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Mining Weekly reported that in July, the US Mint sold 170,000 ounces worth of American gold eagle coins. That’s the highest amount in over two years.
Mining Weekly reported that in July, the US Mint sold 170,000 ounces worth of American gold eagle coins. That’s the highest amount in over two years.
Meanwhile, Shanghai Gold Exchange withdrawals “were well up on previous months.”
As quoted in the market news:
Gold is somewhat rolling with the punches of positive US economic data while taking strength from evidence of deflation, Mitsubishi said in its Precious Metals Weekly Update, and The Wall Street Journal reported on Sunday that gold sales were regaining their sparkle in China, where the precious metal had traditionally been prized as a store of value to tide over the worst of times.
Bulk customers in mainland China procure their gold through the Shanghai Gold Exchange, so data on withdrawals provides one of the strongest indications of the nation’s demand.
