Perth Mint Sales September 2020

September 2020 Perth Mint gold and silver sales numbers are rising. 

Perth Mint gold sales are picking up

U.S. demand for precious metals has declined

The U.S. Mint is a proxy for the demand for precious metals in the U.S.

And this U.S. demand is abysmal. It all crashed in 2016.

 

A very interesting trend though is that the ratio between silver and gold sales is rising. So more U.S. investors are starting to buy silver instead of gold. This tells me that silver is about to go up in value against gold.

U.S. Mint Sales Plunging

Houston, we have a problem. Silver sales have plunged (red chart). It will be interesting to see the demand and supply figures from the Silver Institute...

U.S. Mint gold and silver sales exploding

You know what the difference is between oil and gold?

Oil demand growth is slowing down, while gold/silver demand growth is accelerating.
Oil supply is growing, while gold/silver supply is coming down.

The best proxy is the U.S. Mint sales numbers.

Look how gold sales are spiking. We're hitting sales levels not seen since 2008.

 

Premiums are rising.

Silver on the other hand is not doing as well as evidence in the ratio silver to gold sold.