Rich investors are hoarding their gold, sometimes keeping it in their own vaults, the Financial Times quotes analysts as saying, as “safe haven” buying of gold and in particular gold coins continues to push up the price. It’s currently trading at $892 an ounce and precious metals experts at UBS and Goldman Sachs say the hoarding will drive the price up to $1,000. According to the FT, the US Mint in January 2009 sold four times as many US American Eagle gold coins as a year earlier. US Mint figures for gold coin sales, 2008
Posted by Ellen Wallace on 10 February 2009 at 11:07 | permalink
This work by genevalunch.com is licensed under a Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Unported.
News story, GenevaLunch, 10 February 2009.
Filed under: World news
Tags: American Eagle gold coins, gold sales, hoarding, price of gold, US Mint, vaults
We are happy to have your comments, which are approved before they appear: please remember to be courteous and brief. We accept only comments directly related to an article. We do not accept comment spam - messages sent to more than one site. We do not publish comments if the e-mail address is not legitimate. Thank you!