Update Friday 7-24- 2015: Gold and silver are in perfect position as both metals thrive in the face of monetary and political turmoil. As long as manipulators can short futures markets enticing the “herd” mentality to jump in and sell at a loss, metals prices will remain suppressed. Fortunately, this continues to create buying opportunities for those individuals who aren’t buying the anti-gold media hype. Gold last reported a.m. Friday is $1085.50 and silver is $14.57
If gold and silver are the central bankers first line of defense against turmoil or other unwanted encroachments, then wisdom tells us to follow suit. Over the past several months, JP Morgan has purchased millions of ounces of physical silver while they suppress gold and silver prices through COMEX. JP Morgan doesn’t lose in this world system.
The current gold “fire sale” couldn’t come at a better time as economies unravel and political instabilities increase. Buying below production costs while Rome burns; it can’t get much better.
Gold prices are rallying in early Thursday trading as bargain hunters cash in on discount prices. A lower U.S. dollar index is also aiding the rebound. Gold last reported a.m. is $1098.60 and silver is $14.85.
The Labor Department said first-time weekly jobless claims in the U.S. fell by 26,000 to a seasonally adjusted 255,000 during the week to Saturday, the lowest level since November 1973.
Consensus expectations compiled by various news organizations called for initial claims to be around 279,000 to 283,000. Continuing jobless claims, the number of people already receiving benefits and reported with a oneweek delay, fell by 9,000 to a seasonally adjusted 2,207,000 during the week ending July 1. The four-week moving average fell by 10,500 to 2,253,750.
The government left the prior week’s tally for initial jobless claims unrevised at 281,000.
Sunday’s calculated gold crash opened greater doors of opportunity for buyers of gold and silver. Global bullion dealers including Gold Goliath are reporting a sharp increase in sales of both metals.
The U.S. Mint reports that gold sales have jumped as the Mint sold 110,000 Gold American Eagles so far this month compared to 76,000 in June. Typically, the mainstream media is pronouncing the “death” of gold once again, but investors aren’t falling for it.
Silver however, remains the current metal of choice. Due to increased demand, the U.S. Mint ran out of Silver American Eagles earlier this month and deliveries are being delayed by 4 or more weeks. Physical silver will continue to be in short supply especially as long as it remains available below production costs.
If you’ve been considering precious metals for your investment portfolio, now is a great time to move forward as mining company losses can be your gains. It costs the average mining company $24.00 to produce 1 ounce of silver. These companies cannot continue producing silver, or gold for that matter, at a loss.
Give us a call at 1-800-577-3195 Ext.#1 for details.
Gold Goliath is not your typical gold dealer.