U.S. Mint Silver-Coin Sales Rise From Year Ago on Europe ConcernDebarati Roy
The U.S. Mint’s sales of American Eagle silver coins rose from a year earlier to a three-month high, as concerns that economic growth in Europe will falter boosted demand for haven assets.
Sales surged to 5.13 million ounces this month, the most since October and above 4.78 million a year ago, according to figures from the Mint’s website.
Silver futures jumped as much as 19 percent this month as the European Central Bank expanded its bond-buying program in an effort to jump-start growth. Money managers have raised their net-bullish wagers to the highest since July, according to U.S. government data. Gold jumped above $1,300 an ounce on Jan. 21 for the first time since August.
Silver futures on the Comex in New York have posted three straight weekly gains, the longest rally since July. The contract for March delivery declined 1.7 percent to $17.983 an ounce on Jan. 26.
Holdings in exchange-traded products backed by the metal climbed in three of the past four weeks.