Sliding gold coin sales show that retail demand for the
actual metal is clearly fading, but dealers and analysts say it is not because
investors are less concerned about the financial turmoil around the globe, CNBC
reports. There's just not the same fervor for the precious metal as in recent
years.
"This is the first time in our economic history that we
have a situation where there is such tremendous economic uncertainty and global
fear when gold has not skyrocketed in tandem," said gold dealer Lee
Rosenbloom, owner of Plaza 57 Appraisals and Plaza Collectibles in New York.
COMEX gold futures have declined 9.5 percent, nearly $200,
from the 2012 peak near $1,800 an ounce, and prices over the past 12 months are
basically flat. As for the physical metal, declining sales in U.S. gold coins -
a real-time proxy for retail investment demand - along with a somewhat stagnant
gold futures price indicate the frenzy over gold has calmed, but it's certainly
not been crushed....
There’s more where that came from at http://finance.yahoo.com/news/gold-rush-over-175820898.html
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