Home » Silver

Is The Demand For Gold Increasing?

6 December 2009 23 views No CommentEmail This Post Email This Post

I just got an email from a company that I have previously bought gold coins from. They said that the US Mint has temporarily suspended the sale of 1 ounce Gold Eagles but the 1/10th ounce gold Eagles would actually resume. For the first time in a year, 345,000 coins would be made available to “authorized purchasers” who can resell them to dealers and directly to the public.

The mint officially issued a statement last week saying that “continued strong demand for this product” has depleted the inventory. Maybe its just depleted their desire to sell more at this time because they think the price might go even higher!

For more evidence of a growing demand for gold, New York auction house Stack’s reported that the October sales of gold bullion coins rose 142% from the previous year.

Related Posts
  • Gold Closes At Record High Gold closed at a new record today. The price for gold went as high as $1,342/ounce before settling at $1,340. Along with gold, silver has also been making 30 year highs. It closed the day at $22.81/ounce.  Along with other commodities like copper and tin, these precious metals have been......
  • Not Owning Gold Is A Sign Of Insanity According to Robin Griffiths, technical strategist at Cazenove Capital, “I think not owning gold is a form of insanity. It may even show unhealthy masochistic tendencies which might need medical attention.” Check the CNBC video below: I think the euro crisis might trigger a flight to US dollars and treasuries......
  • china-gold-1-ounce-pandaWhy $1000 Gold Is Here To Stay Yesterday, the price of gold hit $1005/oz before retreating to just under the $1000 level. The question is whether gold will stay at this level or drop back down again like it did last year. There's a good chance that this time the $1000 level might stick. The difference......
  • Richard Russell On Gold's New Record Unless you're living under a rock, you've heard about the price of gold hitting a new record almost $1,200 per ounce.  A lot of people think gold is overvalued and is currently in a bubble. If anything, with the US government bailout taking on new debt at a record pace,......
  • 10gm-silver-bar-credit-suisseRichard Russell on Silver In the last post, I mentioned Richard Russell's views on gold.  Recently, he declared that he was extremely bullish on silver as well: January 6, 2010. They call it "the poor man's gold." But don't turn your nose up at silver. The dollar was originally defined in terms of silver.......
Related Websites
  • Demand For Gold Tops $100 Billion! Looks like I'm not alone in my enthusiasm for gold. For the first time ever, annual demand for gold exceeded $100 billion! According to the WSJ: Demand for gold surpassed $100 billion last year for the first time ever, amid increased industrial and jewelry consumption and investors' purchase of the......
  • 10 Reasons Why Gold Should Break $1000 This Year Today's guest post comes from Bruce, CEO of Superior Gold and includes a free silver coin! For many years I was a successful real estate investor. However, I realized that the market was getting very speculative and decided to get out while the going was good. In 2003, I sold......
  • A Spanish Coin As a kid I had a large coin collection. The coins came from all over the world. Many of them my grandfather brought home from his travels. Before I was born my grandfather was traveling to Europe on business's on a regular basis. This was in the times of propeller......
  • Exploding Money SupplyInsurance Company Buys $400 Million in Gold According to a recent report from Bloomberg, Northwestern Mutual Life Insurance Co., the third-largest U.S. life insurer, has been buying gold. This is the first time in its 152-year history that Northwestern has purchased gold. According to Northwestern CEO Edward Zore, “Gold just seems to make sense; it’s a store......
  • troyozCollecting Coins and the Troy Oz Conversion When you are bidding on gold, silver and other coins that are listed by weight, it is important for you to have an understanding of what the weight actually is. If someone is listing an item by weight and they list ounces, then what they may mean is troy ounce,......
1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)
Loading ... Loading ...

Leave your response!

Add your comment below, or trackback from your own site. You can also subscribe to these comments via RSS.

Be nice. Keep it clean. Stay on topic. No spam.

You can use these tags:
<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>

This is a Gravatar-enabled weblog. To get your own globally-recognized-avatar, please register at Gravatar.