Comment: Physical sales taking a breather?

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fireant's picture

Physical sales taking a breather?

In another thread, I tried to show Sierra that by mid summer, physical production would catch up and surpass demand; that the "shortages" a few months ago were a manufacturing issue, not a shortage of the metal per se. It seems to be playing out accordingly:

Gold Sales Slump at Australia’s Perth Mint as Rout Deters Buyers
"Gold sales from Australia’s Perth Mint, which refines nearly all of the bullion mined in the country, declined for a second month in June as prices extended a bear-market slump, deterring buyers.
Sales of gold bars and coins totaled 49,460 ounces in June, compared with 92,781 ounces in May and 116,755 ounces in April, according to data from the mint. Sales were 52,704 ounces in March, before the rout, the data show."
Continued at: http://www.bloomberg.com/news/2013-07-04/gold-sales-slump-at...

Undo what Wilson did