Report: Public Demand For Precious Metals Skyrockets: “The Whole Supply Chain Could Be Cleaned Out”

Sunday, August 9, 2015
By Paul Martin

Mac Slavo
August 9th, 2015
SHTFplan.com

Though we’ve seen a significant drop in precious metals prices over the last several years, new evidence from one of the world’s leading retail brokers further suggests that there is a massive disconnect between the paper price on global exchanges and demand by the general public.

According to a report from Money Metals Exchange, buyers were snapping up everything they could get their hands on over the last 45 days:

Public demand for gold and silver coins, rounds, and bars suddenly skyrocketed since mid-June – particularly among first-time customers – to multiples of earlier demand levels, according to Money Metals Exchange, a national precious metals dealer in the U.S.

From June 16 to July 31, Money Metals Exchange experienced a 135% surge in gold and silver sales over the prior 45-day period (which was representative of the early months of 2015). Since June 16, the number of first-time customers rose even more dramatically, with 365% more new purchasers than the prior period.

“As the Greece default debacle unfolded in late June, something clicked in investors’ minds, and many have since bought whatever physical gold or silver they could get their hands on,” said Stefan Gleason, president of Money Metals Exchange. “In particular, we experienced a dramatic and unprecedented surge in first-time customers clamoring to obtain the financial insurance that gold and silver represent.”

Many government and private mints, including the U.S. Mint and the Royal Canadian Mint, have been unable to keep up with demand and have either temporarily halted silver sales or rationed out their insufficient supply of silver coins.

“We’re seeing more buying interest than at any time since the 2008 financial crisis. If we see a further spike in demand, the whole supply chain could be cleaned out,” said Gleason. “In that event, customers will face long lead times and limited product choices. Gold supply is showing some signs of strain, but silver could become completely unavailable.”

Full Report and Data Via Money Metals Exchange

The Rest…HERE

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