Tuesday November 01, 2016 10:24
SRetail gold and silver demand appears strong, says HSBC. The bank cites data on the U.S. Mint website reporting sales of 116,000 ounces of American Eagle gold coins in October, up nearly a quarter from the previous month. American Eagle silver coins did better, more than doubling to 3.8 million ounces. “This reaffirms our view that gold prices under $1,300/oz and silver under $18/oz stimulates retail coin and small bar demand, which provides support to prices,” HSBC says.
By Allen Sykora of Kitco News; email@example.com