U.S. Mint Bullion Eagle Coins Surge, Despite Plunging Gold and Silver Prices

Precious metals had a disastrous week, yet U.S. Mint authorized buyers ordered more bullion American Eagle coins during the third week of May than in each of the prior weeks when metals were rallying.

New York gold prices finished lower for the fourth consecutive session on Friday, with June futures tumbling to $1,176.10 an ounce, plummeting 4.2 percent this week.

U.S. Mint one-ounce American Gold Eagles, however, soared. The coins advanced 67,000 this week, as compared to a 31,000 increase during the second week of May and a 41,500 gain during the first week. May sales on Friday reached 139,500, bringing the Gold Eagles to 471,000 for the year.

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