The Phaserl


US gold coin sales surge in Oct. on price drop, Washington impasse

from CNBC:

* American Eagle gold coin sales reach 10,000 oz on Tuesday

* Bargain hunting rises as prices drop below $1,300

* American Eagle silver sales also greater than usual

Demand for U.S. gold coins has surged in October, reversing recent weak sales, boosted by bargain hunting as prices plunged below $1,300 an ounce and some safe-haven buying due to the U.S. budget impasse.

On Tuesday, the U.S. Mint sold 10,000 ounces of the most-popular 22-karat American Eagle gold coins, for total sales of 22,000 ounces so far in October, a Mint spokesman said.

The October sales are already the highest sales in three months and are nearly double sales of 13,000 ounces in September and 11,500 ounces in August.

Dealers also bought 4,000 ounces of 24-karat American Buffalo gold coins.

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