“Swamped by gold demand, Perth Mint stops taking orders”
By Daniel at 21 November, 2008, 8:28 pm
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By Sarah-Jane Tasker
The Australian, Sydney
Saturday, November 22, 2008
http://www.theaustralian.news.com.au/business/story/0,28124,24687337-643,00.html
Fears of the unknown long-term effects from the global financial crisis have sparked a new gold rush.
With retail and wholesale clients around the world stocking up on the precious metal, the Perth Mint has been forced to suspend orders.
As the World Gold Council reported that the dollar demand for gold reached a quarterly record of $US32 billion (A$50.73 billion) in the third quarter, industry insiders said the race to secure physical gold had reached an intensity that had never been witnessed before.
Perth Mint sales and marketing director Ron Currie said the unprecedented demand had forced the Mint to cease orders until January, with staff working seven days a week, 24-hour days, over three shifts to meet orders.
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