Monday, May 16, 2011

Physical gold coin sales up even with government manipulating paper markets

A new report out by the US mint shows that gold coin sales for May are on track to be the best month in a year, even with the manipulated crashing of the paper futures market.

The U.S. Mint sold 85,000 ounces of American Eagle coins since May 1 as the Standard & Poor’s GSCI Index of 24 raw materials fell 9.9 percent. The last time sales reached that level, bullion rose 21 percent in the next year. Gold will advance 17 percent to a record $1,750 an ounce by Dec. 31 and keep gaining in 2012, the median estimate in a Bloomberg survey of 31 analysts, traders and investors shows. - Bloomberg
When the markets created the paper etf's (SLV and GLD), they provided investors with a deceptive way to buy gold and silver through the paper markets with the belief they were owning real metals.  Unfortunately, gold and silver etf's are worth as much as the paper they are printed on, and good luck ever trying to claim ownership of physical metals through them.

Unlike the past, owning physical gold and silver is a global economic security.  You can take the metals anywhere in the world, and they will be recognized as money, even as the international communities begin to reject the dollar en masse.

Don't be deceived by the fall in price for gold and silver in the futures markets.  The separation from paper and physical gold has already taken place, and all one needs to do is see the prices for coins asked by private vendors such as EBAY, and public coin shops on main street.


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