Gold Demand is Growing Rapidly
- Investors have increased allocation to gold as a result of a flight to quality and concerns about general macroeconomic trends
- Identifiable investment demand for gold has increased by 152% over the last twelve months
- Assets in “GLD ETF” have grown from $21.6Bn in 2008 to over $40Bn today
Gold Bullion Demand is also Growing Rapidly Despite the Difficulty in Buying and Storing
- Enormous amount of gold is already owned (ETFs account for a small portion)
- Gold bar holdings increased 60% in 2008 vs. 2007
- Retail coin demand, despite 3-5% premiums, increased 44% in 2008 vs 2007
- Sales of American Eagle pieces have increased 400% in the U.S,. over the last year (Reuters)
- In Q4 of 2008, the U.S. Mint ran out of gold coins to sell to the public
- Respected and influential investors have converted their gold ETF holdings to bullion
- Over $1.5Bn of gold bullion is stored with 2 direct to consumer websites, notwithstanding their lack of institutional quality security and transparency
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