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Record Sales for Gold Bullion & Coins

February 25, 2009 by Administrator 

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San Diego gold buyers and sellers take note. According to the Financial Times, investors are buying record amounts of gold bars and coins. Why? Because they are shunning risky assets for the relative safety of bullion as renewed fears about the health of the global financial system resurface.

The US Mint sold 92,000 ounces of its popular American Eagle coin last month. That is nearly four times the amount it sold a year ago and more than it shipped during the entire first half of 2007. Meanwhile, other countries’ mints have also reported strong sales, with large purchases of coins being seen as a sign of safe-haven gold buying.

The Financial Times reports that traders and analysts have said that jewelry demand, historically the backbone of gold consumption, has collapsed under the weight of the high prices—and that sharp falls in demand in key markets like India, Turkey and the Middle East have capped the potential of any price rally. That lack of jewellery demand has not discouraged investors though. Jonathan Spall, director of commodities at Barclays Capital in London is quoted as saying that Barclays has seen more new enquiries about investing in gold so far this year than during the whole 2008.

The fact that gold is exhibiting all the classic signs of being in a bull market is good news for San Diego gold sellers, because it means that you can expect continued high prices for your gold from local buyers.

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Not convinced yet about the popularity of gold as a solid investment in today’s economy? Then have a look at the following gold asset article: Is Gold Going to Become a Mania Asset?

San Diego Pawn Shops, Gold Buyers, Gold Refineries, & More

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