US Mint Gold coin sales decline so far in October: Barclays
Steel News | 2012-10-29 10:28:43
The pace of gold-coin sales in the U.S. has eased, as reflected by data from the U.S. Mint. Sales are 48,500 ounces so far in October, compared to full-month sales of 68,500 in September, said Barclays Capital in a commodity snippet.
By Paul Ploumis
NEW YORK (Scrap Monster): The pace of gold-coin sales in the U.S. has eased, as reflected by data from the U.S. Mint. Sales are 48,500 ounces so far in October, compared to full-month sales of 68,500 in September, said Barclays Capital in a commodity snippet.
Although this month is near 50,000 for October 2011 and the year-to-date sales so far are around 530,000 ounces, compared to around 1 million for full-year 2011.
Meanwhile, holdings of gold by exchange-traded products are holding up but U.S. Mint sales are softer so far this month.
"Physically backed gold ETPs have started to crawl higher again and are less than a (metric) ton shy of the peak set earlier in the month," they added.
"Flows for the month to date are above 30 tons and are set to mark the third straight month of positive net interest. ETPs continue to represent 'sticky' demand. Net length in the futures market fell on profit-taking during the most recent reporting week,” Barclays concluded.
