Gold ETPs Post Modest Outflows So Far in June; U.S. Mint Coin Sales Higher

New York (June 30)   Global exchange-traded products have posted outflows so far in June, but U.S. Mint coin sales for the month to date are the most since January, says Barclays. ETP outflows are 5.6 metric tons so far this month. “Flows have been positive for roughly a week, though, which has eaten into otherwise more negative flows,” Barclays says. “While ETPs have turned from the hefty net redemptions seen last year, we do not expect a sustained upward trend in holdings in the near term, as at best, daily flows should continue to bounce between inflows and outflows in our view,” the bank says. Meanwhile, U.S. Mint data show that combined sales of American Eagle and Buffalo coins are 60,000 ounces so far this month.

This makes June the most robust month since January, when sales were 133,000, Barclays points out.

Source: KitcoNews