Alasdair Macleod’s Market Report: Lift-off!
SilverDoctors.com
February 14, 2016
Demand for physical gold has picked up strongly. In London, ETF Securities reported buying of physical gold ETFs totalling over $710m since January 1st. Tales from high street bullion dealers are of record sales of gold bars and coins. And how often do we hear of record interest in places like South Korea?
With a sudden surge in public demand for physical gold, there is no knowing how it will be satisfied.
There is a risk of a gathering snowball effect, with higher gold prices triggering yet more demand.
Western vaults are only able to supply initial demand, but because bullion banks have unallocated accounts for customers not backed fully by gold, they will be forced to cover the risk of higher prices.
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