Scramble for Physical Gold and Silver Continues

“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

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

“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.”

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

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

2013-04-18 07:07:11

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