December saw increased gold coin buying from U.S. Mint
The U.S. Mint recently announced that precious metal buyers increased their purchases of American Eagle gold coins for the first time since August.
The Mint says it sold 65,500 ounces of the gold coins in December. This was an increase of more than 20,000 ounces from November.
Bloomberg reports that the increased interest in the coins from precious metal buyers is likely due to falling gold prices in December.
"Individuals were waiting for a pullback in prices," Scott Carter, chief executive of Goldline International Inc., told the news source. "We witnessed a rise in retail sales."
Gold prices dipped as much as 21 percent from their record high of more than $1,920 per ounce in early September. Despite the setbacks experienced by the yellowish metal, gold was still able to post its 11th consecutive year of annual gains.
According to data from the mint, sales of the American Eagle gold coins from the facility slumped in 2011 compared to 2010. Last year saw approximately 1 million ounces of the coins sold, while the year prior saw 1.2 million ounces.
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