Last Updated : 04 January 2012 at 19:35 IST
US Mint Silver Eagle sales jump 88% to a record 3.2 million on first day of 2012
The US Mint has started 2012 with a bang, selling close to a jaw-dropping 3.2 million Silver Eagles on the very first working day of 2012.
- Gold, Silver may trade weak; Crude Oil to remain stable
- Exchange-traded products in gold -- investment vehicles that give investors exposure to bullion through issuing securities backed by the physical metal -- have seen huge outflows this year.
- read more
Continued year-over-year declines in U.S. beef production are expected to push beef exports lower..
By Col. Ajay
As per financial astrology, transit OD Sun in Saturn house is ..
NEW YORK (Commodity Online): The US Mint has started 2012 with a bang, selling close to a jaw-dropping 3.2 million Silver Eagles on the very first working day of 2012.
Considering that total 2011 sales had stood at around 39.8 million, the January 3rd sale is almost 8% of entire 2011 sale and higher than any single monthly sale in all of 2011!
As of the Mints's data, exact sales figure for Jan 3 stood 3,197,000 coins (approx 3.2 million). This is a more than 88% jump compared to 2011 first day sales of 1,696,000 coins
This trend continues the steady increase in demand for the silver coins. Since 2008, sales of the silver eagle has risen for 4 consecutive years and with 2012 starting off with a firecracker sale, one can expect a new yearly record this year.
During the last week of December, 2011, no coins were reportedly sold as people were engrossed in Christmas festivities and new year celebrations. Most of them had postponed their purchases. As such, the explosive sales figure could just be all the pending sales turning into actual orders.
- Silver COT report: The day the numbers lied
- UNICA data may induce further price pressure on Sugar: Deutsche Bank
- China Gold demand vs India Gold demand: Which is more consistent?
- Platinum prices to average $1687/oz in 2013: Barclays
- US Natural Gas industrial demand to grow 400 Mmcf/d in 2013: Barclays
- LME Copper prices may average $7,673/ton in 2013: Barclays