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... US Mint gold and silver eagle sales exploded in November, coming in a 3,159,500 oz of ASE’s, the 3rd highest monthly total for 2012, and 136,500 oz of AGE’s, by far the highest monthly gold sales for the US Mint for 2012.
While silver eagle sales were strong, the story is in gold eagle sales, which roared back to life in the wake of Obama’s re-election. The silver/gold sales ratio narrowed to 23/1, after reaching such extremes as 74/1 as recently as August.
The 136,500 oz gold eagle sales total was nearly triple the October sales total of 59,000, and was up an astonishing nearly 4 fold year over year from Nov 2011, which saw 41,000 oz sold. November silver eagle sales were nearly as strong, up 2.5 fold year over year from 1,384,000 sold in November 2011.
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sa - I've been focusing on daily numbers/volume (from Apmex). It would be interesting to do some additional analysis to gauge weekly volume and see how it compares with what Mr. Haynes is reporting.
... this was a 3 day week for us because of the holiday schedule. In that 3 days we did more business than what we have done in any single week in years. The buying is monstrous in here. As an example, we had one buyer which completed a transaction for $6.8 million.
Those type of players are in here making large physical purchases of gold and silver. Eric, there’s no doubt about it, there’s fear. There is fear and there is acceptance that the West is in real trouble here. So, we are seeing unimaginable buying here of both physical gold and silver.
This is the type of buying you see when you are nearing the end a long period of digestion, and you are about ready to break out on the upside....
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