How, and How Quickly, Will Bullion Sales React? By David C. Kranz,
May 01, 2008
My eyes were drawn to gold and silver this week. Gold went
back under $900 per ounce on the world market April 23, and
I wondered how this would affect bullion American Eagle and
I found I was looking a little early, as April 23 was right
in the middle of the report period for these U.S. Mint bullion
market products. Last week's bullion sales figures were reported
as of April 21, this week's are as of April 25.
In those four days, gold bullion Eagles advanced by 8,500
ounces, 8,000 of those in the form of one-ounce pieces. Bullion
Buffaloes stepped up 3,500 ounces. A total of 12,000 ounces
of gold in four days seems steady. As of this writing, gold's
market price has continued down to $862.80. We'll see what
next week brings - surge, stall or otherwise.
Bullion silver Eagles posted a gain of 130,000 this week.
Last week they'd jumped from zero to 1,295,000.
Uncertainty surrounds First Day Covers. Some we've listed
as sold out for weeks now have lower figures, others held
little surprise. Keep on watching.