Wednesday, June 2, 2010

Premiums On U.K. Bullion Coins Rising

Formerly 3%, the premium for a U.K. sovereign has risen to above 7% over the last month and may rise further. There seems to be a supply squeeze developing.

In the U.S., sales fo American Eagles for May have beaten all months since January of 1999. "Tyler Durden" comments:
As the US Treasury will gladly tell you, there are some products for which demand increases proprtionally with price. While Tim Geithner would like you to believe this means Treasuries, gold is rapidly replacing Treasuries in this regard. As to questions about whether gold is in a bubble, we can’t claim to know the answer at this point. Please ask us again when gold trades at $5,000.

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