Demand for Gold Coins Dropped in 1Q
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In what is being viewed as a negative sign for gold and SPDR Gold Trust ETF (NYSE: GLD), demand for gold coins fell in the first quarter of 2012, according to a Reuters report today. The United States, Canadian, and Austrian Mints all reported lower sales in the first quarter compared to last year. In total, combined sales from the mints fell by 451,113 ounces in 1Q.
Silver American Eagle coin sales from the U.S. Mint were also down, dropping 18 percent to 10.139 million ounces in the first quarter.
SPDR Gold Trust ETF (NYSE: GLD) and iShares Silver Trust ETF (NYSE: SLV) are both trading lower intra-day on Tuesday, down 0.70 and 1.85 percent respectively.
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Silver American Eagle coin sales from the U.S. Mint were also down, dropping 18 percent to 10.139 million ounces in the first quarter.
SPDR Gold Trust ETF (NYSE: GLD) and iShares Silver Trust ETF (NYSE: SLV) are both trading lower intra-day on Tuesday, down 0.70 and 1.85 percent respectively.
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