Daily Gold Market Report

Gold attempts to regain footing after Friday’s yen-related selloff
US Mint reports sharp gains in gold bullion coin sales in March

(USAGOLD – 4/1 7/2023) – Gold is attempting to regain its footing after Friday’s steep selloff led by a sharp decline in the Japanese yen. It is up $5 at $2012. Silver is up 7¢ at $25.50. Friday’s retreat aside, demand for gold and silver bullion coins is running strong, driven by safe-haven investors looking for an alternative to bank savings. The US Mint reports a 277% gain in sales of the American Eagle gold bullion coin over last month and a 38% gain over the same month last year, according to CoinNews. Demand for the American Eagle silver bullion coin in March was at par with last month, but ultra-high premiums have channeled strong global demand to lower premium alternatives like the Canadian Maple Leaf and the Austrian Philharmonics. Combined sales of American Gold Eagle and Buffalo gold bullion coins posted their best month in five years at just over 280,000 ounces.

bar chart showing sales of American Eagle gold bullion coins over the past five years.

Chart courtesy of GoldChartsRUs

This entry was posted in Daily Market Report, dailyquotes, Today's top gold news and opinion. Bookmark the permalink.