Retail Holders Sell Their Gold – Precious Metals Supply and Demand

by Keith Weiner
Acting Man

A Myriad of Reasons to Buy Gold – But Small Holders are Selling

Big moves occurred in the prices of the metals last week, with that of gold up $57 and silver $0.77. We have now reached a price of gold (if not silver) not seen since 2013, when it was on the way down. What is causing this sudden spike in price and renewed interest in gold?

[…] Well, first the bad news. According to every retail dealer with whom we have spoken, worldwide, the rising price has generated lots of customer selling. At retail, long-suffering gold holders are taking advantage of the price to unload. Perhaps they’re thinking, “whew! I can finally get out!” We don’t bring this up to blame them, but to point out that retail is a countervailing force. They are certainly not driving the price action.

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