Hunger for gold continues

Gold market update for Friday, April 26. In the midst of the worst beating earlier this month, physical demand for gold has surged across the world – most notably in Asia. Through yesterday, the US Mint reported its sold over 196k ounces of gold, which is three times the volume sold in March. In India, physical gold sales have exceeded the highest record by 20%. Gold premiums in Hong Kong and Singapore are at 18-month highs. The spike in physical demand following the rout in the paper gold market has exceeded all expectations, and is attracting other high profile hedge fund buyers. Read more…