After the biggest gold slump in three decades left investors heartbroken, they’re following Taylor Swift’s advice and never, ever getting back together.
The century-old benchmark used by the $18 trillion global gold market is under scrutiny after one of its four member banks was fined for manipulating prices.
Increasing demand for U.S. silver coins was poised to send premiums to the highest since October even as banks including Goldman Sachs Group Inc. predicted more declines in futures after the biggest annual slump since 1981.
The U.S. Mint in April has sold 153,000 ounces of American Eagle gold coins, the highest in almost three years, after futures prices started the week by plunging the most since 1980.
Sales of American Eagle silver coins by the U.S. Mint since the start of the year surpassed the annual record as the futures market rallied from the lowest in 34 months.
Sales of gold and silver coins by the U.S. Mint may rise to a record this year if demand continues to remain at the current pace, according to Richard Peterson, acting director of the mint.
Moy Says Gold Should Be Part of Portfolio