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IPMI and Industry News: Gold Market News

Gold dealers in Switzerland are rushing to keep up with a surge in demand as worried investors seek

Tuesday, March 24, 2020   (0 Comments)
Posted by: Matt Watson
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Swiss gold sales surge as wary investors snap up precious metals

Paul Arnold, John Revill

 

ZURICH, March 24 (Reuters) - Gold dealers in Switzerland are rushing to keep up with a surge in demand as worried investors seek out lower risk investments in precious metals with financial markets roiled by the coronavirus pandemic.

Some sellers 10x increase in sales of gold bars, coins.

Retailers have extended opening times and also tried to take on extra staff to deal with the rising demand, which is being channeled online as shops are shuttered on government orders to contain the virus.

We are completely sold out. - Geiger Edelmetalle in St. Margrethen

Degussa Goldhandel - Supply has tightened as gold refineries in Switzerland reduce production.  10x demand last week.  Still holding inventory.


Read the full article here:  https://www.reuters.com/article/health-coronavirus-swiss-gold-idUSL8N2BH5HM

 

 

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