Demand For Gold In Europe Skyrockets On Greece Fears

Demand in Europe for gold is on the rise by Greek customers. Sovereign gold coins sold at double the five-month average in June, the UK Royal Mint stating in an email.

Sales on Saturday and Sunday were the highest since Cyprus limited cash withdrawals in 2013, thanks to increased German, French and Greek buying.

“Most of our common gold coins are sold out,” Daniel Marburger, a director of Frankfurt-based CoinInvest.com, said by phone. “When people learned that the Greek banks will be closed, they started to think that it may not be such a bad idea to have some money in gold.”

In La Jolla, gold demand has also increased as far as we can tell in our little shop. Not only have we been selling an assortment of bullion coins, but demand for pre-1933 gold coins as increased handsomely. Sellers, as well, have taken advantage of the highest gold price in recent months.