U.S. Mint Suspends Gold Coin Sales

The U.S. Mint is temporarily suspending sales of American Eagle bullion coins citing increased demand and lack of supply.

"Due to the unprecedented demand for American Eagle gold one-ounce bullion coins, our inventories have been depleted. We are therefore temporarily suspending all sales of these coins," the U.S. Mint announced in a memorandum to authorized dealers.

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In Singapore trading gold for immediate delivery dropped $11.83, or 1.5 percent, to $788.24 an ounce before trading at $789.54. The metal dropped to as low as $772.98 Aug. 15, the lowest since October. Silver for immediate delivery tumbled 2.9 percent to $12.685 an ounce.

Kitco anticipates delays in bullion products.

Kitco has posted this notice on their website:

IMPORTANT NEW NOTICE: Due to market volatility and higher demand in the entire industry, we are anticipating delays in supply of all bullion products. Please note that you can continue to place orders and prices will be guaranteed; however, cancellation fees will still be applicable regardless of the length of the delay. Consequently once inventory is received there may also be delays in processing and shipping by our vaults.