The mint sold 147,000 ounces of American Gold Eagles in varying denominations totaling 200,500 coins. That was a 67% increase from March.
So far this year, the US Mint has sold 661,500 ounces of American Eagles. For the year, gold bullion demand is up a staggering 617%. When you factor out COVID-19-related sales disruptions, bullion sales are up 400% over the 5-year average between 2015 and 2019.
A market strategist told Kitco News that the surge in demand for physical metal reflects growing investor anxiety bubbling under the surface.
Bullion sales better reflect the anxiety investors are feeling right now. When you hear economists talk about a recession, it starts to make sense why bullion sales are so strong. Gold will always be a long-term store of value.”
I don’t think it’s going to be a mild recession. I think this recession is going to be worse than the Great Recession that started following the 2008 financial crisis.”
The mainstream doesn’t seem to have picked up on this yes, but the demand for physical gold may indicate at least some people are beginning to worry.
To Read more, click here …..