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Wednesday, 11th February 2009 (2156 views)

The US Mint has reported that it sold 92,000 ounces of its American Eagle gold coin during January 2009, as sales continue to climb.

According to the mint, nearly four times the volume of the popular coins were sold last month compared with the same time last year.

The number of American Eagle gold coins sold last month was higher than the volume shipped during the entire first half of 2007 and a total of 21,000 one ounce American Eagle gold coins have been sold to date in February, it reported.

The Financial Times has reported that investors are turning to gold bullion record numbers in order to take advantage of its "relative safety" during a period of financial uncertainty.

Barclays Capital revealed that gold-backed exchange traded funds absorbed nearly half of the total global gold mine output last month and the newspaper noted that both UBS and Goldman Sachs have predicted that gold prices will soar above $1,000 (£690) an ounce this year.

 

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