Meanwhile, the U.S. Mint sold 209,500 ounces of gold coins last month and 62,000 ounces in March. So far this month, 52,000 ounces of gold coins were sold.
Additionally, global central banks are showing interest in boosting bullion holdings on the lower gold prices. According to the World Gold Council, global central banks can add 450 to 550 tons of gold this year after accumulating a record 534.6 tons in 2012.
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Max Chen contributed to this article.
Full disclosure: Tom Lydon’s clients own GLD.