Something is brewing in the gold market as U. S. Gold Eagle sales hit a record this month. This is a very interesting trend change as sales of Gold Eagles were sluggish for most of the year.
Matter-a-fact, Gold Eagle sales in September are the second highest for the year. If we look at the chart below, investors purchased 55,500 oz of Gold Eagles, more than double August sales of 25,000 oz. January usually holds the single highest sales month of the year due to high demand for the newly released official gold coin.
Not only are September Gold Eagle sales higher than June’s 48,500 (when the price of gold hit a low of $1,240), they are 4 times higher than sales during the same month last year. Gold Eagle sales in September 2013 were a paltry 13,000 oz.
This post was published at SRSrocco Report on September 29, 2014.
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