Physcial gold demand soars

Numismatic News/Patrick Heller/10-6-2022

image of 500 gram gold bar with chart in background“It turns out that physical gold demand in China and Turkey is so strong that importers are paying significant premiums above the world gold spot price to secure supplies. In China, importers are paying $20-$45 per ounce over the spot prices. In Turkey, a nation ravaged with very high inflation, importers are paying $80 per ounce above the spot price.”

USAGOLD note: Heller updates on the physical shortages developing around the globe – a circumstance he sees as boding well for October’s price action.

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