Gold News Today

BloombergAlana Carter/4-9-2022

“In a frank interview with The Sunday Telegraph, Mr Lewis stressed the desperation of people and worried over the consequences as households struggle to pay for the most basic necessities. ‘We need to keep people fed. We need to keep them warm. If we get this wrong right now, then we get to the point where we start to risk civil unrest. When breadwinners cannot provide, anger brews and civil unrest brews – and I do not think we are very far off,”‘he said.”

USAGOLD note: Though we see Lewis’ warning as a bit hyperbolic, particularly when you consider Britain’s normally composed national demeanor, we do sense that the public reaction to inflation could be unpredictable and problematic for the political sector. All eyes will be on the upcoming French election on this score, as it will be the first political contest in a developed economy determined under the cloud of inflation.

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Seeking Alpha/Jeremy Grantham/4-7-2022

“As a species, we must make the jump to full sustainability. Decarbonizing our economy will be spectacularly resource intensive, and all key commodities required are finite in supply. Russia’s desperate attack on Ukraine makes everything more unpredictable but for one certainty – this war will increase the pressure on raw materials in the short term. It serves as a reminder more broadly that we will have to innovate around the bottlenecks, shortages, price spikes, and climate damage that are almost certainly coming our way so that we might survive to tell the tale.”

USAGOLD note: The author of this piece is the same Jeremy Grantham who says the stock market is highly overvalued and due for a resounding crash. Though he doesn’t mention it, silver is often cited as one of the direct beneficiaries of the decarbonization he advocates.

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According to recent U.S. Mint production reports, demand for gold coins remains super strong.

Rampant global inflation, the war in Ukraine, stock market volatility, and central bank missteps have fueled retail interest.

Last week, the U.S. Mint reported sales of 426,500 ounces in gold coins during the first quarter of 2022 – up 3.5% from the first quarter of 2021 and the highest in 23 years! In fact, March sales for the U.S. Mint was its best since 1999.

Even as the government-run institution continues to be plagued by its ongoing mismanagement, it sold 155,500 ounces of various denominations of the American Eagle gold coin in March alone, up 73% from the prior month.

With this morning’s 8.5% Consumer Price Inflation (CPI) reading from the Bureau of Labor Statistics, inflation is no longer a topic confined to pundits and economists; its painful bite on Main Street has become widely acknowledged and felt.

Extremely high inflation globally, combined with war in Eastern Europe and a shaky start to the year for equities, should underpin volatility-based demand for bullion throughout the year.

Meanwhile, although the U.S. Mint’s silver coin sales remain strong, high premiums caused by production shortages at the dysfunctional government “enterprise” has put a crimp on sales as compared to early 2021.

The U.S. Mint reported silver sales of roughly 7.5 million ounces in the first quarter, a decline of 37% from the year prior.

Extraordinarily high premiums on silver American Eagles have pushed savvy investors to consider the wide array of more affordable silver options – especially silver bars and rounds along with silver coins produced by other sovereign mints.