Gold and Silver Demand Rampant
It appears demand is not easing up. After a strong December, official numbers of gold in to China for 2013 are now known at an incredible 1158t (twice that of 2012 and 1500t incl HKG). After setting records in 2013 demand for coins is not letting up with Austria’s Mint announcing 24 hour shifts to keep up, US Mint on track for its biggest month since April last year when prices dropped, Perth Mint (also running 3 shifts per day) stated they expect January to exceed last year’s record and the UK Mint sold out of 2014 coins after “exceptional demand”. On top of this the Silver Institute is forecasting a 6% rise to an all time record level of industrial demand in 2014 for silver accounting for over 57% of global supply.