Gold Bullion Coin Weekly Market Review July 30 – August 5, 2018

Last week prices for precious metals remained practically unchanged. An ounce of gold hovered around the $ 1,220 mark, while silver traded near the $ 15.4 / oz level. Despite the fact that the dynamics on the precious metals market does not look the best, the latest mints’ figures show a sharp surge in demand. For example, the US Mint sold 35,000 ounces of American Eagle gold coins in July (+ 42.9% mom), which was a record high this year and doubled from a year ago. The demand for silver coins also increased – in July they were sold 103% more than in June. It is curious that according to polls, Americans are actively buying precious metals against the backdrop of a flaring trade and currency war with China, the outcome of which is not yet obvious.

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