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It’s a tale of two markets: gold futures ended May with the biggest monthly decline since November but physical demand saw a significant increase from last year.
Sales data compiled by the U.S. Mint shows that a total of 95,000 ounces of gold were sold in May, up more than 206% from 31,000 ounces sold in May 2015.
Month-over-month sales was less impressive showing a 24% decline compared to a total of 125,000 ounces sold in April. Looking at the mint’s historical data, May is typically the start of slow season for the market; however, 2016 bucked the trend as this was the strongest May since 2011.
Silver demand was just as impressive as sales increased annually and month-over-month. The data showed that the U.S. Mint sold 4,489,500 ounces of silver in May, up 122% from 2,023,500 ounces sold in 2015, and up 10.5% from 4,072,000 ounces sold in April. This is the fifth consecutive month the mint has seen sales of more than 4 million ounces; in January of 2016, silver coin sales hit almost 6 million ounces.”
http://www.kitco.com/news/2016-06-01/May-Gold-Coin-Sales-Increase-More-Than-200-From-Last-Year.html