Gold

The United States Mint was unable to meet surging demand for its gold and silver bullion coins in 2020 and through January, due partly to pandemic-driven demand and plant capacity issues, it said. Sales of US gold bullion coins rose 258% last year while silver coin demand was up 28%, the Mint said on Tuesday.

Heavy buying has continued in 2021, it said, squeezing supplies, which had already been tight as the coronavirus affected production. A social media-driven buying spree lifted silver futures to an eight-year high on Monday, but dealers in the market for coins were already grappling with a supply shortage and shipping delays before that rally.