tag:blogger.com,1999:blog-6089228851855763774.post8806947473594700704..comments2024-02-05T17:24:09.663+08:00Comments on Gold Chat: The Mint is hummingBron Sucheckihttp://www.blogger.com/profile/00530576934994289879noreply@blogger.comBlogger8125tag:blogger.com,1999:blog-6089228851855763774.post-23757924431587492302011-08-15T21:28:38.168+08:002011-08-15T21:28:38.168+08:00I think you questions are best answered by the pos...I think you questions are best answered by the posting of a response from the Perth Mint here http://forums.silverstackers.com/topic-13260-open-letter-to-perth-mint-re-dragon-allocations-answered.html<br /><br />I think when you have requests for 2 million coins when the mintage is 300,000, then everyones allocation is going to be small and so I can see why some think they have been hard done by and others favoured, when in fact allocations were based on past fours years of sales so those dealers who have consistently supported the Lunar program through less popular years are rewarded.Bron Sucheckihttps://www.blogger.com/profile/00530576934994289879noreply@blogger.comtag:blogger.com,1999:blog-6089228851855763774.post-72726794590012238082011-08-15T13:36:09.401+08:002011-08-15T13:36:09.401+08:00Hi Bron, the 2012 dragons have been hyped to a poi...Hi Bron, the 2012 dragons have been hyped to a point of beyond belief now, the Mint included, just read article titled Dragon Prospects Appear Strong. <br /><br />We've read so many rumours on the web and SS as well that overseas dealerships and suppliers are getting preferences if not the bulk of the supplied over local outlets, otherwise hopelessly low limit supplies.<br /><br />Are you in any position to comment on this? Or is the PM blog more appropriate although they're quite hopeless there in responding to inquiries of such nature. Thanks!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-6089228851855763774.post-62275338787894184222011-08-11T19:17:53.395+08:002011-08-11T19:17:53.395+08:00Thanks Bron, I didn't know that. Sorry to go o...Thanks Bron, I didn't know that. Sorry to go off half cocked.Adrianhttps://www.blogger.com/profile/07667460066856874799noreply@blogger.comtag:blogger.com,1999:blog-6089228851855763774.post-73194840339519217372011-08-11T13:13:50.968+08:002011-08-11T13:13:50.968+08:00Justin - We are primarily a physical business so y...Justin - We are primarily a physical business so yes there is good physical demand but I think the ETFs will also show increases as well.<br /><br />Adrian - it is not correct to compare flows to just production volumes, it needs to be compared to gold stocks. Privately held gold is reportedly 30,000t, so 950,000oz equals 0.1%<br /><br />Anon - Premiums on gold coins are priced in % terms, this is industry standard. This % hasn't changed but as prices rise so the dollar amount increases. We also have costs that increase as the gold price increases.Bron Sucheckihttps://www.blogger.com/profile/00530576934994289879noreply@blogger.comtag:blogger.com,1999:blog-6089228851855763774.post-35273141338229522292011-08-11T11:47:55.143+08:002011-08-11T11:47:55.143+08:00It's also interesting to notice that the premi...It's also interesting to notice that the premium for the Mint's minted gold coins are adjusted upwards like like the price of gold almost on a daily basis. The 1oz gold bullion coins used to be around spot + $80 and now around spot + $90 so, of course it is humming.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-6089228851855763774.post-10730575448269580822011-08-09T21:02:23.751+08:002011-08-09T21:02:23.751+08:00Interesting tonight when the FT reported 950,000 o...Interesting tonight when the FT reported 950,000 oz flowed into ETF on Monday, and looking at the WGC figures that amounted to about 2% of the quarterly global production in one day. Whether those ETF were 100% bullion backed is another matter. JPM also said gold to get to $2500 and I immediately think they'll draw the client in and then short it. Anyway, Ben is likely to do more monetary policy later today US time so gold and equities to move higher IMO.Adrianhttps://www.blogger.com/profile/07667460066856874799noreply@blogger.comtag:blogger.com,1999:blog-6089228851855763774.post-64081664518239052362011-08-09T15:54:14.456+08:002011-08-09T15:54:14.456+08:00Silver isn't monetary at the moment. At least...Silver isn't monetary at the moment. At least not very. Industrial pressures dominate pricing.<br /><br />So when the world gets topsy turvy financially, silver doesn't rise.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-6089228851855763774.post-22137432889520680852011-08-09T13:09:01.807+08:002011-08-09T13:09:01.807+08:00"the price of gold will continue to rise, eve..."the price of gold will continue to rise, even after hitting another record of $US1,720 an ounce."<br /><br />He was right, it hit $1770. If the mint is really humming, it shows demand for physical, as opposed to GLD etc?<br /><br />What about silver? the price doesn't seem to be moving much.Justinnoreply@blogger.com