Monthly Gold Sales Find Highest Since April

The US Mint reported sales of American Eagle gold coins as totaling 108,000 ounces–which is the highest sales have been in 2023 since April and the highest in the month of October since 2021. Gold futures are flat, ahead of the Federal Reserve’s upcoming decision about interest rates, which traders generally expect to stay unchanged. However, with futures slightly under the $2,000 an ounce threshold, some analysts think gold could soon bounce back above that level. “We think today’s pullback in gold is generating a buying opportunity,” says Peter Cardillo of Spartan Capital Securities in a note. Silver is also flat in trading, with Mint sales at their highest since 2014 at 3.94 million ounces.