Tuesday, 23 November 2010

US Mint Reports Soaring November Month-To-Date Silver Coin Sales Surpass 2010 High Following Massive Rush Into Precious Metal

Is Max Keiser's attempt to put JP Morgan out of business working following the mother of all silver physical squeezes? The price of silver has been stable in the past few days, but if the US official precious metal seller is to be trusted, this will not last long. According to the US Mint, sales of 1-ounce American Eagle silver coins are headed for the strongest month since at least May, Bloomberg reports. And according to our update, the May total has not only been passed, but the November MTD total is already the highest in 2010. More details: a record 3,775,000 silver coins have been sold this month, compared with 3,636,500 in May, according to data on the Mint website.
http://www.zerohedge.com/article/us-mint-reports-soaring-november-month-date-silver-coin-sales-surpass-2010-high-following-ma

And the month of November is not finished yet. Anther week or so worth of sales and we could see the sales hit 4 million.

[Posted at the SpookyWeather blog, November 23rd, 2010.]

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