GOLD Rush - It's begun in Australia (according to a news article)

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maveri's picture
maveri
Status: Silver Member (Offline)
Joined: Nov 20 2008
Posts: 159
GOLD Rush - It's begun in Australia (according to a news article)

http://www.news.com.au/business/story/0,27753,24894346-462,00.html

It looks like the rush for GOLD in Australia has started already (according the the news article - I am aware of posting 'newsy' articles due to their sensation headline grabbing tactics but I thought it was important this time).

Whilst the reasons for declaring a GOLD rush are in my view done with a little poetic licence, it is interesting to note the Perth Mints response - to suspend certain GOLD sales etc

Quote: Perth Mint's bullion sales rose 194 per cent in the December quarter compared with the corresponding period in 2007, while silver bullion sales were up 140 per cent. (end Quote).  Yes - comparing things to a year ago isn't exactly reason to declare a rush by itself - hence the poetic licence comment.

Quote: The mint has suspended sales of all gold bars and all bullion coins - except its 1oz "Kangaroo" gold bullion coin.

On Monday, after a three-month suspension, it will expand its range of bullion coins for sale but the restrictions remain in place for minted gold bullion bars so the mint can sell some gold to as many customers as possible." (end Quote)

Interesting times indeed...

Woodman's picture
Woodman
Status: Diamond Member (Offline)
Joined: Sep 26 2008
Posts: 1028
Re: GOLD Rush - It's begun in Australia (according to a ...

Bullion coin demand is up but the mint's suspension of sales seems more to do with hitting the limit of their production rate than a limited supply of gold or a huge "rush" to gold.  Some of the online dealers I've been watching the last few months seem to have better supply and lower premiums right now than this fall.

El-Capitan's picture
El-Capitan
Status: Member (Offline)
Joined: Jan 10 2009
Posts: 2
Re: GOLD Rush - It's begun in Australia (according to a ...

I've had trouble finding sources of gold bullion in NSW. Can you provide links to these online sites you speak of please woodman?

Thanks.

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