By Paul Ploumis 02 Sep 2015 Last updated at 04:19:19 GMT
(Kitco News) - Despite a month-over-month decline in coin sales amid volatility in the metals market, the U.S. Mint posted solid coin sales in August.
According to the latest data on the mint’s website, sales of the American Eagle Bullion gold coin amounted to 101,500 ounces last month, down 40% from the 170,000 ounces sold in July. However, year-over-year, coin sales rose 306% when compared to the 25,000 ounces sold in August 2014.
The 24k American Buffalo Bullion gold coin
experienced sales of 20,000 ounces in August, down compared to 32,000 ounces
sold last month but considerably up from 8,000 ounces sold in the same month
During August, gold prices rose almost 4%, with December gold futures contracts hitting a six-week high of $1,169.8 on August 24. Last month’s rally was a stark contrast to July when demand for physical gold was spurred as prices dropped to a six-year low at $1,085.50 an ounce.
During the same period, silver prices decline by roughly 1.39% for the month. The metal was more volatile than gold in August as December silver futures prices hit a six-year low of $13.91 and climbed up to a high of $15.77 an ounce.
The mint reported American Eagle silver one-ounce coin sales of 4.935 million ounces, more than double the 2.088 million ounces sold during the same month last year.
Courtesy: Kitco News