Gold continued to come on strong this week, increasing its value by $66.35 per ounce over the last five days to end at its highest point since February 9 of last year. Currently listed at $1,239.75 by the London Bullion Market Association, the commodity has gained particular momentum since the start of the new year, and has risen over $177 per ounce in the last six weeks.
Gold’s growing strength is helping to drive strong sales of the U.S. Mint’s 2016 gold bullion coins, which have already exceeded totals for all of January and February of 2015. In fact, 2016 American Gold Eagles have tallied an impressive 164,000 ounces sold with two weeks to go in February, an increase of 65% over the first two months of last year.
As noted previously, the rising cost of gold spurred the U.S. Mint to raise prices on its numismatic gold coins earlier this week, and is likely to do so again next Wednesday as the value of the commodity continues to climb.
For more information on the U.S. Mint’s gold bullion program, please visit the Mint’s Web site.