Gold Demand Increases In San Diego
The market data this week has been all over the place, and the debate rages on about whether or not interest rates will stay as they are throughout the year or not. It seems gol demand is increasing.
Jobs data has sent the dollar higher, which has not deterred gold’s movements this past week, which has been northward. Furthermore, although demand was down in April, demand has increased quite a bit in May and many people foresee this trend continuing.
At United Coin & Precious Metals in La Jolla, California, we have seen increased buying of gold from San Diegans. The sorts of products we have seen go out the door this week range from American Gold Eagles to Platinum coins. We predict that gold demand has increased by 40% in the last month alone.
Many people believe that the gold market will, at least, remain rangebound.
As mainstream pundits even recognize, people are very much struggling and, at a future date, when they lose money in the stock market, they will be forced to look into other stores of value.
Through the summer and into the end of the year United CPM plans to see an increase of demand for our gold products, based on certain trends unfolding in the markets as well as what we’ve seen from a foot traffic point of view.
Not only are individuals purchasing gold and silver bullion, as well pre-1933 gold coins, they are selling gold jewelry and silver jewelry at an increasing pace, which we see as generally bullish for sentiment.