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It’s Monday and welcome back to the SilverTowne Vault Cast. I am your host Shawn Ozbun.
Today I have a few short articles to cover with you today and one that aggravated me a bit. You all know how I like to vent a little on this show when I see something that’s taking a shot at precious metals, especially when its not true.
Before I get into all of that, let’s have a look at today’s precious metals pricing.
Gold – $1432.90 Down $ 0.00
Silver – $23.72 Down $0.14
Platinum- $1480.00 Down $10.00
Palladium- $702.00 Down $1.50
2013 American Eagle Bullion Coins Skyrocket in April Sales
United State Mint sales of bullion coins soared in April, a standout for a month that tends to be historically slower for the 27-year-old American Eagle gold and silver coin series. Demand for physical bullion surged last month as gold and silver prices plummeted. Sales of both U.S. Mint 22-karat gold coins and 99.9% pure silver coins hit an all-time high for the month of April, and they were sharply higher than in March and from the same time last year. Read More...
Why the Stock Market is Actually Nowhere Near an All-Time High
Yes, the Standard & Poor's 500 index set another nominal record today (Tuesday) with a close of 1,625.96. But that doesn't account for inflation. If you apply Yale Professor Robert Shiller's CAPE ratio, the S&P 500's all-time high was somewhere north of 2,000 back in the year 2000 - some 24% below today's record close. While that might sound like great news for Wall Street's bulls, Shiller's data - which has proven strikingly accurate at predicting long-term market trends - isn't nearly so optimistic about where the markets are headed over the next decade. Read More...
Physical demand for gold is on the rise, but so is silver’s
By now, anyone who tracks the precious-metals market knows that physical demand for gold has jumped in the wake of the plunge in gold prices last month, but physical demand for silver has shown an impressive increase as well — just as the U.S. Mint gets ready to start selling its latest five-ounce silver bullion coin on Monday.
Year to date, the U.S. Mint has sold more than 19 million one-ounce American Eagle silver bullion coins. For the four months ended in May last year, they sold about 14.5 million.
“When large price movements occur that spur a rapid increase in physical buying — such as was triggered by the recent 10-15% dip in gold and silver prices — physical silver supplies become more difficult to obtain than physical gold as there is less above ground supply of physical silver than there is of physical gold,” said Blanchard. “This has caused more scarcity of silver bullion than gold bullion in the physical spot market.” Read More...
US Mint limits its silver coin sales
As investors start to realize hoarding precious metals isn't such a great play anymore and consumers start flocking to whatever shiny cast-offs they can find, the U.S. Mint is putting the plug in its piggy bank.
After running out of 0.1-ounce gold bullion coins last month, the Mint is now limiting dealers' purchases of its 5-ounce "America the Beautiful" silver bullion coins when they go on sale next week. It just tightens the squeeze the Mint put on coin sales after gold plunged to a two-year low and investors sold off their silver holdings last month.
When the coin becomes available for sale on May 13, the Mint will distribute half of its inventory equally among its authorized dealers, and the other half based on each dealer's volume of "America the Beautiful" coin sales in the past two years, it said on Wednesday.
The U.S. Mint is keeping its own stingy allocation process in place until it can boost delivery and meet demand. The Mint had actually been doling out more silver coins in recent months after suspending sales late last year. But with prices still unstable and the consumer market gobbling up all the gold and silver it can find, the Mint seems bent on preventing heightened interest from becoming a full-on run on its supplies. Read More...
For the best source for acquiring gold and silver please contact Silvertowne at 1-877-477- coin, that’s 1-877-477-2646 or you can visit us at www.silvertowne.com. Silvertowne has been a trusted precious metals and numismatics dealer since 1949.
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[Disclaimer] Shawn Ozbun is not a licensed financial adviser, there is risk associated with all investment including gold and silver. You should seek advise from a licensed financial expert before making a purchase.
