Demand for physical gold at these lower price levels is still at historic highs
Demand for physical gold at these lower price levels is still at historic highs. The US Mint has sold more gold buffaloes so far this year than it did in the entire 2012 year. Physical gold stock in CME’s COMEX warehouse has dropped to its lowest level in 5 years and US gold stocks have fallen 30% since February, 7% just last week! This is largely gold reserves backing paper going to those wanting physical.