Perth Mint Demand Highest Since Lehman Brothers – Refines Coins, Bars At Weekend
Tuesday, 30 April 2013
Gold is slightly lower today after yesterday’s consolidation on last week’s gains.
Premiums continue to rise on physical product across the world to reflect a significant increase in demand and very tight supplies. Premiums on gold and silver coins and bars are increasing across the world – from London to Frankfurt to Zurich to Turkey to Dubai to Mumbai to Singapore to Hong Kong to Tokyo and across the U.S.
Physical gold stocks held at CME Group’s Comex warehouses in New York have dropped to a near-five year low in a further sign that gold’s recent weakness has unleashed a nascent mini gold rush of demand as people all over the world scramble to own bars and coins.
Premiums to secure supplies in India jumped to five times the level before the slump.
Physical bullion coins and bars for immediate delivery are not available in much of the world including in the Middle East and Singapore.
Consumers in Singapore and Hong Kong have seen premiums on bars rise sharply and Standard Merchant Bank (Asia) Ltd. said that “physical metal is still not available.”