http://www.bloomberg.com/news/2013-...ng-of-business-at-australia-s-perth-mint.html
Gold sales from Australia’s Perth Mint, which refines nearly all of the nation’s bullion, surged after prices plunged, adding to signs that the metal’s slump to a two-year low is spurring increased demand.
“The volume of business that we’re putting through is way in excess of double what we did last week,” Treasurer Nigel Moffatt said by phone, without giving precise figures. “There’s been people running through the gate.”
Jim Rogers Thinks Gold Will Resume Its Bull Market
A few months ago, when gold was enjoying some of highest prices ever seen, Jim Rogers rained on investors' parades, calling for a 20%-30% correction in gold prices. While he cited a number of reasons for this necessary correction, his main point was that gold had 12 straight winning years with only one correction over that period. This kind of growth was unheard of in the commodity markets, with Rogers assuming that the price of the yellow metal would eventually crumple.
Even with this pessimistic outlook, Rogers continued to hold the doomed commodity in his portfolio in hopes that after gold prices bottomed out they would return to a sustainable level.
Read more: http://www.nasdaq.com/article/jim-r...resume-its-bull-market-cm241144#ixzz2RamnZUHa
Gold sales from Australia’s Perth Mint, which refines nearly all of the nation’s bullion, surged after prices plunged, adding to signs that the metal’s slump to a two-year low is spurring increased demand.
“The volume of business that we’re putting through is way in excess of double what we did last week,” Treasurer Nigel Moffatt said by phone, without giving precise figures. “There’s been people running through the gate.”
Jim Rogers Thinks Gold Will Resume Its Bull Market
A few months ago, when gold was enjoying some of highest prices ever seen, Jim Rogers rained on investors' parades, calling for a 20%-30% correction in gold prices. While he cited a number of reasons for this necessary correction, his main point was that gold had 12 straight winning years with only one correction over that period. This kind of growth was unheard of in the commodity markets, with Rogers assuming that the price of the yellow metal would eventually crumple.
Even with this pessimistic outlook, Rogers continued to hold the doomed commodity in his portfolio in hopes that after gold prices bottomed out they would return to a sustainable level.
Read more: http://www.nasdaq.com/article/jim-r...resume-its-bull-market-cm241144#ixzz2RamnZUHa
