Log in
Show password
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Dynamic quotes 
News: Latest News
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance Pro.CalendarSectors 
All NewsEconomyCurrencies & ForexEconomic EventsCryptocurrenciesCybersecurityPress Releases

U.S. bullion coin demand still at 'unprecedented' levels : Mint

06/05/2013 | 02:27pm EST
A gold coin rests in a bin inside the Gold Standard jewellery store in New York

NEW YORK (Reuters) - Demand for U.S. gold and silver bullion coins is still at "unprecedented" high levels almost two months after an historic sell-off in gold released years of pent-up demand from retail investors, the head of the U.S. Mint said on Wednesday.

His comments are likely to allay concerns among some traders that frenzied buying by mom-and-pop investors since mid-April after prices plunged to two-year lows had started to fade.

Their interest has helped prices recover to above $1,400 an ounce, providing key support to prices after institutional investors fled the futures market and exchange-traded funds.

"Demand right now is unprecedented. We are buying all the coin (blanks) they can make," Richard Peterson, acting director of the U.S. Mint, said in an interview referring to the Mint's suppliers.

The Mint, one of the world's largest gold and silver coin producers, may resume making platinum bullion coins after receiving requests from dealers, he said. It stopped making the coins in 2008 due to low demand.

(Writing by Josephine Mason; Editing by Maureen Bavdek and Cynthia Osterman)

ę Reuters 2013
Stocks mentioned in the article
ChangeLast1st jan.
PLATINUM -0.11% 934.5 Delayed Quote.-12.69%
SILVER -0.02% 22.372 Delayed Quote.-15.06%
Latest news "Economy & Forex"
12/03Top u.s. military officer cites "significant national security interests" for u.s. and nato if russia intervenes militarily in ukraine
12/03China's aviation regulator expects 737 MAX to resume flights around year-end
12/03Japan budget guideline draft urges 'all possible measures' to tackle crisis
12/03Brent crude futures rise $1 to $70.67 a barrel
12/03S.Korea makes vaccine pass mandatory for many more venues as Omicron fears rise
12/03China pares spot LNG purchases as high prices bite, inventories ample
12/03ELON MUSK : Musk exercises more options, sells Tesla shares worth $1.01 billion
12/03China top representative in Macau to advise govt on national security-state media
12/03China says huge amount of testing work still needed for certification of C919 aircraft
12/03Beijing easing travel rules for U.S. business execs - China's envoy to U.S
Latest news "Economy & Forex"