Read the Beforeitsnews.com story here. Advertise at Before It's News here.

By Bullion Baron (Reporter)
Contributor profile | More stories

Story Views
Now:
Last hour:
Last 24 hours:
Total:

Scramble for Physical Gold and Silver Continues

Thursday, April 18, 2013 7:26

% of readers think this story is Fact. Add your two cents.

The scramble for physical Gold and Silver continues. After I reported on Tuesday night that there appeared to be a rush for precious metals occurring, news has continued to flow in. I’ve lost track of many articles read over the last two days, but notably Perth Mint reported buying activity in excess of double the week prior:

“The volume of business that we’re putting through is way in excess of double what we did last week,” Treasurer Nigel Moffatt said, without giving precise figures. “There’s been people running through the gate.” SMH

Zero Hedge reports on a record number of Gold coins sold at the US Mint:

According to today’s data from the US Mint, a record 63,500 ounces, or a whopping 2 tons, of gold were reported sold on April 17th alone, bringing the total sales for the month to a whopping 147,000 ounces or more than the previous two months combined with just half of the month gone. Zero Hedge

And just released minutes ago was this transcript from an ABC report earlier today:

“It’s hot, stuffy and cramped. I’m standing in a crowd of about 70 people in a hallway outside the Australian bullion company in Sydney’s CBD. This quiet chaos is the new gold fever.”

“Every now and then a woman opens the door to let out a customer. The crowd surges forward only to be pushed back outside. Those at the front say they’ve been waiting FOR at least two hours.”

“ELLESA THROWDEN: According to the Australian bullion company’s chief
economist Jordan Eliseo, Mr Waldock makes up just 1 per cent of
customers today who are selling.

JORDAN ELISEO: Of all the
traffic that we’ve had over the last few days, and we’ve had queues like
this since Monday, as well as our internet and phone orders running off
the hook, the ratio between people buying and selling physical is, and
this is no exaggeration, basically 99 to one.”

I have heard from a follower on Twitter that normal activity in this store is around 2-3 customers, compared with a lineup of 70 outside the store today and apparently they had no stock so customers were having to pay in advance to pick up later.

Ainslie Bullion have had to close their web store, with this excerpt from the message on their home page:

It is with regret that the web shop is closed until further notice. We will reopen as soon as possible. This decision has not been taken lightly. If we don’t have it, we don’t sell it. We would not close the web shop if we had sufficient stock to offer for sale, no matter the price.

Our current stock is almost exhausted. In the last week we have had 30+ clients waiting to be served personally, at any given time during the day. Online orders are being received faster than they can be processed. Ainslie Bullion

Gold Stackers had reported earlier in the week on their Facebook page that sales activity was roughly five times the norm:

If
you’re feeling a bit bummed about the drop in the spot market – retail
volumes are through the roof, investors are voting with their wallets
and buying physical like crazy, physical sales are about 5x normal
levels. The fundamentals have NOT changed. Gold Stackers

I’m tweeting many of these stories out as I find them, so if you want the latest, follow me on Twitter (@BullionBaron).

It’s going to be very interesting to see how this “Gold rush” develops and whether it translates into a bottom forming in Gold as physical demand surges.

I haven’t been able to add much to the physical stack recently, but did pick up an Olympic 2000 Silver Kilo Coin today and a 1997 Coca Cola Sovereign (24k) a few days ago:

Click Image to Enlarge

You can follow me on Twitter. I’m usually sharing links and opinions daily (@BullionBaron). You can also CLICK HERE to signup for free email updates.

BB.

2013-04-18 07:07:11

Source: http://www.bullionbaron.com/2013/04/scramble-for-physical-gold-and-silver.html

Source:

Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world.

Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.

"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.

Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world. Anyone can join. Anyone can contribute. Anyone can become informed about their world. "United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.

LION'S MANE PRODUCT

Try Our Lion’s Mane WHOLE MIND Nootropic Blend 60 Capsules

Mushrooms are having a moment. One fabulous fungus in particular, lion’s mane, may help improve memory, depression and anxiety symptoms. They are also an excellent source of nutrients that show promise as a therapy for dementia, and other neurodegenerative diseases. If you’re living with anxiety or depression, you may be curious about all the therapy options out there — including the natural ones.Our Lion’s Mane WHOLE MIND Nootropic Blend has been formulated to utilize the potency of Lion’s mane but also include the benefits of four other Highly Beneficial Mushrooms. Synergistically, they work together to Build your health through improving cognitive function and immunity regardless of your age. Our Nootropic not only improves your Cognitive Function and Activates your Immune System, but it benefits growth of Essential Gut Flora, further enhancing your Vitality.

Our Formula includes: Lion’s Mane Mushrooms which Increase Brain Power through nerve growth, lessen anxiety, reduce depression, and improve concentration. Its an excellent adaptogen, promotes sleep and improves immunity. Shiitake Mushrooms which Fight cancer cells and infectious disease, boost the immune system, promotes brain function, and serves as a source of B vitamins. Maitake Mushrooms which regulate blood sugar levels of diabetics, reduce hypertension and boosts the immune system. Reishi Mushrooms which Fight inflammation, liver disease, fatigue, tumor growth and cancer. They Improve skin disorders and soothes digestive problems, stomach ulcers and leaky gut syndrome. Chaga Mushrooms which have anti-aging effects, boost immune function, improve stamina and athletic performance, even act as a natural aphrodisiac, fighting diabetes and improving liver function. Try Our Lion’s Mane WHOLE MIND Nootropic Blend 60 Capsules Today. Be 100% Satisfied or Receive a Full Money Back Guarantee. Order Yours Today by Following This Link.

Comments

Visits:	1,708,647,295
Stories:	8,450,881