In the year of Covid, despite the lockdowns, shutdowns, and delays in receiving Gold planchets, the U.S. Mint produced 455% more Gold Coins than in the prior year!
Silver demand for American Silver coins was up 100%. That’s the kind of demand pressure put on the supply of Gold and Silver in 2020.
In response to the total worldwide demand for all forms of the precious metal, the Gold price rose 24.6% in 2020.
The U.S. Mint sold 884,000 ounces of gold in the four sizes of American Eagle Gold Coins. Sales of Gold coins reached their highest level since 2016.
Silver Demand Doubled in 2020
The U.S. Mint also sold 30 million ounces of silver, more than double 2019 sales. Silver investors enjoyed 47.4% returns in 2020.
Having bought and sold over a billion dollars of Gold, Silver, and Rare Coins over the years, we can tell you who’s doing the buying and hoarding of American Eagles— it’s individual investors seeking safety, security, and safe havens in precious metals.
We fully expect the Covid 19 financial stress to continue in 2021. We believe many U.S. Stocks, especially the most popular high tech Stocks, are very much overpriced today. Any sell-off could trigger another wave of selling, hopefully not as severe as the sudden March Coronavirus Crash.
Act prudently and trade carefully in these volatile times.
Experts Positive on Gold in 2021
Going forward, here are a few thoughts on Gold shared by third parties.
“Gold remains a good hedge against ultraloose monetary policies worldwide and possible higher inflation.” —Barron’s Jan 2, 2021
“A global economy that’s in recovery mode from a COVID-19-induced slowdown, a weakening U.S. dollar, unprecedented monetary stimulus and supply constraints is providing a favorable backdrop for everything from oil to copper to gold.” —Fox Business
“We now look for Gold in the first year of the Third Decade to reach $2,401 for a gain of +26%.” —FXEmpire.Com