Gold futures lost almost 8% in November 2016, bringing them to a 10-month low this year. A bad month for gold though generated an exceptional month for gold coins. US Mint sales of gold bullion also rose again for the fourth month in a row. Experts associate this rise with lower prices attracting bargain hunters and risk takers expecting prices to go up in 2017. American Gold Eagle coins also had their best sale figures since July 2015.
American Eagle gold coins jumped by 147,500 ounces in the month of November, showing advances of more than 27% from October figures of 116,000 ounces and just over 52% from the 97,000 ounces delivered in November of the previous year. Sales this year include 956,000 ounces, bringing the total up 19.4% higher than the 801,000 ounces sold during all months of 2015, excluding December.
American Buffalo gold coins jumped 29,500 ounces in December, up 3.5% from the 28,500 ounces moved last November. Still, sales declined just over 22% from the 38,000 ounces moved in November of 2015. Sales from January to November include 207,000 ounces, putting those 5.5% lower than the 219,000 ounces sold last year in the same period of time.