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U.S. Mint Gold Coin Sales and VIX Point To Increased Market Volatility and Higher Gold

goldcore.com / October 13, 2017

– US Mint gold coin sales and VIX at weakest in a decade
– Very low gold coin sales and VIX signal volatility coming
– Gold rises 1.7% this week after China’s Golden Week; pattern of higher prices after Golden Week
– U.S. Mint sales do not provide the full picture of robust global gold demand
– Perth Mint gold sales double in September reflecting increased gold demand in both Asia and Europe
– Middle East demand likely high given geopolitical risks
– Iran seeing increased gold demand and Iran’s gold coin price up by 5%
– Trump’s war mongering could see demand accelerate
– Germany seeing very robust demand and now world’s largest gold buyer

Editor: Mark O’Byrne

US Mint coin sales fell to a decade low last month. This follows poor sales since the beginning of 2017. In the third quarter sales reached nearly 3.7 million ounces. September gold coin sales were down a whopping 88% compared to the same period last year.

Year to date sales at 232,000 ounces are 66.5% lower than the 692,500 ounces delivered during the first nine months of 2016, according to the U.S. Mint.

American Eagle gold coin sales did see a slight uptick in demand from very low levels and increased by 11,500 ounces in September which was up by 21.1% in August.

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