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6 months ago
UPDATE 1-U.S. Mint gold coin sales at 14-month low in February
February 28, 2017 / 9:42 PM / 6 months ago

UPDATE 1-U.S. Mint gold coin sales at 14-month low in February

 (Recasts to include milestones; adds mint data, background)
    NEW YORK, Feb 28 (Reuters) - Sales of U.S. Mint American
Eagle gold coins fell to a 14-month low while silver coin sales
were also sharply lower in February, the latest government data
showed on Tuesday, as bullion prices rose for the second
straight month.
    The U.S. Mint sold 27,500 ounces of American Eagle gold
coins in February, the lowest since December 2015 and down 67
percent from a year ago, U.S. Mint data showed.
    American Eagle silver coin sales reached just over 1.2
million ounces in February, down 75 percent from February 2016.
    The weak coin sales came as holdings of the largest
gold-backed exchange-traded fund (ETF), New York's SPDR Gold
Trust                , rose more than 5 percent in February, the
first monthly rise since September as investors eyed
geopolitical risk.
    Analysts have been expecting nervousness ahead of elections
in the Netherlands, France and Germany to help support gold
prices this year, though expectations for higher U.S. interest
rates could provide a source of pressure.
    However, in iShares Silver Trust                , the
largest silver-backed ETF, holdings were on track to fall by a
slight 0.1 percent in February, the fifth month of outflows.
         

 (Reporting by Marcy Nicholson; Editing by Marguerita Choy)
  

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