Gold coins sale in Europe and the U.S. surged in the third quarter with sales in the U.S. hitting levels not seen since 2013. Low prices and increased volatility in global stock markets has sparked retail demand.
Sales of the 1 oz. gold American eagle trebled in the third quarter to 322,000 ounces. Every time the price breaks down retail demand jumps. Although the gold price has only dropped 6% this year increased stock market volatility, concerns over the health of the Chinese economy and political upheaval in the Eurozone has sparked retail demand.
The Austrian Mint, who produce the popular 1 oz. gold and silver philharmonic coins have also reported trebling sales.