NEW YORK, Nov 25 (Reuters) - The U.S. Mint said on Wednesday it will suspend sales of the popular American Eagle 1-ounce bullion coins as rising demand depleted its inventory.

"The United States Mint has depleted its current inventory of 2009 American Eagle 1-ounce gold bullion coins due to the continued strong demand for this product," the Mint told its authorized dealers in a memorandum on Wednesday.

Ed Steer, in his daily commentary, had this insight on the above news.

"The U.S. Mint has advised its dealer network that, until further notice, there will be no more one ounce gold eagles forthcoming. Let's see how long this delivery problem lasts. Because of Christmas, December is normally a big sales month for the Mint. They may have the sales, but they don't have the product. And, on another related note, there are some rumours out there that the South African Krugerrand is in short supply as well. Will silver eagles be next?"