- Royal Mint: Demand Surge Continuing In June After Demand Trebled In April!
by Mark O’Byrne, http://www.goldcore.com/
… However, physical demand remains robust internationally as seen in the demand figures coming from refineries and government mints. Mints from the Perth Mint in Australia to the U.S. Mint, to the Austrian Mint and the Royal Mint in the U.K. continue to report a surge in sales after gold’s recent price falls led to a marked increase in physical demand.
Britain’s Royal Mint, which saw its gold coin sales triple in April, said the surge in demand has continued into June. British people are diversifying into gold due to concerns about the UK property market and the risk of inflation.
As a result of a zero interest-rate environment, many investors and savers in the UK have shown increased interest in gold coins in recent years in order to preserve wealth. British sovereign and Britannia gold coins are especially attractive given their capital gains tax free status which makes them far more attractive than ETFs and all other forms of gold ownership in the UK.
“Since the dip in the price of gold, the Royal Mint has seen a steep increase in demand for its gold coins which has continued over recent weeks,” Shane Bissett, director of bullion and commemorative coin at the Royal Mint, told Bloomberg. “An additional attraction for customers based in the UK is that gold coins are VAT free and capital gains tax free”, said Bissett.