Perth Mint sales at four month high
Adam Pike, News Editor
2 Jul 2014, 10:42 a.m.
Gold coin sales at the Perth Mint have risen to its highest level in four months as the rising gold price increased investor demand. The sale of gold bars and coins increased to 39,405 ounces in May from 36,127 in February.
The U.S. mint also experienced significant increase in demand in June with 1oz gold American Eagle coins sales reaching 48,500.
Holdings in the world’s largest gold backed exchange traded fund the SPDR Gold Trust, increased by 1.4% over the last two days to 796 metric tons according to data released by Bloomberg. This increase represents the biggest two rise since November 2011.
The gold price has increased by 6.2% in June as the violence continues to escalate in Iraq and Ukraine. The price has also been boosted by the Federal Reserve’s decision to maintain ultra-low interest rates for the foreseeable future.