Gold Sales: Demand for Coins Collapses

Lots of news in the gold world today, a mix of “good” and “bad” for gold traders.  Turkey continues to wrestle with its troubles; inflation and a sinking local currency continue to boost gold demand there. Yet in the United States, gold sales in the form of low-grade gold coins (aka bullion) remained low.  

April sales were down 25% year-to-year, the lowest April sales since 2007. Demand for silver coins rose 10% in April compared to the previous year. Investing wisdom tells us to buy when there’s blood in the streets, and while that’s not exactly the case today there is certainly a lack of interest.  

With international gold testing the 1300 USD/oz round-number support level, this seems like a good place to buy a little physical gold if you don’t have any.  Because if gold does hold here despite such low investor interest, it’s really gonna go up quick when the market suddenly decides gold is the place to be.  

I wouldn’t throw the kitchen sink at it by any means, just a touch to make sure you have some should we wake up to higher prices one day. Today’s featured article gives specifics on recent gold and silver bullion sales in the US, just in case you want more detail.

 Related: Learn Why This Billionaire Staked Everything on Gold

About the author

Mike Hammer

Mike Hammer has had a wide-ranging career, with trading and investing as a continuing theme. Mike graduated with a business degree, then worked with Macy's. After Macy's he spent a summer trading his own account, which taught him a lot about trading in general and markets in particular. Trading through the Black Monday and the Crash of 1987 showed him how most people are unprepared for upheavals in their trading. He then joined a well-known financial planning firm as a financial advisor, helping regular people understand their finances and meet their life goals.

Then came the usual story - Mike met and married the lady of his dreams. They moved to upstate New York, where he worked first for a small manufacturing consulting company, then a major university. While loving the work and the higher-education atmosphere, Mike missed the world of finance. Eventually, he signed up for stock trading coaching with the Adam Mesh Trading Group, to learn from people who understood modern markets. Within a year, Adam asked Mike to become a stock trading coach.

Since then, Mike has trained over 200 individuals, spoken at several national conventions, and is a frequent contributor to conference calls across the Adam Mesh community. Mike writes The Gold Enthusiast daily newsletter, runs the Golden Hammer trading service, and participates in the Mesh Private Portfolio. He also keeps a position in international education which keep him in touch with "the student mindset". Mike closely follows the gold, energy, and financial sectors. His motto is "Plan your trade, then trade your plan!"

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