US gold and silver coin sales jump in August [arabianmoney]


Nervous US investors are increasingly swapping cash for gold and silver coins as fears about inflation rise as the Federal Reserve remains committed to printing more and more paper money.

Sales from the US Mint of American Eagle gold coins rose 28 per cent in August to 39,000 ounces, the third gain in four months. Sales of silver coins increased to 2.87 million ounces from 2.28 million ounces in July.

QE3 promise

Investors have clearly been buying in anticipation of QE3 from Ben Bernanke. They did not get it last week but the noises from the Fed chairman about future policy were very reassuring and the promise of QE3 may prove as good as the real thing for precious metals.

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