by Steve St. Angelo, SRSRocco Report:
Well, it looks as if a bit of life has come back into the silver market as U.S. Silver Eagle sales jumped in August due to lower prices. While Silver Eagle sales have fallen over the past few years, if we exclude typical high January demand, sales so far in August are the highest in a year.
What is even more interesting is that Gold Eagle sales in August haven’t increased that much compared to Silver Eagles even though the gold price fell to the lowest level in more than a year-and-a-half. Actually, Gold Eagle sales this month are more than 50% less than they were last month. So, for whatever reason, Silver Eagle sales are responding more positively to the lower silver price than Gold Eagles.