This summer’s market mayhem caused Americans to buy gold bars and coins at levels unseen since the financial crisis.
When people are scared about the economy and financial markets, they rush to gold. Boy, were they worried in recent months.
U.S. demand for gold bars and coins surged 207% during the third quarter, the World Gold Council said on Thursday.
The skyrocketing demand signaled a level of interest in gold investment “not seen since the global financial crisis,” the group said.
The U.S. Mint backs up that assessment. It said gold Eagle coin sales surged to nearly 400,000 ounces last quarter, the highest level in more than five years.