Near-record level of consumer interest in precious metals

ResourceWorldMagazine/Peter Kennedy

photograph of pile of Canadian Maple Leaf one ounce gold coins“When the Royal Canadian Mint reported its first quarter results on May 22, 2020, it said overall global market demand for bullion, due to economic uncertainty surrounding COVID-19 led to higher bullion volumes. It reported that gold volumes were 198,100 ounces in the quarter (up from 123,800 in 2019), while silver volumes were 6.6 million ounces, up from 5.5 million a year earlier. ‘You are going to see bullion volumes similar to the global financial crisis in 2008 and 2009,’ said Levy during an interview with Resource World Magazine.”

USAGOLD note:  We suspect other mints, including the U.S. Mint, are experiencing similar volumes.  Thus far, they have been able to keep up with demand, i.e, premiums are in a range.

Repost from 7-10-2020

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