*Russia added 700,000 ounces to its gold reserves in November bringing its 2015 purchase totals to 197.1 tons.
After seeing gold and silver prices fall throughout 2016, you might think “gold bugs” would have grown tired of losses and moved elsewhere. Instead, investors doubled down on their bets and pushed gold and silver to record sales. This can only mean one thing, wise investors have no confidence in the smoke and mirrors schemes of global stock markets.
The US Mint announced in November that it sold out of 2015 dated American Eagle 1 oz. gold bullion coins and were not going to produce more this year. Additionally, the mint ran out of the one tenth and one fourth ounce sized coins. The mint is currently offering its one half ounce American Eagle coins and the one ounce buffalo coins while supplies last.
With gold futures down 10% this year, the mint reports 801, 500 Gold American Eagle coins sold through the last quarter, up around 53% from 2014 sales.
Silver is still king as American Silver Eagle sales hit another record high of 47,000,000 by late December. We can expect physical demand to grow throughout 2016 as it appears COMEX and the LBMA will continue suppressing prices by selling precious metals that don’t exist.
Our nation is in decline across every spectrum and it seems most Americans and definitely our politicians are oblivious to this fact. It’s difficult to comprehend that at one time, even US presidents quoted scripture acknowledging our total dependence on Almighty God.
The US is without leadership, morality and hope as long as we stay on the course we chose in the 1960’s. Listen to the words of a US president when insanity wasn’t the norm. Our Founding Fathers wouldn’t recognize the nation we’ve become.
Almighty God; we make our earnest prayer that Thou wilt keep the United States in Thy holy protection, that thou wilt incline the hearts of the citizens to cultivate a spirit of subordination and obedience to government; and entertain a brotherly affection and love for one another and for their fellow citizens of the United States of America at large. And finally that Thou wilt most graciously be pleased to dispose us all to do justice, to love mercy and to demean ourselves with that charity, humility and pacific temper of mind which were the characteristics of The Divine Author of our blessed religion, and without whose example in these things we can never hope to be a happy nation. Grant our supplication, we beseech thee, through Jesus Christ Our Lord. Amen
George Washington – April 30, 1789
Gold Goliath is not your typical gold dealer.