Offshore Capitalist

Royal Mint cashes in as gold market coins it

The Royal Mint has dramatically ramped up production of gold coins as demand for the precious metal continues to surge.Production more than quad­rupled to 32,735.8 ounces – just over one tonne – in the third quarter, from 7,500.2 ounces in the same period last year.

The increase is even more striking considering that the third quarter of last year had seen increased demand for gold as a investment haven amid the financial crisis.

“Business is very good,” said Sonia Hellwig, a director at JTS Partners, a leading European wholesaler of gold coins and bars.“Last year was when the man in the street started to think about investing in gold. Attitudes have clearly changed since last autumn.”

via / Commodities – Royal Mint cashes in as gold market coins it.

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