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Posted Mar 5th 2009 8:30AM by Steven Mallas
Investors are rushing to buy gold bars and coins. The US Mint sold 92,000 American Eagle coins last month, four times that sold a year ago and more than it shipped in all of 2007
This is not only a US phenomenon. Other countries' mints are reporting strong sales. John Reade of UBS reported large purchases of coins, seen as a safe haven investment.
Inflows into gold backed exchange funds surged in January pushing holdings to an all time high of 1,317 tonnes. Barclays Capital (NYSE:BCS)saw that last months flows of 105 tonnes amounted to half of the world's gold mine output for January. Mr. Reade said that investment in gold could double in 2009 compared with 2007.
Gold bullion sales hit record - BloggingStocks
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