Precious Metals

Gold Eagle bullion has best month since July 2015

Sales of the U.S. Mint's American Eagle gold bullion coins were higher in November 2016 than any month since July 2015.

Original images courtesy of SilverTowne

The U.S. Mint's American Eagle gold bullion coins have posted another stellar sales month.

The 147,500 total ounces of the coins, which range in size from tenth-ounce to 1-ounce weights, sold during the month of November 2016 add up to more than the total ounces sold in any single month since July 2015, when 170,000 ounces were sold.

Since the start of 2013, only two monthly totals other than July 2015 surpass November 2016 in terms of ounces of American Eagle gold bullion coins sold — January 2013 and April 2013. 

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In fact, only nine of the 47 months since the start of 2013 have posted American Eagle gold bullion coin sales that have surpassed 100,000 ounces. 

On the whole, 2016 is well ahead of 2015 and 2014 in terms of total ounces of American Eagle gold bullion sold. Through its first 11 months, 2016 has seen 955,500 ounces sold. That's well beyond the respective 801,000 and 506,500 total ounces sold in the first 11 months of 2015 and 2014. 

Monthly American Eagle gold bullion sales have risen consistently since July, when only 38,500 ounces were sold. In August, 58,500 ounces were sold. In September, the total was 94,000, and in October it reached 116,000.

Will this trend continue? 

Hard to say. While gold has been a hot investment throughout most of 2016, the price of gold has fallen in value from over $1,300 in early November down to $1,170 as of Dec. 6.

The falling value of gold may result in slowing sales, as purchasers wait for a bottom to be reached. Or it could be that the bottom has just about been hit and purchasers will look to add gold on the cheap.

In the graphics below, check out the pace of silver bullion coin sales, too, in comparison.

Gold bullion barsHow far the price of gold has fallen during its major November decline:
The price of gold has been falling in recent weeks as economic news has been generally positive and the U.S. stock market has closed at record highs.

Here's our latest infographic detailing American Eagle gold and silver bullion sales:

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