US Mint’s Sales of Gold Coins Soar After Futures Prices Plunge

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The U.S. Mint in April has sold 153,000 ounces of American Eagle gold coins, the highest in almost three years, after futures prices started the week by plunging the most since 1980.

Sales have more than doubled from March and surged sevenfold from a year earlier, data on the Mint’s website showed. The amount for all of May 2010 was 190,000 ounce.  

This week, retail sales and jewelry demand soared in India, the world’s top gold buyer, and China, the second-biggest, after futures in New York slumped into a bear market, touching the lowest in more than two years. Coin sales also surged in Australia.

“Sales for coins have jumped this week,” Raymond Nessim, the chief executive officer of New York-based MTB Inc., a dealer authorized to purchase coins directly from the U.S. Mint, said in a telephone interview. “The price drop has definitely given a big push to sales.”

The China Gold Association said that retail sales soared on April 15 and April 16, and the All India Gems & Jewellery Trade Federation said that demand climbed to the highest this year. Sales surged from Australia’s Perth Mint, which refines almost all of the nation’s bullion, Treasurer Nigel Moffatt said. He didn’t provide precise figures.

On the Comex in New York, gold futures for June delivery rose 0.7 percent to settle at $1,392.50 an ounce Thursday. On April 16, the metal touched $1,321.50, the lowest since January 2011. The price has tumbled 17 percent this year.

“The volume of business that we’re putting through is way in excess of double what we did last week,” Moffatt said in a telephone interview. “There have been people running through the gate.”

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3 thoughts on “US Mint’s Sales of Gold Coins Soar After Futures Prices Plunge

  1. can someone answer this question? if the US govt is responsible for flooding the metals market with “paper gold & silver” to bring the value down why would they continue to sell US gold & silver coins at the lower price? what’s the upside for their effort? why is the US govt not hoarding the gold/silver?

    1. Lone In a word PANIC in 3 words PANIC THE SHEEP buuuuuuuuuuuut once again their scheming has back fired as folks just keep on buying instead of selling which they were really really reallly counting on to counter the end result of their WORTHLESS F R Ns and selling a THOUSAND TIMES AS MUCH “PAPER GOLD” AS ACTUALL EXISTS AND NOW GERMANY AND OTHER NATIONs WANT THEIR GOLD BACK BUT JUST LIKE S.S THE till is empty except for a pile of WORTHLESS I.O.Usssssssss which are being abondoned on a WORLD WIDE SCALE with newly emerging currency markets and PEACEFULLpartnerships between china and russia and iran and venezuela. You do understand that these wars are just to keep the us dollar as the WORLDS RESERVE CURRENCY,when you can PRINT “MONEY(FIAT $$$) OUT OF THIN AIR IF NO ONE catches on to the PONZI scheme you can TAKE OVER THE WORLD that was their plan but it has been FOILED by guys like henry who are getting THE TRUTH OUT. Hope this helps but you appear to have a LOT OF STUDYING TO DO the information is readily available to those with ear and eyes.

  2. Ya all know what, paper money, gold, silver, platinum , Etc etc. don`t mean shit unless you are the elite because they are the ones that control the f`n market and get those that believe in that crap. What realy means anything is bartering and if everyone bartered we would in no time see just how far all that silver and gold gets ya and the F`n elite PTB would be the ones that would be brought down to their knees, they are the ones that believe in precious metals and such – think about it and be real.. And that is that bottom line. It is only the elite that silver and gold realy means anything to. F all that money and gold ETC. The Ptb play off that and they slave people into buying into all that money and gold crap. That sh*t isn`t real life or anything that is real, it is all just false hope and promises.

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