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Gold/Mining/Energy : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?

To: Little Joe who wrote (23025)	11/16/1998 1:35:00 PM
From: cool	Read Replies (2) \| Respond to of 116763

(REUTERS) Sales of U.S. gold coins at highest in 11 years Sales of U.S. gold coins at highest in 11 years NEW YORK, Nov 16 (Reuters) - Demand for U.S. gold, silver and platinum bullion coins all rose in October from levels seen in the previous month, and are now running at their highest levels in 11 years, according to the U.S. Mint. "Investors are continuing to take advantage of relatively low prices to purchase the physical metal," said Jeffrey Christian, managing director of industry consultants, CPM Group in New York. Sales of the U.S. Mint's U.S. Eagle gold bullion coins jumped to 288,500 ounces in October, compared to 233,000 ounces in September and 76,000 ounces in October last year. Demand for the gold bullion coins in the first 10 months of 1998 totalled 1,463,500 ounces, up 172.2 pct from the same period last year. Sales of U.S. gold Eagle coins are now running at their highest levels since the program was launched in 1986/1987. U.S. silver Eagle coin sales were also strong in October, more than doubling to 920,000 ounces from the 450,000 ounces sold in September. Year-to-date sales totalled 3,435,000 ounces, up 35.7 pct from the same period last year. "The availability of silver investment products in the secondary market is shrinking, and premia for old coin bags and small bars have jumped sharply," said CPM's Christian. Meanwhile, demand for U.S. Eagle platinum bullion coins rose to 25,150 ounces in October, up 42.9 pct from 17,600 ounces sold in September. This is the highest monthly level so far this year. Demand for the platinum coins for the first 10 months of 1998 totalled 123,100 ounces. ((New York Commodities Desk, 212-859-1640; clive.mckeef@reuters.com)) REUTERS * end of story *