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Can't Keep Up With Physical Coin and Bar Demand

Physical Coin and Bar Demand
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EDITOR NOTE: Gold and silver had an incredibly nice run since the Covid crash bottomed in March 2020. Gold is up 27%, while silver soared an astounding 135%. The dollar, on the other hand, sank 12.3%. With such demand for the yellow and white metal boosting prices, here’s a little secret that very few investors know. Ed Moy, US Mint director from 2006 to 2011 says it best: “Not only the U.S. Mint, but other Mints around the world, Australia’s Perth Mint, the Mexican Mint, have all run out of gold, they can’t keep it in spot and there are so many shortages retailers are having problems accessing that gold.” What does this all mean? There’s more paper gold and silver out there than the actual metals. Given the increasing monetary and industrial demand for both, what do you think is going to happen to the price when most of the world finds out that the vaults are virtually empty?

As Petula Clark once sang, “A sign of the times.”

As I tried to buy physical silver from GoldSilver.com, I was denied. Item currently not available!

Unfortunately, we are seeing shortages of both physical gold and silver. Check out gold and silver prices against the US Dollar since Covid outbreak in March 2020. Gold is up 27% since March 18, 2020 and silver is a whopping 135%!

Physical Coin and Bar Demand

The US Dollar has lost 12.3% since March 20, 2020.

Physical Coin and Bar Demand

Ed Moy, who was the director of the U.S. Mint between 2006 and 2011, cites the inability of the mints around the world to keep up with physical coin and bar demand as a reason for this shortage.

Not only the U.S. Mint, but other Mints around the world, Australia’s Perth Mint, the Mexican Mint, have all run out of gold, they can’t keep it in spot and there’s so many shortages retailers are having problems accessing that gold,” Moy told Michelle Makori, Kitco’s editor-in-chief.

Want to be scared into buying physical gold and silver? Or gold/silver mining stocks?

Physical Coin and Bar Demand

Original post from Confounded Interest

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