The amercan mint reports sales of 661,500 oz of american eagles during the past yr. That is up a staggering 617% over the past yr
Also on a 5 yr average sales have been up 400%
The media has not caught on to this amount of gold sales
Perhaps the media thinks higher int rates will bring inflation under control
Do you think owning some physical gold is a good investment
Wayne, I'm buying physical silver and gold. Might not be a good investment, but in my opinion at some point I will be very glad I have it. Mostly 90% silver coins because of the lower premium. Picked up 1/10 ounce gold this morning
I think gold is a pretty bad investment.
It doesn't produce anything.
There is the implied negative interest rate associated with cost of carry.
But I think it is a sensible insurance policy against financial disaster.
Hopefully, I'll never need to use my insurance and my American Eagles will be given to my grandchildren.