Although in recent months the US dollar has been strong and gold weak, this is a very short-term perspective. In the long run, gold far outperforms, the Federal Reserve managed dollar.
Sales of American Eagle silver coins by the U.S. Mint jumped 40 percent in October to the highest in 21 months, defying a slump in New York futures to the lowest in more than four years.
Sales surged to 5.79 million ounces, the most since January 2013, the month that set an all-time high at 7.5 million. Today, sales jumped 33 percent in one of the busiest times this year, Tom Jurkowsky, a spokesman at the Washington-based mint, said in an interview. Last month’s total was 4.14 million.
Silver and gold futures plunged today to the lowest since 2010 as the dollar rose to a four-year high against a basket of 10 currencies and equities climbed to a record close. The Federal Reserve is weighing the timing of interest-rate increases as other central banks add to stimulus to bolster their economies.
“We saw demand surge over the past two days,” Michael Kramer, the president of New York-based MTB Inc., a dealer authorized to purchase coins directly from the mint, said in a telephone interview. “Business was almost triple than what it has been over the past few months.”
U.S. Mint Silver-Coin Sales Jump to 21-Month High
ReplyDeleteSales of American Eagle silver coins by the U.S. Mint jumped 40 percent in October to the highest in 21 months, defying a slump in New York futures to the lowest in more than four years.
Sales surged to 5.79 million ounces, the most since January 2013, the month that set an all-time high at 7.5 million. Today, sales jumped 33 percent in one of the busiest times this year, Tom Jurkowsky, a spokesman at the Washington-based mint, said in an interview. Last month’s total was 4.14 million.
Silver and gold futures plunged today to the lowest since 2010 as the dollar rose to a four-year high against a basket of 10 currencies and equities climbed to a record close. The Federal Reserve is weighing the timing of interest-rate increases as other central banks add to stimulus to bolster their economies.
“We saw demand surge over the past two days,” Michael Kramer, the president of New York-based MTB Inc., a dealer authorized to purchase coins directly from the mint, said in a telephone interview. “Business was almost triple than what it has been over the past few months.”
http://www.bloomberg.com/news/2014-10-31/u-s-mint-silver-coin-sales-jump-to-21-month-high.html
So QE. Is over. Is money printing over? Or does it continue through open market operations to keep i at 0 and deficit spending?
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