HSBC: Demand For Gold, Silver Coins Strong In October-Shanghai Metals Market

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HSBC: Demand For Gold, Silver Coins Strong In October

Industry News 05:41:12PM Nov 02, 2016 Source:kitco news

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; asykora@kitco.com

Key Words:  HSBC   gold prices    

Price

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Gold(99.99%)
Apr.22
280.3
0.8
(0.30%)
Gold(99.95%)
Apr.22
280.1
0.7
(0.23%)
#1 Silver(99.99%)
Apr.22
3514.0
3.0
(0.09%)
Silver(99.95%)
Apr.22
3499.0
3.0
(0.09%)
Silver(99.90%)
Apr.22
3484.0
3.0
(0.09%)

HSBC: Demand For Gold, Silver Coins Strong In October

Industry News 05:41:12PM Nov 02, 2016 Source:kitco news

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; asykora@kitco.com

Key Words:  HSBC   gold prices