Fear Spreading In The Global Financial System Pushes Gold & Silver Eagle Sales To New Highs

Precious Metals by SRSrocco

 As I mentioned in past articles and in my recently released THE SILVER CHART REPORT, buying of Silver Eagles increased as the price of silver declined, but Gold Eagle buying tends to spike during times of financial trouble or turmoil.  Well, the chart below shows the huge increase in Gold Eagle sales compared to the same period last year:

Gold Eagle sales for the first seven months of the year, increased a staggering 50% from 296,000 oz in 2014 to 443,000 oz in 2015.  Most of the Gold Eagle buying took place in July with total sales for the month at 170,000 oz.   Thus, Gold Eagle sales in July account for nearly 40% of total sales for the year.

Now, if we look at Silver Eagle sales, they have also surpassed their record set last year.  Silver Eagle sales from January to July reached 27.3 million oz (Moz) compared to 26.1 Moz during the same period last year.  This was a surprise as sales of Silver Eagles in the first five months of 2015 (Jan-May) were down 21% compared to the same period last year.