Gold’s biggest gain in a week was attributed to Chinese demand and demand for U.S. coins. Gold imports by China from Hong Kong almost doubled from October to November, and on Monday, the Shanghai Gold Exchange set a physical gold contract record.
Sales of gold and silver American Eagle bullion coins also surged to begin 2013. Coin Update reports that Monday’s opening day sales tally of 3,937,000 American Silver Eagles “seems to represent the highest one-day sales total in the history of the program,” while last week’s launch of the 2013 American Gold Eagle saw a 33% sales increase over 2012.
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This entry was posted on Wednesday, January 9th, 2013 at 12:41 am and is filed under China, Federal Reserve, General Economy, Gold, Monetary Policy, Short Sellers, Silver, U.S. Congress, Wall Street. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.