Gold and silver are recovering this week in the face of intense stock market volatility and general weakness.
At the moment, gold is up $70 this morning and is trading at $3,070, just 2 percent below its all-time high reached last Wednesday.
Silver fell more than $4 after last week's shocking tariff announcements, but recovered about $1 to trade this morning at $30.50.
As the chaos continues in the global stock and bond markets, demand for physical gold and silver in the U.S. retail market has suddenly surged to multi-year highs.
Wholesalers have seen their excess inventories liquidated over the past week, and mints are now bringing their long-dormant equipment back online to supply the markets.
Last year, at least two U.S. mints closed their doors due to lack of business. It is unknown if the new demand in recent days will continue, but we are likely to see an increase in premiums for coins, bullion and round coins.
Money Metals