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“Gold bullion products are becoming more and more sought after as a hedge against uncertainty, and gold continues to hit all-time record highs,” say PMX Gold officials in a statement.
Marcus Grubb, managing director of investment for the World Gold Council, agrees.
“There was very strong demand for gold in third quarter, and it appears that the gold industry is headed for a record year,” Grubb said. Demand for gold jewelry in China and India, coupled with a revival in the use of gold by industry, are key factors driving up gold tonnage and gold prices. The most important dynamic driving up gold prices is the difficult economies in some countries.
“The marketing of physical gold bullion in the United States has traditionally lacked fair pricing, quality control and acceptance by the general public due to non-standardized distribution methods,” company officials say.
A vending machine that sells gold is installed in a Florida mall | ATM Marketplace