinese and Indian Gold Demand Surges in July

Those making gold price predictions based on gold supply/demand dynamics based on recently released second quarter data might be interested in what has happened in the gold market since the second quarter ended and what the trend was at the end of the second quarter.

The Wall Street Journal reported last week that sales of gold in China and India – the world’s two largest gold consuming nations- were up sharply citing a 20-30% increase in China. The Wall Street Journal also noted that June gold sales at Australia’s Perth Mint rose 37% month over month and that sales in July had already past June levels and “appear to be gaining momentum”.

U.S. Mint Gold Sales

After dismal gold sales at the United States Mint during the first five months of 2015, gold sales picked up in June, rising 363% from May’s sales.

Gold sales at the United States Mint continue to surge in July and past June’s sales totals in the first two weeks.

american gold eagle sales juy 1986-2105

Sales of one ounce American Gold Eagle coins are approaching a July record.

one tenth ounce american gold eagle sales july 1986-2015 chart

Sales of one tenth ounce American Gold Eagle coins are also approaching a July record.

July month to date sales of all American Gold Eagle coins (sold in denominations of 1/10, 1/4, 1/2 and one ounce) are already more than twice June’s totals and are 24% higher than sales of all American Gold Eagle coins during April, May and June.

2015 american gold eagle sales second quarter

Through July 27, 2015, sales of American Gold Eagle coins have surpassed the entire second quarter mintage by nearly 25%.

Buy American Gold Buffalo Coins

U.S. Mint sales data source

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Royal Canadian Mint

Further Reading:

One Tenth Ounce American Gold Eagle Coin Sales Surge at the U.S. Mint

Perth Mint Sales Slide

The Canadian Mint Sells Record Amounts of one ounce Silver Maple Leaf Coins in 2013 (see page 30 of the report)

Silver Coin Demand In the United States: a Historic Perspective

Gold Suppy and Demand

Silver Supply and Demand

Smaulgld Silver Buying Guide

Smaulgld Gold Buying Guide

Gold and Silver Price Manipulation – Suspected

Gold and Silver Manipulation – Actual

Buy Gold and Silver

Austrian Mint Runs Overtime to Meet Demand

2014 Silver and Gold Predictions

The Gold Silver Ratio vs. The Silver to Gold Sales Ratio

The West Sells Paper Gold While the East Buys Physical Gold

The Price of Silver & Real Estate

Buying Physical Gold and Silver

Twelve Ways Silver is Different Than Gold

High Sales of Silver at the U.S., Canadian and Australian Mints in 2013

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