Salient to Investors:
Mohit Kamboj at Bombay Bullion Association said a rush in India to buy jewelry and coins will boost gold imports this quarter as traders and banks run out of inventory.
The US Mint sold 153,000 ounces of American Eagle gold coins in April, the highest in almost three years.
Tim Gardiner at TD Securities said the gold price is finally reacting to the physical demand as reports of record demand keep coming in from around the globe with retailers in North America, Europe and Asia-Pacific all out or running out of stock as buying interest overwhelms supply.
Nigel Moffatt at Perth Mint is seeing enormous numbers of people, and they are all buying. Moffatt said there has been continued buying interest, particularly into China.
Holdings in ETPs backed by gold are at the lowest since January 2012, assets in the SPDR Gold Trust dropped to the lowest in three years.
Read the full article at http://www.bloomberg.com/news/2013-04-19/gold-gaining-as-physical-demand-said-to-be-extraordinary-.html
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