The U.S. Mint has announced that it is resuming sales of the one-tenth (1/10th) ounce gold Eagle bullion coins.
(PRWEB) May 31, 2013
The U.S. Mint has announced that it is resuming sales of the one-tenth (1/10th) ounce gold Eagle bullion coins. The move comes a month after the price of gold dropped by more than $200 per ounce over the course of two trading days.
The drop in gold’s value has been blamed on on-physical gold markets, and investors have been scooping up gold bullion coins and bars as quickly as possible since the massive mid-April drop. A depleted government inventory combined with the increased demand for hard, safe-haven assets caused the U.S. Mint to suspend sales of its smallest gold bullion coin until it could replenish supplies of the tenth-ounce gold blank rounds, or planchets.
In other news, the Mint also announced that purchase limits for the “America the Beautiful” five-ounce coins series were being lifted. These gestures could mean that demand for physical gold is starting to fade among U.S. investors, who could be weary (and wary) of gold prices that just can’t seem to move in any one direction for very long and have been prone to high-volume daily fluctuations for the last few months. The limit on American Eagle silver bullion coins, however, is still in place, according to a recent Reuters article.
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