Bloomberg: Gold Coin Sales at One-Year Record High

PRLog (Press Release) - May 17, 2011 - Bloomberg issued a report last week that the sales of gold coins around the world this month are tracking to a one-year high level. They also cited history in the article saying that it implied that the bull market in the price of gold had more room to run.

According to the article, the United States Mint has sold 85,000 American Eagle gold coins since May 1. When that last happened, the price of gold coins increased 21 percent in the next year. A group of investors polled by Bloomberg expected the price of gold to appreciate 17 percent by December 31 to a record $1,750 per ounce and continue the rally in 2012.

Continued weakness in the United States dollar and the fear around the ongoing debt ceiling crisis in Washington could support the price of gold coins this week.

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