{"id":10622,"date":"2015-08-01T18:37:38","date_gmt":"2015-08-01T23:37:38","guid":{"rendered":"http:\/\/olduvai.ca\/?p=10622"},"modified":"2015-08-01T18:37:38","modified_gmt":"2015-08-01T23:37:38","slug":"perth-mint-and-u-s-mint-cannot-meet-demand-as-gold-bullion-demand-surges","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=10622","title":{"rendered":"Perth Mint and U.S. Mint Cannot Meet Demand as Gold Bullion Demand Surges"},"content":{"rendered":"

Perth Mint and U.S. Mint Cannot Meet Demand as Gold Bullion Demand Surges<\/a><\/h3>\n

– Perth Mint sees surge in demand and cannot keep up with demand
\n<\/b>– \u201cOur biggest restriction is the amount of unrefined gold we\u2019re getting in from producers\u201d
\n<\/b>– Very high demand for Perth Mint coins, bars coming from Asia, U.S. and Europe
\n<\/b>– U.S. Mint sees highest sales of gold coins in over 2 years
\n<\/b>– U.S. Mint restrictions on silver coins due to very high demand
\n<\/b>– Gold sentiment has moved from despondency to depression (see chart)
\n<\/b>– Current negative sentiment despite strong demand is good contrarian indicator<\/b><\/p>\n

\"31-07-2015_1\"
\nPerth Mint Gold Bar (1 kilo)<\/i><\/p>\n

Depressed prices have led to the usual market response, a surge in physical demand for coins and bars globally.<\/b>
\n<\/b>
\n<\/b>This is confirmed in conversations we have had with our refiner and mint partners in recent days. There are growing shortages of supply of small coins and bars. This is resulting in delays in receiving bullion and indeed to rising premiums.<\/b>
\n<\/b>
\n<\/b>Asian gold demand picked up this week keeping premiums robust and slightly higher in the world\u2019s top gold buying regions.<\/b>
\n<\/b>
\n<\/b>Treasurer for the\u00a0Perth Mint<\/a>, Nigel Moffatt has said that the mint has seen a surge in demand for physical gold since the price dropped below $1,100 per ounce.<\/p>\n

In an interview on\u00a0Bloomberg<\/a>\u2019s \u201cFirst Up\u201d show he said \u201cOur biggest restriction is the amount of unrefined gold we\u2019re getting in from producers\u201d, adding, \u201ceverything we get in is going straight out the door as soon as we refine it.\u201d<\/p>\n

Moffatt says that the Perth Mint is seeing strong demand for kilo bars which go to Asia \u2013 particularly India, China and now Thailand \u2013 adding that traditional buyers in Asia tend to \u201cstock up\u201d on gold when the price falls.<\/p>\n

There is also a huge demand for coins from individual buyers in the U.S. and Europe:<\/p>\n

Gold\u00a0\u201cis going straight out the door as soon as we can find it.\u201d<\/i><\/p>\n

…click on the above link to read the rest of the article…<\/p>\n

\u00a0<\/i><\/p>\n","protected":false},"excerpt":{"rendered":"

Perth Mint and U.S. Mint Cannot Meet Demand as Gold Bullion Demand Surges – Perth Mint sees surge in demand and cannot keep up with demand – \u201cOur biggest restriction is the amount of unrefined gold we\u2019re getting in from producers\u201d – Very high demand for Perth Mint coins, bars coming from Asia, U.S. and […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[3563,374,5613,1110,7755,1111,647,3564],"class_list":["post-10622","post","type-post","status-publish","format-standard","hentry","category-economics","tag-bullion","tag-gold","tag-goldcore","tag-paper-gold","tag-perth-mint","tag-physical-gold","tag-precious-metals","tag-us-mint"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/10622","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=10622"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/10622\/revisions"}],"predecessor-version":[{"id":10623,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/10622\/revisions\/10623"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=10622"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=10622"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=10622"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}