June Mint & ETF numbers - update,

For the month of June both the GLD and the SLV ETF's have shown net withdrawals. As of yesterday GLD had a net withdrawal of 80,754 ounces, while the SLV suffered a loss of 12.9 million ounces.

This portends that investors are quickly losing confidence in these 'paper' precious metals financial vehicles and are calling for the physical, as they trade in their shares for the real thing.

Also for the month of June, the US Mint has reported (as of yesterday) that they have sold 61,500 gold eagles, 5,500 1 oz. 24 crt gold buffaloes and 3,402,000 silver eagles. For the month of June being one of the doldrum months, the silver eagle sales are the third highest. The above totals give the Mint's June gold/silver sales ratio of 1:55