Author: Gold News Club

NewsMaxFinance/Mike Fuljenz/6-2-2020

“For the first five months of 2020, sales of American Eagle gold coins total 335,000 Troy ounces, up 222% from the 104,000 ounces sold last year. This May, the Mint sold 11,500 ounces, down from April, but 187% above the 4,000 ounces sold in May 2019. Sales of American Eagle silver coins reached 490,000 ounces in May 2020. Although down from April and from last May, this brings the total American Silver Eagle sales for the year to 11,218,500 one-ounce coins, which is 25% more than the 8,987,000 coins sold through the same five months in 2019.”

USAGOLD note:  When reviewing these numbers, we should keep in mind that the 2019 mintages reflected record low demand at the U.S. Mint – so the impressive percentages are off a very low base. That said, demand for gold and silver bullion coins has been very strong thus far this year at USAGOLD.  While many have had trouble fielding and filling orders, it has been business as usual for us (and our clientele).

MarketWatch/Steve Goldstein/6-2-2020

“‘Aggressive policy means that the U.S. will need to consider negative interest rates and aggressive government spending, such as spending on infrastructure,’ the researchers said.”

USAGOLD note:  We’ve said it before.  To find a comparable moment in history, you would have to back to FDR’s New Deal in 1933.  What it means to the contemporary economy, the dollar and gold remains to be seen.

How to achieve a V-shaped recovery amid the COVID-19 pandemic / St. Louis Federal Reserve / Yi Wen and Brian Reinhold / 5-29-2020

Bloomberg/Alister Bull/6-3-2020

“We had a number of players in these last few months that have essentially been bailed out by the Fed: Hedge funds that were invested in cash Treasuries, and short Treasury futures,” said Dudley, noting Fed Treasury purchases helped “those entities unwind what turned out to be a bad trade.”

USAGOLD note: Haven’t heard much about moral hazard of late but the Federal Reserve, it can be said without much in the way of push back, is dishing it out in spades. It won’t be long until the old criticism that Wall Street and the Federal Reserve privatize profits and socialize losses is back in vogue. That might seem to be a rather banal comment at this stage of the game, but the socialization of Wall Street’s losses, in the end, amounts to a tax on the citizenry either in the form of direct levies on income or the more insidious process of inflation – and that’s a big deal.

Ready to include a safe haven in your portfolio plan?
DISCOVER THE USAGOLD DIFFERENCE
ORDER DESK: 1-800-869-5115 x100/orderdesk@usagold.com

ORDER GOLD & SILVER ONLINE 24-7

Bloomberg/Christopher Condon and Catarina Saraiva

“We crossed a lot of red lines that had not been crossed before,” Powell said Friday during an online event hosted by Princeton University’s Griswold Center for Economic Policy Studies. “I’m very confident that this is the situation where you do that and then you figure it out.”

USAGOLD note:  Spend now.  Pay later.  In the form of monetary policy, that is …… Assuming, of course, we find our way out of the Deep Pandemic Woods.

Repost from 6-1-2020