Friday, April 26, 2013

U.S. Mint Sales of Gold Coins at Three-Year High


Original source

Sales of gold coins by the U.S. Mint are heading for the highest level since December 2009 after prices in New York had the worst two-day slump in three decades.

As of yesterday, sales totaled 196,500 ounces, up from 62,000 ounces in March, data on the mint’s website show. The amount for all of December 2009 was 231,500 ounces.

Consumers from the U.S. to Australia joined shoppers fromChina and India to buy jewelry, coins and bars after futures slumped 13 percent in two days through April 15. Sales by the Perth Mint in Australia doubled and retail purchases across China tripled, the China Gold Association said. The U.S. Mint said April 23 it suspended sales of coins weighing a 10th of an ounce after demand more than doubled from a year earlier.

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