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US Mint June gold coin sales slide 92% year on year to 0.19 mt

Increase font size  Decrease font size Date:2017-07-06   Views:471
Sales of gold coins by the US Mint totaled 0.19 mt in June, down 92% from 2.29 mt a year earlier, data from the agency showed Wednesday.

The June total is down 59% from 0.45 mt in May and the same volume as was sold in April, which was then the lowest monthly total since December 2015.

Monthly sales have been less than 1 mt since January, with the year-to-date total of 5.99 mt.

Sales totaled 15.6 mt in the first six months of 2016, with a record 31 mt sold over the entire year as investors took advantage of rising gold prices.

Retail investors in the US are believed to have shifted their focus away from gold since the start of 2017, to buy into the Trump-rally and specifically equities, according to analysts.

Based on the London Bullion Market Association settlement price, gold averaged $1,260.26/oz in June, up from $1,245/oz in May.

The LBMA Gold price settled at $1,221.90/oz Wednesday morning, down $1.85 compared with Tuesday and its lowest level for two months.

Sales of silver coins by the agency also fell sharply in June, with volumes down 65% year on year and 60% month on month to 31 mt.

So far in 2017, sales are than 50% below 2016's level at 380.50 mt.

Silver prices averaged $16.95/oz in June, up from $16.76/oz in May.

The LBMA Silver Price settled at $15.95/oz Wednesday, down 20 cents/oz day on day, to its lowest level since the start of the year.
 
 
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