With gold prices at a one-month low, is this a buying opportunity before the yellow metal takes off even higher? Gold (and silver!) buying that’s on the rise in the U.S.
by Sean Brodrick:
"... While money supply growth flattened and then declined in the earlier part of this year, it is now picking up again. If recent history repeats itself, that should be bullish for gold.
"The official inflation rate is 1.6%. That’s less than the Fed’s original target rate of 2%. So, I think this increase in money supply that we can see on the chart is just the start. In other words, the Fed has plenty of room to keep printing.
"Many investors are already betting that inflation is around the corner, or at least that the Fiscal Cliff could plunge us into financial uncertainty. And guess what they’re buying to protect themselves?
"Silver, Gold American Eagle Sales Soaring!
"November and December are historically strong months for gold sales — but January and February aren’t bad, either.
"The U.S. Mint recently reported that sales of Gold Eagle coins this November were TRIPLE the sales of a year earlier. Investors scooped up 131,000 ounces of American Eagles from the U.S. Mint in November. That marked the strongest November since 1998. ..."