29 August 2010
Gold Buyers are Back!
Summer doldrums gives way to Gold and Silver buying - Local shortages may cause bottlenecks
The tradional doldrums in the gold and silver markets seems, to us at least, been particularly tedious this year. However as August finishes and September begins, the buyers seem to be back in the physical markets.
However all may not be plain sailing as lack of some gold coins in local markets could be a issue for buyers. We reported last week on a lack of Gold Philharmonic coins for auction and sale, that could point to a shortage of Gold Bullion product in the UK. This situation has not changed and could be a forerunner to other more widespread shortages of Gold Bullion Product that may chase premiums higher.
We will see, but over the last few weeks we have also seen increased interest in Silver and platinum, at the expense of Gold. You can see charts for Gold, Silver and Platinum price comparison demand in the registered users section of BullionSupermarket.com.
The variance in premiums on Gold Bullion products had grown up between UK and US markets lately seems to be normalizing, with US 1 Ounce Gold Bars trading at around 5% with UK Gold 1 ounce Bars at around 4%.