“Silver Is Working Its Mojo”- Gold Goliath

Posted on :Feb 13, 2015

Gold sees gains Friday with increasing safe haven demand on less than hoped for U.S. economic numbers. Poor retail sales and rising jobless claims despite Washington rhetoric are clearly being seen as warning signs by investors. U.S. retail sales dropped 0.8 percent which is considerably lower than the predicted drop of 0.4 percent by government economists. Adding to injury the U.S. dollar fell 1.5 percent against other fiat currencies. Gold last reported a.m. is 1230.90 up $9.40 and silver is $17.39 up 55 cents.

The EU and European Central Bank are still walking on egg shells with Greece as they seek to prevent Greece from running to Russia and China. Neither side is willing to wave the white flag as all parties involved are waiting on someone to make a mistake that can be capitalized on.

Greek stocks led to a European market rally Friday on hopes that Greece and euro zone creditors are getting close to a deal that will be acceptable to both sides. The new prime minister insists that the current bailout program be scrapped and replaced with a “bridge program” that will assist the nation in remaining solvent as they consider the possibility of staying in the Euro. Currently Greece has received 240 billion euros in bailout loans and good old taxpayers are on the hook. Sound familiar?

Germany has remained opposed to any concessions since the crises began but German Chancellor Angela Merkel said “Europe is committed to finding compromises when the advantages outweigh the disadvantages.” Translated, we are owed money and we’re not going to allow Russia or China to come in for easy pick-ins.  One way or another the ECB and EU will get what’s owed them.

The U.S. Mint reports sales of the Silver American Eagle for January at a staggering 5.1 million ounces topping 4.7 million from January 2014. Compared to 51, 500 Gold American Eagles being sold in the same time period the U.S. Mint has sold 107.37 times more Silver American Eagles than Gold American Eagles. The January gold silver ratio is 75 to 1.

For the time being mining companies continue producing silver at a loss even as demand hits record highs. If it sounds to good to be true this is one time it isn’t. If you’ve been considering silver as a hedge against inflation and inflated stock markets we are witnessing the perfect opportunity.

Gold Goliath is offering special discounts on monster boxes of both the 1 oz. Silver Canadian Maple Leaf and the 1 oz. Silver American Eagle while supplies last. Call 1-800-577-3195

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