Royal Canadian Mint also reports exceptionally high demand for its gold and silver coins
by homment | 18.04.2013 | Views: 325
Royal Canadian Mint also reports exceptionally high demand
If it weren’t for the sharp fall in the price of gold in recent days, one might have said that the yellow precious metal behaved like a safe haven yesterday. After all, gold was the only commodity – apart from the agricultural sector – to perform positively yesterday.
By contrast, the cyclical commodities and indeed the equity markets found themselves under severe pressure. The low gold prices are continuing to attract more retail investors.
The U.S. Mint, for example, has sold 147 thousand ounces of gold coins in April so far. This is already nearly as much as in the whole of January, when coin sales attained their highest level since the summer of 2010. Since the price slide, nearly 100 thousand ounces of gold coins have been sold within just three days – the last time such a high volume was sold was in 2008 following the collapse of US investment bank Lehman Brothers.
Sales of silver coins also remain very robust and are well above the usual average daily sales volumes. What is more, the Royal Canadian Mint also reports exceptionally high demand for its gold and silver coins. Thus there continue to be two different viewpoints on the gold market: in contrast to the high coin sales, gold ETFs are still experiencing outflows. Yesterday saw holdings decline by a further 13 tons to their lowest level since January 2012.