5 business days into 2014, the U.K.’s Royal Mint, which traces its history back more than 1,000 years, has run out of 2014 Sovereign gold coins due to “exceptional demand”. “Since the dip in the price of gold we have seen increased demand for our gold bullion coins from the major coin markets, and this this presently shows no sign of abating,” the U.K. mint commented. “The Royal Mint continues to supply to its customers and is increasing production to accommodate the higher demand.”
Today’s AM fix was USD 1,226.00, EUR 900.61 and GBP 744.97 per ounce.
Yesterday’s AM fix was USD 1,226.50, EUR 902.50 and GBP 747.37 per ounce.
Gold fell $7.40 or 0.6% yesterday, closing at $1,224.90/oz. Silver slipped $0.31 or 1.56% closing at $19.56/oz. Platinum inched down $0.26, or 0.26%, to $1,410.49/oz and palladium fell $5.03 or 0.7%, to $733.47/oz.
Gold is slightly higher today but lower this week. Investor sentiment remains extremely bearish but physical buyers continue to accumulate at these low prices. The UK Royal Mint has run out of 2014 British gold sovereigns due to unprecedented demand.
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