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Gold still the story

First day bullion coin sales at the U.S. Mint once again point to strong demand for gold.

Already in 2016, the Mint has sold 60,000 ounces of the precious metal in the form of American Eagles, or 74 percent of last year’s entire monthly January total of 81,000.

Demand for silver in percentage terms is less. On the first day today, sales totaled 2,756,500, which works out to almost 50 percent of last year’s January total of 5,530,000 coins.

The Mint had 4 million coins ready to go, so it is demand that has kept the sales number down today.

Of course, there are almost three full weeks left in the month of January.

Demand for gold Buffaloes came in at 61 percent of the January 2015 sales number, 21,000 versus 34,500.

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