Gold News

Worst August Since 2007 for US Mint Gold Coins Sales

US MINT sales of American Eagle Gold Coins rose 28% last month compared to July, while sales of similar Silver Bullion coins were up 26%, data from the Mint show. 

Last month however was the worst August for Gold Coins sales in five years.

The US Mint sold 39000 ounces of its America Eagle bullion Gold Coins – which it produces specifically for Gold Investment purposes. August's sales were down 65% compared to the same month last year, and were lowest for August since 2007, when 22000 ounces were sold.

Silver coin sales also saw a year-on-year decline, although this was less steep than that for Gold Coins. Silver American Eagle sales fell 22% to 2.87 million ounces, the lowest August figure since 2009.

August 2011 saw the Gold Price set a series of records on its way to the current all-time high of $1920 per ounce.

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