Gold prices are steady in early a.m. trading Thursday as demand for physical gold and silver grows. Gold last reported a.m. is $1124.80 and silver is $14.72. Both metals are available below production costs.
Global stock markets continue showing signs of a slowdown on Wednesday following Tuesday’s sell-off. China’s Shanghai stock index closed down 0.2% Wednesday, even as watch groups are accusing the Chinese government of intervening and buying shares to prop up its stock market. China’s markets are closed Thursday and Friday for a national holiday. Other Asian and European stock indexes were weaker Wednesday. Japan’s Nikkei index was down 0.4% on the day.
The Standard & Poor’s 500 Index began September badly with its third-biggest loss of 2015 as the sharp falls that erased $5.7 trillion from the value of shares globally in August continued.
According to the U.S. Mint, sales of the Gold American Eagle amounted to 101,500 ounces last month, down 40% from the 170,000 ounces sold in July. However, year-over-year, coin sales rose 306% when compared to the 25,000 ounces sold in August 2014. In August, gold prices rose around 4%, with December gold futures contracts hitting a six-week high of $1,169.8 on August 24.
American Silver Eagles remain on a record annual pace despite sales restrictions that went in place after they temporarily sold out in July. Their monthly total was the third highest of the year, right behind January and July.
Gold and silver are also available for your IRA. It’s a great time to begin protecting our assets with both gold and silver, available below production costs. We don’t think twice about insuring our homes, our retirement accounts deserve the same consideration.
For individuals considering silver, we suggest the Australian Silver Funnel Spider and the Silver Britannia 1 oz. coins. These items are in stock and ready to ship. Call 1-800-577-3195 Ext.1 to speak with a sales consultant.
Gold Goliath is not your typical gold dealer.