Investors flock to gold, silver bullion to protect wealth in Q1
According to data from the U.S. Mint, it sold 215,000 ounces of gold in various denominations of its America Eagle gold coins, its best March performance since 2018. At the same time, the mint sold 435,500 ounces in the first three months of the year, its best first-quarter performance since 1999.
Analysts note that broad-based investment demand for gold helped to drive the price back above $2,000 an ounce. Similar to gold, Perth Mint data shows solid demand for silver bullion even if sales are down from last year’s highs. The Australian sovereign mint said it sold 1.823 million ounces of silver in March, up nearly 23% from February and up more 10.5% compared to last year.
Some analysts continue to note that U.S. Mint silver sales are not a fair representation of the global market because of the supply crunch in America.The mint said it sold 900,000 ounces in March, unchanged from February. Silver sales since the start of the year are down 24% compared to the first quarter of 2022.
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