Gold Rush In Effect: Gold Prices Could Soar Past $3,000 An Ounce

A Gold Rush Is Happening…and It Could Send Gold Prices Soaring

At $1,950 an ounce, gold prices look cheap.

The mainstream media might be busy covering technology stocks, but know this: there’s a gold rush happening.

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Skyrocketing demand could cause gold prices to surge.

Look at the U.S. Mint sales for example. They are witnessing robust demand.

Consider this: in the first eight months of 2020, between January and August, the mint sold 589,500 ounces of gold in American Eagle coins. (Source: “Bullion Sales,” U.S. Mint, last accessed September 3, 2020.)

In the entire year of 2019, the U.S. Mint sold just 152,000 ounces of gold in the form of American Eagle coins.

The year isn’t even done yet and the U.S. Mint has already sold close to four times the amount it sold in all of 2019!

Mind you: it’s not just the U.S. Mint seeing immense gold sales. Look up any major mint in the world and you’ll see they are experiencing increased demand.

At Australia’s Perth Mint for instance, between January and July of 2020, gold sales jumped over 189% year-over-year! (Source: “Perth Mint Gold Bullion Sales Jump in July,” CoinNews.net, August 27, 2020.)

Here’s the thing: mint sales are just part of the equation…

ETF Demand Surges, Central Banks Want to Buy More Gold

Look at gold-backed exchange traded funds (ETFs).

In the second quarter of 2020, they witnessed inflows of 434.1 tonnes of gold. (Source: “Gold Demand Trends Q2 2020,” World Gold Council, July 30, 2020.)

In the same period a year ago, ETFs had inflows of 76.1 tonnes of gold. So, their demand has jumped 470% year-over-year.

If this isn’t enough to prove there’s a gold rush happening, look at central banks. They have been buying gold since 2010, and it doesn’t look like they are stopping.

Even with the COVID-19 pandemic and all sorts of economic slowdown, central banks purchased 233 tonnes of gold in the first half of 2020.

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Disclaimer: There is no magic formula to getting rich. Success in investment vehicles with the best prospects for price appreciation can only be achieved through proper and rigorous research and ...

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