Austrian Mint Sells Third Highest Amount of Gold on Record

gold silver 600X300The Austrian Mint published its annual gold sales report on Monday, which indicated the metal seller had its third best year on record in 2015.

From Goldseek.com:

In 2015, the Austrian Mint sold 756,200 troy ounces (23.52 tonnes) of Vienna Philharmonic gold coins [and] Philharmonic gold coin sales in 2015 were the third best year on record, just slightly lower than 2008’s total sales of 795,000 ozs, but still well short of 2009’s bumper sales total of 1,036,000 ozs, when that year’s financial crisis was in full flight.

Austrian Mint Gold Sales by Year
Chart courtesy of www.goldchartsrus.com

Although the bulk of the Austrian Mint’s gold is gobbled up by Austrians, its sales reports are used as a barometer for overall European and global physical gold demand. Europeans’ appetite for gold has been galvanized by turmoil overseas, more recently including the Brexit and a string of terrorist attacks in France and Germany.

Shares of the SPDR Gold Trust (ETF) (NYSE:GLD) fell $0.34 (-0.26%) to $128.64 in premarket trading Monday. The GLD has risen 27.12% year-to-date, quadrupling the return of the S&P 500 in the same period.

GLD-2016-08-01

GLD shook off its big pullback in late May to hit new yearly highs last month. It still has quite a long way to go to hit to new all-time highs, however. Back in mid-2011, the largest gold ETF by assets and volume surged all the way to its closing high of $184.58 per share.

You are viewing an abbreviated republication of ETF Daily News content. You can find full ETF Daily News articles on (www.etfdailynews.com)

Powered by WPeMatico