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Tuesday, July 14th, 2020 MST

Record gold buying

In June, gold-backed ETFs recorded their seventh consecutive month of positive flows, adding 104 tons – equivalent to US $5.6 billion or 2.7% of assets under management.

This brought 1st half global net inflows to 734 tons, significantly above the highest level of annual inflows, both in tonnage terms (646 tons in 2009) and US-dollar value (US $23 billion in 2016).

To put this strength of demand into context, 1st half inflows are also significantly higher than the multi-decade record level of central bank net purchases seen in 2018 and 2019 and could absorb about 45% of global gold production for the 1st half of 2020.

See our Gold Specials Page for some really good values.

Record gold buying

In June, gold-backed ETFs recorded their seventh consecutive month of positive flows, adding 104 tons – equivalent to US $5.6 billion or 2.7% of assets under management. This brought 1st half global net inflows to 734 tons, significantly above the highest level of annual inflows, both in tonnage terms (646 tons in 2009) and US-dollar

Gold confusion

No wonder investors are apprehensive about buying gold.  Consider this headline on MarketWatch this morning: Gold struggles for direction after highest highest (sic) finish in nearly 8 years Gold is up $700 from its 2015 low of $1063.  Yet, this writer asserts that “gold struggles for direction.” With gold’s price action over the last five

Uncharted waters

Back on March 16, a report by Imperial College London forecast 2.2 million Americans would die from the coronavirus and that 81% of the U.S. population would be infected.  Consequently, Trump and his team of experts, namely Dr. Anthony Fauci and Dr. Deborah Birx, began holding daily press conferences and quickly scared the daylights out

Hedge fund advocates buying gold

Buying the dips have made a lot of stock investors money since 2009.  And today, a lot of stock investors continue to buy the dips.  However, Paul Singer’s Elliott Management says that stocks could drop further, down to half of their February highs.  Other analysts forecast the deepest economic decline since the Great Depression.

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