U.S. Mint SELLS OUT of Silver

As we covered at the end of last week, sales of gold and silver coins from the U.S. Mint have recently skyrocketed as a result of increased consumer demand coupled with low prices. Overall sales from the mint increased more than 100% last month, with some coins seeing an increase of more than 250% in June over the month of May. The increased demand does not seem to be waning either as the Mint reported today that they have officially sold out of 2015 American Silver Eagle coins. More coins are expected to be made available next month.
In just the past 7 days, the Mint sold a whopping 1.6 million coins, almost as much as what was sold during the entire month of July in 2014. While the mainstream financial news outlets continue to scratch their heads over the lack of a spike in gold prices amid the Greek crisis (hint: it’s because the dollar keeps getting stronger as other currencies continue to weaken), actual consumer gold and silver demand is extremely robust right now.
The global consumer demand for gold is expected to pick up sharply in the coming weeks as well while the Greek situation continues to play out and the Indian Festival and Wedding Season approaches. Some analysts are suggesting that a Grexit could motivate the Federal Reserve to delay raising interest rates this year and possibly initiate another round of Quantitative Easing.
A delay in raising rates will be good for gold long-term because a correction will eventually have to materialize, but the delay could send the price of gold lower in the short term as investors decide to continue to gamble with the ever-inflating stock market. A rate hike this year would be beneficial for gold in the short term because it will effectively pump the brakes on the U.S. economy, slowing down the markets and driving more investors to seek protection against further declines.
This time of the year is typically the best time to buy gold and silver as it almost always hits its annual bottom in late-June, early July. With the coming reconfiguration of the International Monetary Fund’s Special Drawing Rights reserve currency this October, the continued uncertainty over the future of the euro, and the increasing turmoil in Ukraine, Syria, Iraq, and Afghanistan, there could be major price shifts of the dollar on the horizon.
The dollar is very strong at the moment, which means that right now, you can get more metals for your money. That, combined with the coming uptick in seasonal demand makes it an ideal time to buy gold and silver.
If you have an IRA or 401K, you may qualify for a Gold IRA rollover. Fortress Gold Group specializes in helping people convert their individual retirement accounts into precious metals such as gold and silver. For more information about protecting your wealth with precious metals, give us a call at 1-800-777-6177 and we can walk you through the process.

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