U.S. Mint Gold-Coin Sales Jump 63% in January; Silver Triples

In January, gold futures rose 3.1 percent, snapping a four-month slump, as a rout in emerging-market currencies increased demand for the metal as a haven. Mints from the U.S., the world’s biggest, to Australia boosted sales with Austria’s Muenze Oesterreich AG operation running 24 hours a day to meet a surge in demand.

“Any kind of uncertainty attracts people to gold,” Scott Carter, the chief executive officer of Los Angeles-based Lear Capital, said in a telephone interview. “The long-term buyers accumulate gold every time there is a drop.” Gold futures for April delivery fell 0.2 percent to $1,239.80 an ounce yesterday on the Comex in New York. On Dec. 31, the price touched a six-month low of $1,181.40, spurring demand for coins, bars and jewelry.

Read More: www.bloomberg.com/news/2014-02-01/u-s-mint-gold-coin-sales-jump-63-in-january-silver-triples.html