Gold Coin Sales in May Soar Over 200% Despite Slump in Gold Futures

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American Gold Eagle - Gold Coin Sales Soar Over 200%

American Gold Eagle – Gold Coin Sales Soar Over 200%

Sales information gathered by a U.S. Mint shows that a sum of 95,000 ounces of bullion were sole in May, adult some-more than 206% from 31,000 ounces sole in May 2015.

It’s a story of dual markets: bullion futures finished May with a biggest monthly decrease given Nov though earthy direct saw a poignant boost from final year.

Sales information gathered by a U.S. Mint shows that a sum of 95,000 ounces of bullion were sole in May, adult some-more than 206% from 31,000 ounces sole in May 2015.

Month-over-month sales was reduction considerable display a 24% decrease compared to a sum of 125,000 ounces sole in April. Looking during a mint’s chronological data, May is typically a start of delayed deteriorate for a market; however, 2016 bucked a trend as this was a strongest May given 2011.

Silver direct was only as considerable as sales increasing annually and month-over-month. The information showed that a U.S. Mint sole 4,489,500 ounces of china in May, adult 122% from 2,023,500 ounces sole in 2015, and adult 10.5% from 4,072,000 ounces sole in April. This is a fifth uninterrupted month a packet has seen sales of some-more than 4 million ounces; in Jan of 2016, china china sales strike roughly 6 million ounces.

George Gero, handling executive with RBC Wealth Management, pronounced that it is engaging to see a differences between a dual markets. He explained that futures markets are weaker as short-term suppositional investors tardy their bearing to bullion in a face of intensity seductiveness rate hikes. However, earthy bullion and china buyers paint long-term investors.

“Looking during a earthy markets we can see signs of long-term strength,” he said. “Coin buyers are going to be offered their earthy bullion any time soon.”

Phillip Streible, comparison marketplace strategist during RJOFutures, pronounced that he is not astounded that investors are jumping into a bullion market. Global financial doubt and unsure equity markets creates bullion and china an appealing investment, he said.

“Physical buyers only don’t have any faith in a economy and a complement and wish a store of resources they can trust,” he said.

 

 

Courtesy: Kitco

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