Something changed in the silver market in May as U.S. Silver Eagle sales have surged compared to the previous month. This is quite interesting as precious metals sales and sentiment have declined in the West, especially in the United States, ever since Donald Trump was elected President.
Many precious metals investors thought that if Trump was elected, it would have been very positive for the gold and silver market. Unfortunately, it seems as if the opposite was (is) the case. Not only has demand for precious metals declined considerably in 2017 versus last year, so has sales of guns, ammo and survival food-supplies. I gather many of those who follow the alternative media believe Trump is actually going to make America Great Again. So, why protect oneself from a collapse?
This is a very bad assumption… as nothing has changed with Trump in the White House. Furthermore, many analysts are saying that what Trump is doing could actually speed up the collapse of the U.S. economy and financial system.
Regardless, the fundamentals in the U.S. economy continue to disintegrate. We are seeing economic bubble indicators reach or surpass what took place in 2007, before the bloodbath hit the U.S. Housing and Financial Markets. However, there is one additional negative factor that wasn’t a problem in 2007 that is now a BLINKING RED LIGHT.
What is this new lousy fundamental? It’s the U.S. and Global Oil Industry. Back in 2007, most of the oil and gas companies were making decent cash flow and profits. Unfortunately, the situation in the Oil Sector is orders of magnitude much worse than what is was in 2007. Not only are the majority of oil and gas companies losing money, they have been also cutting their oil reserves.
This is extremely bad news for which very few Americans are aware. Thus, we are now facing an extremely negative DOUBLE-EDGE SWORD of bubble economic indicators on top of a disintegrating oil industry. Which means… the situation today is much worse than what took place back during the 2008 Global meltdown.
U.S. Silver Eagle Sales Surge In May Due To 3 Reasons
U.S. Silver Eagle sales surged 140% in May versus April… and we still have another week remaining in the month. According to the recent update by the U.S. Mint, Silver Eagle sales reached 2,005,000 so far in May compared to 835,000 in April:
After seeing this spike in Silver Eagle demand, I called up a few of my contacts in the industry and asked if they could shed some light as to why sales jumped in May. According to several sources, they stated that the huge increase in Silver Eagle sales were due to three reasons: