H/t reader kevin a.
* * *
H/t reader squodgy:
“Seems mainstream media is being treated for what it is, lying, misleading false flag propagandists, and we’re not alone in dismissing them.”
And we’ve been here before.
What they are doing, by selling billions of dollars of paper gold in a second, is only done to keep the price of gold and silver artificially low.
This is the new form of ‘gold confiscation’ by TPTB, trying to keep the people away from buying one of the save havens before the collapse happens and making it cheap for themselves.
Meanwhile China and Russia are buying.
Perth Mint Gold Bar (1 kilo)
– Demand for Gold Bullion Surges – Perth Mint, and U.S. Mint Cannot Meet Demand (GoldCore, July 31, 2015):
– Perth Mint sees surge in demand and cannot keep up with demand
– “Our biggest restriction is the amount of unrefined gold we’re getting in from producers”
– Very high demand for Perth Mint coins, bars coming from Asia, U.S. and Europe
– U.S. Mint sees highest sales of gold coins in over 2 years
– U.S. Mint restrictions on silver coins due to very high demand
– Gold sentiment has moved from despondency to depression (see chart)
– Current negative sentiment despite strong demand is good contrarian indicator
Depressed prices have led to the usual market response, a surge in physical demand for coins and bars globally.
This is confirmed in conversations we have had with our refiner and mint partners in recent days. There are growing shortages of supply of small coins and bars. This is resulting in delays in receiving bullion and indeed to rising premiums.
Asian gold demand picked up this week keeping premiums robust and slightly higher in the world’s top gold buying regions.
– US Mint Sells Most Physical Gold In Two Years On Same Day Gold Price Hits Five Year Low (ZeroHedge, July 24, 2015):
Just like in the case of silver three weeks ago, today’s gold liquidation was not due to selling of physical metal. In fact, quite the contrary: according to the US mint, so far in July the mint has sold a whopping 143,000 ounces of physical gold – the most in over two years, or since April of 2013 – even as the price of gold briefly slid to the lowest level in 5 years.
In other news:
– “Global Scramble” For Silver – Coins “Hard To Get,” “Premiums Likely To Jump” (Goldcore, Nov 5, 2014)
From the article:
“And since everything else in the New Normal is now flipped on its head, it only makes sense that the continued price collapse for precious metals is, as it turns out, driven by ever greater demand!“
– US Mint Sells Out Of Silver Eagles Following “Tremendous” Demand (Zerohedge, Nov 5, 2014):
When it comes to buyers of physical assets as opposed to traders of paper representations of such assets, there is one key difference: the latter, more than anything, enjoy looking at “heatmaps”, chasing trends and jumping on momentum, the result being the most recent massive selloff in such “paper” representations of precious metals as the GLD and SLV ETFs, and various gold futures.
On the other hand, those who prefer to hold the metal in their hands, as well as others such as China whose ravenous apetite for gold over the past 4 years has been extensively covered here in the past, take every advantage of selloffs, and – inconceivably – demonstrate how Econ 101, namely supply and demand, really works, leading to ever greater demand the lower the price. Demand so high, in fact, that the underlying commodity that is being sold through paper conduits, sells out.
– U.S. Mint Temporarily Sold Out of Silver Eagles on “Tremendous Demand” (Liberty Blitzkrieg, Nov 5, 2014):
WAR IS PEACE
FREEDOM IS SLAVERY
IGNORANCE IS STRENGTH
TREMENDOUS DEMAND = PRICE COLLAPSE
Should be good for another $2 down.
The U.S. Mint said on Wednesday it has temporarily sold out of its American Eagle silver bullion coins following “tremendous” demand in the past several weeks.
– Silver – The World’s Most Undervalued Asset (ZeroHedge, April 29, 2014):
Silver dipped to $19.10/oz overnight and remains under pressure this morning . With the gold silver ratio at just over 66 ($1,290/$19.38/oz), silver remains a compelling buy at these levels.
The stealth phenomenon that is silver stackers or long term store of value buyers of silver coins and bars continues and is seen in the record levels of demand for silver eagles from the U.S. Mint.
– Physical Gold Demand Soared As Gold Price Tumbled In 2013 (ZeroHedge, Jan 3, 2014):
Sales of gold coins are booming even as the precious metal’s price is falling (and it’s not just central banks). Despite gold futures 28% drop in 2013 (its worst since 1981), the WSJ reports that demand for gold coins shot up 63% to 241.6 metric tons in the first three quarters of 2013.
Because these investors intend to hold onto their gold for years or decades, many see the recent drop as an opportunity to buy more at a cheaper price, notes on strategist, “they’re not under any pressure to get a yield or a return in a year.”
Still, the importance of gold coins has been eclipsed in recent years by the rapid growth of exchange-traded funds, some analysts say, “hedge funds tend to overpower the impact of physical gold purchases… relatively little money gets them an awful lot of market power.” Unlike hedge funds, who may leave when prices fall, it is clear that coin buyers are in for the long haul.
Sales of gold coins are booming even as the metal’s price is falling, a testament to gold’s continued appeal for small investors and collectors despite its first bear market in more than a decade.
The heightened appetite for physical gold is a rare bright spot in a market that saw hedge funds and other large investors head for the exits last year. Gold futures prices tumbled 28% in 2013, their worst performance since 1981.
But at mints and coin shops around the world, gold continued flying off the shelves.
Sales of Gold Maple Leaf coins by the Royal Canadian Mint surged 82.5% to 876,000 ounces in the first three quarters of 2013 from the same period of 2012. The Perth Mint, Australia’s national coin and bar producer, saw sales rise 41% to 754,635 ounces last year, while the U.S. Mint sold 14% more American Eagle gold coins than it did in 2012, along with a record amount of silver coins.
Because these investors intend to hold onto their gold for years or decades, many see the recent drop as an opportunity to buy more at a cheaper price, he added. “They’re not under any pressure to get a yield or a return in a year,” Mr. Melek said.
Some think the continued strength of physical gold buying will prevent prices from falling much further, as it becomes clear that a core group of investors is sticking with the market,
“It’s obvious to me that at some point our dollar will see a downturn in its value,” said Mr. McClintock, who runs a contract post office. “Gold is just a good comfort, it’s a commodity that anybody in the world knows and you don’t need to be an expert to understand.”
Still, the importance of gold coins has been eclipsed in recent years by the rapid growth of exchange-traded funds, some analysts say.
“Folks like hedge funds tend to overpower the impact of physical gold purchases,” Mr. Melek said. “Relatively little money gets them an awful lot of market power.”
Unlike hedge funds, who may leave when prices fall, many coin buyers are in for the long haul.
“Most people who buy physical gold aren’t doing it for the same reason you’d purchase a stock,” said Mike Getlin, vice president with Merit Financial, a bullion and coin dealership in Santa Monica, Calif. “They tend to have a much longer investment horizon. They tend to hold onto them forever and pride of ownership is a huge factor in that.”
– US Mint Head: Bullion Demand Still “Unprecedented” (ZeroHedge, June 5, 2013):
As every down-tick in the paper price of Gold is viewed as another death knell for the ‘global safety’ trade; a drop in stock prices is somehow seen as an ‘opportunity’ to the world’s media and status quo maintainers. However, as Reuters reports, Richard Peterson – acting director of the US Mint – explains, demand for US gold and silver bullion remains at “unprecedented” high levels almost two months after the historical sell-off. So that is what the pent-up-demand, ‘money on the sidelines’ has been waiting for? Notably, Peterson also added that, due to demand, the Mint may resume making platinum bullion coins (after stopping in 2008).
“Demand right now is unprecedented. We are buying all the coin (blanks) they can make,” Richard Peterson, acting director of the U.S. Mint, said in an interview referring to the Mint’s suppliers.
– US Mint Resumes Selling One-Tenth Ounce Gold Coins… At A 40% Premium To Spot (ZeroHedge, May 28, 2013):
When news broke a month ago that the US Mint had suspended selling one-tenth ounce gold coins, perhaps the most surprising news was that there were thousands of consumers willing to pay the exorbitant retail premium demanded by the US mint, with the resulting order deluge promptly sapping the mint’s stretched inventories. Well: we have good news – as of moments ago the US mint has once again restocked on the popular denomination (with a 20,000 production limit), and without a limit per household. The even better news: the coin will set you back just $195. This means a “tiny” 40% premium to spot. Is there indeed a massive disconnect between spot and physical as the Mint is telegraphing? Nah: must be all those shipping and wrapping costs for the fancy box the coin is put in. Oh wait, the gift box is another $5.95 per order. And no, it isn’t the shipping and handling either: that is another $4.95. In other words: the full delivery of one coin to your front door step would cost $200 per one tenth of an ounce. Oh well: we are fresh out of ideas then.
– JPMorgan Accounts For 99.3% Of The COMEX Gold Sales In The Last Three Months (ZeroHedge, April 26, 2013):
When just one firm accounts for 99.3% of the physical gold sales at the COMEX in the last three months it’s not what most of us on this side of the rainbow would consider “broad-based” selling. Of course discovering this kind of relevant information requires an internet connection, 2nd grade math and reading skills, and the desire to do a teeny-weeny bit of reporting. Sadly they’ve wandered so far down the rabbit hole that the concept of “physical demand” (i.e. people actually wanting to take possession of the stuff) is puzzling to them because the vast majority of the world’s so-called “gold-trading” takes place in the realm of make believe (which is their natural habitat). It’s all fun and games until somebody loses their metal and “somebody” has lost one hell of a lot of metal in the last 90 days… J P Morgan has fumbled ownership of 1,966,000 Troy ounces of gold since February 1. That’s 74% more gold than the US mint delivered through the US mint’s American Eagle program in all of 2012. I mention this because there’s little doubt in my mind that the US government is one of JPM’s gold “customers.” So (if I am correct) the same US government who just let the Morgue dump its gold on the COMEX floor will once again be suspending gold sales to peasants.