A big increase in investment demand for physical gold and silver helped drive overall demand higher through the first half of the year, but Americans, by and large, sat out the big rally. In fact, Americans tended to sell their gold bars and coins.

In this episode of the Money Metals' Midweek Memo, host Mike Maharrey digs deep into H1 demand gold demand data and wonders why so many Americans continue to trade real money for devaluing paper.

Mike also discusses the job number fiasco, pointing out that the government has a long history of revising job numbers lower.