Loading ...Gold Tumbles Despite UK Mint Seeing Europeans Rush To Buy Bullion
European investors are increasing purchases of gold as Bloomberg reports, Greece’s turmoil boosts the appeal for an alternative to the euro. Demand from Greek customers for Sovereign gold coins was double the five-month average in June, the U.K. Royal Mint said in an e-mailed statement.As one Frankfurt-based bullion dealer noted, “most of our common gold coins are sold out, when people learned that the Greek banks will be closed, they started to think that it may not be such a bad idea to have some money in gold.”
Emailed statement from UK Mint…
“During June, we experienced twice the expected demand for Sovereign bullion coins from our customers based in Greece,” accord. to e-mailed statment from U.K. Royal Mint.