July was the Mint’s strongest sales month since January of this year. Despite the pickup in sales last month, demand is still lower than the past few year, with the Mint selling a total of 155,500 ounces of gold so far this year, down 26% from 211,000 ounces sold during the same time last year.
Sales figures from the U.S. Mint show 35,000 ounces of gold in various denominations of American Eagle Gold coins, a 43% increase compared to June. Bullion sales are up 100% compared to July 2017.
Physical silver demand also picked up in July, but at a weaker pace compared to gold. The U.S. Mint said that it sold 885,000 one-ounce America Eagle silver coins, a 103% increase from June. However, compared to last year, sales are still down a whopping 62%.
It never ceases to amaze me how when an investment is getting less expensive (i.e. the market is throwing a sale) retail demand drops and when prices rise, everyone comes flooding in.
My favorite modern US Gold coin, the American Buffalo, jumped by 24,500 ounces in July soaring 276.9% from 6,500 ounces in June and surging 308.3% from the 6,000 ounces in July 2017. Year to date sales at 78,000 ounces are 8.3% higher than the 72,000 ounces moved during the same months in 2017.
I am Lord 
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