Is The Demand For Gold Increasing?
6 December 2009
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I just got an email from a company that I have previously bought gold coins from. They said that the US Mint has temporarily suspended the sale of 1 ounce Gold Eagles but the 1/10th ounce gold Eagles would actually resume. For the first time in a year, 345,000 coins would be made available to “authorized purchasers” who can resell them to dealers and directly to the public.
The mint officially issued a statement last week saying that “continued strong demand for this product” has depleted the inventory. Maybe its just depleted their desire to sell more at this time because they think the price might go even higher!
For more evidence of a growing demand for gold, New York auction house Stack’s reported that the October sales of gold bullion coins rose 142% from the previous year.
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