Demand for Gold Soars, Suppliers Struggle to Keep Up

2020-4-25 20:15

Sales of minted gold bars have spiked to the highest level since 2013. However, suppliers have been struggling to provide amid the surge of demand.

Demand for gold is booming. As worries surrounding COVID-19 and the global economy persist, investors are flocking to precious metals. However, suppliers have been struggling to ship gold bars, and prices continue to be out of sync.

Gold Demand Surges

As Bloomberg reported, Australia’s largest gold refinery is ramping up production amid the surge in demand. [Bloomberg] At Perth Mint Refinery, production of kilobars has grown substantially, but deliveries have been difficult. The breakdown of global supply chains has caused headaches for many gold suppliers.

The issues have been significantly affecting global gold markets. Prices have been out of sync throughout the world. As BeInCrypto reported last week, New York gold futures have been trading at a premium of $70 in some cases over London spot prices.

Gold suppliers hope that this is merely a short-term arbitrage issue.

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Источник: beincrypto.com

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