Gold Bullion Coin and Bar Shortages Continue and Deepen

Editors Note: The shortage of gold bullion coins and bars continues and appears to be deepening. It is not just smaller one ounce bullion coins and bars that are sold out and increasingly unavailable but also larger gold and silver bars including gold kilo bars (32.15 ozs) worth and 1,000 oz silver bars. Refineries, government mints and brokers around the world have raised premiums.

We are selling Gold Britannias (1 oz) bought directly from the Royal Mint
at just $1,705 per coin based on a spot price of $1,612/oz



Gold Dealers Report Big Shortages of Small Bars and Coins

(Bloomberg) — When people are worried about the future they turn to gold to protect their savings. That’s rarely been more true than today.

Surging demand and disruptions from the coronavirus pandemic have created a shortage of the small gold bars most popular with consumers. Those who do manage to get their hands on metal have to pay up –- well above the per-ounce prices being quoted on financial markets in London and New York.

Some dealers are desperately contacting clients to see if anyone is willing to sell their gold bars and coins, and offering a rare premium over spot prices. Others have given up trying to trade altogether.

“People want to buy, not to sell gold,” said Mark O’Byrne, the founder of GoldCore, a dealer based in Dublin. “We have a buyers’ waiting list and we emailed our clients seeing who wished to sell their gold. At this time there is roughly only one or two sellers for every 99 buyers.”

Read on Bloomberg or on Yahoo Finance

Watch Yesterday’s Live Video Update

◆ Gold and Silver Coin and Bar Premiums – What Is Happening?

◆ Premiums are higher on gold and silver coins and bars, both when you buy and when you sell, and may stay higher in the “new normal.”

◆ Bullion coin and bar premiums are not commissions and brokers only make a small component of the premium in what is a very low margin business.

Beware of aggressive pricing strategies on coins and bars and focus on getting value with regard to premiums.

◆ GoldCore remains open for business and when they become available we are buying coins and bars from our government mint and large refinery suppliers and from our clients. While oremiums have surged, we have kept our premiums very competitive. We are paying 1.5% over spot gold to clients for gold kilo bars and higher premiums for smaller bars and bullion coins (1 oz).

We are only selling to clients who have cleared funds on account and are on our Buyers List as we simply cannot meet the demand we are experiencing.

Watch interview here


GOLD PRICES (USD, GBP & EUR – AM/ PM LBMA Fix)

01-Apr-20 1594.25 1576.55, 1288.95 1270.23 & 1457.94 1442.86
31-Mar-20 1604.65 1608.95, 1299.61 1296.81 & 1461.52 1468.81
30-Mar-20 1624.35 1618.30, 1312.56 1305.97 & 1466.88 1466.02
27-Mar-20 1621.20 1617.30, 1325.33 1316.16 & 1473.18 1469.48
26-Mar-20 1620.10 1634.80, 1361.37 1358.19 & 1480.12 1487.01
25-Mar-20 1620.95 1605.45, 1357.22 1371.38 & 1494.84 1486.17
24-Mar-20 1599.50 1605.75, 1362.61 1371.47 & 1472.98 1489.49
23-Mar-20 1494.50 1525.40, 1288.86 1312.91 & 1399.60 1411.00
20-Mar-20 1504.45 1494.40, 1275.32 1258.28 & 1400.34 1391.59
19-Mar-20 1480.70 1474.25, 1285.54 1257.83 & 1369.94 1365.89
18-Mar-20 1506.00 1498.20, 1254.50 1271.22 & 1367.00 1378.04


Receive Our Award Winning Market Updates In Your Inbox – Sign Up Here

Mark O'Byrne

Also on news-goldcore-com

Videos

Silver Price Prediction 2022: David Morgan

Gold In 2022- Very Bullish Chart Patterns Developing

Why Buy Gold In 2022

Blog posts

European Energy Crisis: 4 Things You MUST Know!

European Energy Crisis: 4 Reasons You MUST Know! European households are facing rising prices on many goods and services, but one particular standout is electricity and gas bills. According to Bank of America, European household gas bills are expected to rise to €1,850 in 2022 from €1,200 in 2020 (an ~55% increase). Natural gas prices […]

READ MORE

Silver Price Prediction 2022: David Morgan

This week, ‘The Silver Guru’ David Morgan of The Morgan Report joins Dave Russell to explore what might happen in the silver market in 2022, as well as what makes silver the world’s most undervalued metal. Watch the full episode to learn more. Click the Video Below to Watch Make sure you don’t miss a […]

READ MORE

Goldman Sachs Shades Gold For Bitcoin As Store Of Value

Goldman Sachs Shades Gold For Bitcoin As Store Of Value A Goldman Sachs (GS) research note published on January 5, 2022, has captured headlines on the major news websites along with Twitter. The note suggests that gold currently holds 80% of the market for money-seeking exposure to “store of value” markets whilst Bitcoin now holds […]

READ MORE

Featured

Gold, the Tried-and-True Inflation Hedge for What’s Coming!

READ MORE

How High is Too High for Rising Government Bond Yields?

READ MORE

Silver – 7 Reasons it is Still Set to Soar

READ MORE
Newsletter
Category
Archives
Popular

No posts available

Videos

Silver Price Prediction 2022: David Morgan

Gold In 2022- Very Bullish Chart Patterns Developing

Why Buy Gold In 2022

Blog posts

European Energy Crisis: 4 Things You MUST Know!

European Energy Crisis: 4 Reasons You MUST Know! European households are facing rising prices on many goods and services, but one particular standout is electricity and gas bills. According to Bank of America, European household gas bills are expected to rise to €1,850 in 2022 from €1,200 in 2020 (an ~55% increase). Natural gas prices […]

READ MORE

Silver Price Prediction 2022: David Morgan

This week, ‘The Silver Guru’ David Morgan of The Morgan Report joins Dave Russell to explore what might happen in the silver market in 2022, as well as what makes silver the world’s most undervalued metal. Watch the full episode to learn more. Click the Video Below to Watch Make sure you don’t miss a […]

READ MORE

Goldman Sachs Shades Gold For Bitcoin As Store Of Value

Goldman Sachs Shades Gold For Bitcoin As Store Of Value A Goldman Sachs (GS) research note published on January 5, 2022, has captured headlines on the major news websites along with Twitter. The note suggests that gold currently holds 80% of the market for money-seeking exposure to “store of value” markets whilst Bitcoin now holds […]

READ MORE

Featured

Gold, the Tried-and-True Inflation Hedge for What’s Coming!

READ MORE

How High is Too High for Rising Government Bond Yields?

READ MORE

Silver – 7 Reasons it is Still Set to Soar

READ MORE