The Australian Mint's gold coin output increased by 54% last year, demand for gold is strong – Australian News – Sydney
2014-01-29 14:24:20 Source: Sina Finance Original Website Nikiedit
The falling gold price stimulated the demand for physical gold (1253.00, -3.80, -0.30%), and the sales of gold coins from the Perth Mint in Australia surged.
Neil Vance, wholesale manager of the Pace Mint, said that since the price of gold fell sharply in April last year, the Mint had to add extra shifts to speed up production due to the sharp increase in sales. The sales throughout 4 were very good.
Vance said: "We have started three shifts since April and had to add two more shifts on Saturday in July."
Vance said that due to the arrival of the Chinese Year of the Horse, demand this year is still very strong, and sales are expected to increase by 2013% from 2014 to 20.
"There is no doubt that people go back to the market to retest the price, and they will reinvest once they feel that the price has bottomed."