Wednesday, August 28, 2013

Austrian Mint Gold Sales Jump

Muenze Oesterreich AG, the Austrian mint that makes Philharmonic coins, increased sales this year after tumbling gold prices fueled demand.

Sales of gold coins from January to July rose 79 percent from a year earlier to 383,500 ounces, according to data e-mailed by the Vienna-based mint, almost matching those for the whole of last year of 400,000 ounces.

Mints saw sales jump after the price of gold, 15 percent lower this year, plunged into a bear market in April. Surging demand for jewelry, coins and bars in Asia helped prices rally as much as 21 percent since the end of June.