Thursday, September 7, 2017

Gold continues annual trend of investors buying big once September starts

Going back more than 20 years, the month of September is almost always a boom time for gold and it appears that 2017 is no exception.  And through just the first few days of this month, gold demand from the U.S. Mint is already 33% of the entire amount of purchases made for the month of August.

The US Mint releases sales data every Tuesday. Since Monday was a federal holiday, we have essentially coin sales on two days only (Friday and Tuesday), assuming the data includes Tuesday sales. In those two days here in early September, the mint has sold nearly 33% of the amount of 1 oz Gold Eagles it sold in the entire month of August. - Silver Doctors
A combination of geo-political events, debate over whether their might be a government shutdown due to Congress's delay in raising the debt ceiling, the falling dollar, and the auspicious trend of American investors buying on momentum versus value are just a few of the reasons for gold's resurgence in price over the past few months.


Post a Comment