Saturday, February 01, 2014

U.S. Mint Gold-Coin Sales Jump 63% in January; Silver Triples TNR.v, MUX, GLD, GDX, SLV


  How January goes, so the year does - we will see whether this year will prove it to be right again, but so far general equity markets are down in January and Gold, Silver and Miners are strongly up for the month. It is very important to see the demand for physical Gold and Silver is picking up not only in China, but in US as well. Similar reports are coming now from Mints all over the world.

Infographic: Which Gold Miners Hold The Most Supply (And Who Must Replenish Through M&A) TNR.v, MUX, GLD, GDX

ZeroHedge presents Gold Miners Sector and Gold supply chain as we are searching for the answer: where the Gold will come from in the future? A lot of miners are at the break-even levels with this level of Gold price and are cutting back on new project development and exploration. Juniors are cut off from the capital markets and only the strongest will survive. With record amount of Gold flowing from West to the East and China now being the top consumer of Gold we have the almost perfect set up for the much higher Gold prices.
  Junior miners with the best stories can represent the life time buying opportunity in these markets. Goldcorp hostile bid for Osisko is the very good indication of the major bottom in the market.

Rob McEwen: Will Gold Soar on the Dow Drop? MUX, TNR.v, GDX, GLD, SLV

 "Rob McEwen is in demand now about his views on Gold with equity bubble being challenged last few days. Market manipulations can not be run forever and reality will be settling in at some point. This time can be very close now with Durable Goods report out at  - 4.3% (!) in December vs 2.6% in November. Last Jobs Number disaster can be not so "out of range' now as the bubble Media would like us all to think. Gold is at the very important juncture now and decisive move above $1270 will create the short covering fireworks."



Sales of gold coins by the U.S. Mint rose 63 percent in January to the highest since April as futures rebounded.
The volume climbed to 91,500 ounces from 56,000 ounces in December, while sales of silver coins almost tripled to 4.78 million ounces, the highest in a year, mint data showed yesterday.
In January, gold futures rose 3.1 percent, snapping a four-month slump, as a rout in emerging-market currencies increased demand for the metal as a haven. Mints from the U.S., the world’s biggest, to Australia boosted sales with Austria’s Muenze Oesterreich AG operation running 24 hours a day to meet a surge in demand.
“Any kind of uncertainty attracts people to gold,” Scott Carter, the chief executive officer of Los Angeles-based Lear Capital, said in a telephone interview. “The long-term buyers accumulate gold every time there is a drop.”
Gold futures for April delivery fell 0.2 percent to $1,239.80 an ounce yesterday on the Comex in New York. On Dec. 31, the price touched a six-month low of $1,181.40, spurring demand for coins, bars and jewelry.
In 2013, the metal tumbled 28 percent, the first annual loss since 2000. A U.S. equity rally to a record and muted inflation eroded the metal’s appeal as an alternative investment.
Sales of gold coins fell 39 percent from a year earlier, and silver dropped 36 percent.
To contact the reporter on this story: Debarati Roy in New York"

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