Physical demand for gold & silver coins remains
strong. For the 3 months thru June, gold coin sales are 120k oz’s (46%) higher
than for the 3 months leading up to the $1900 gold peak in 2011 (note: June
sales are estimated). Just looking at January-March data, gold coin sales are
about 65k oz’s (23%) higher than the 3 months leading to 2011 peak.
Dollar amount of gold coin sales (3 month sum), is
$100 million higher than the 2011 gold peak and, looking back, is at the highest
level since June 2010. If just looking at January-March data, sales are $80
million higher than the 3 months leading to the 2011 peak.
April data for China retail buying of gold, silver
& jewelry show record sales. Even if jewelry accounts for 40% of sales,
that leaves $3 billion of gold & silver sales for the month...which is more
than US Mint gold & silver coin sales for the past 12 months...."
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