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U.S. Mint Gold Eagles See Sales Surge, Silver at Record


 -- Published: Tuesday, 1 December 2015 | Print  | Disqus 

“The U.S. Mint’s sales of American Eagle coins surged in November, with gold nearly tripling month-over-month and silver already reaching a new annual record as bullion prices fell to multi-year lows” reported Reuters.

GoldCore: US Mint Gold Coin Sales

The mint sold 97,000 ounces of American Eagle gold coins in November, up 185 percent from October and 62 percent higher from a year ago, after selling out of most of the 2015-dated coins as falling bullion prices attracted buyers.

Strong demand came as spot gold XAU= prices fell around 7 percent to the lowest in nearly six years. This was the gold market’s biggest monthly drop in 2-1/2 years as traders and investors widely anticipated that the U.S. Federal Reserve will raise interest rates at its next meeting in mid-December.

Higher interest rates raise the cost of holding non-yielding gold.

Toward the end of this month, the mint said it had sold out of all remaining 0.1-ounce, 0.25-ounce and 1-ounce American Eagle gold bullion coins dated 2015 and would not be making any more for the calendar year.

Demand for American Eagle silver coins has also been strong, with year-to-date sales already reaching an annual record at 44.67 million ounces, breaking the full-year record of 44 million ounces in 2014.

Prudent bullion buyers continue to accumulate gold and silver bullion coins and bars on price weakness.

DAILY PRICES
Today’s Gold Prices: USD 1069.25, EUR 1009.25 and GBP 708.55 per ounce.
Yesterday’s Gold Prices: USD 1055.65, EUR 998.20 and GBP 703.05 per ounce.
(LBMA AM)

GoldCore: Gold in Eur - 1 Year

Gold in EUR – 1 Year

Gold closed at $1065.00 yesterday, down by $6.40. Silver fell by a cent to close at $14.09. Platinum lost again, down by $5 to $828.

Mark O'Byrne

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 -- Published: Tuesday, 1 December 2015 | E-Mail  | Print  | Source: GoldSeek.com

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