It seems the actual bullion market as opposed to the paper (digital ) market is experiencing large increases in demand.
What caught my attention were two releases from world mints.
The first was from the US Mint who has temporary run out of Silver American Eagles after experiencing record sales.
Part of the Silver Doctors report commenting on the mints announcement reads:
“On Thursday, we alerted SD readers to the fact that the US Mint had sold out of Silver Eagles, selling over 6 million ounces over the first 9 days of sales in 2013, and was shutting down sales and production of Silver Eagles through at least 1/28, and would ration sales of eagles upon resumption of sales.”
The second mint, the Perth Mint just reported that demand for its Gold Kangaroo bullion series has exceeded expectations by 35% The Perth Mint release reads
“There has been a surge in demand for Australian Kangaroo gold bullion coins. Since being released on 1 October, sales of 2013 Kangaroos are 35% ahead of sales of 2012 Kangaroos at this time last year. Combined sales of all 2013 Kangaroo denominations (1kg, 1oz 1/2oz, 1/4oz, 1/10oz) performed even stronger – up 40% on the number of 2012-dated coins sold at this stage 12 months ago.”
It suggests that people are accumulating physical gold and silver bullion as a hedge against the growing uncertainty many people feel is developing. Although future price action is impossible to predict, well for me anyhow, it would seem a good time to add a coin or two to your holdings.