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Gold and silver bullion in strong demand: Royal Canadian Mint

Gold and silver bullion in strong demand: Royal Canadian Mint

The Royal Canadian Mint has reported that demand for gold and silver bullion products remains "very strong," said an according to Kitco.

"Year-to-date, after the second quarter, we've had record volume for silver Maple Leafs, the greatest we've had in the over 25 years that we've produced them.

We've seen near-record volume, only second to 2000, year-to-date, for our gold Maple Leafs," said Chris Carkner, managing director, sales, for bullion, refinery and exchange-traded products at the Royal Canadian Mint.

"When prices drop in the market, then people see it as a buying opportunity," Carkner told Kitco News on the sidelines of the American Numismatic Association's World's Fair of Money.

Volumes come primarily from North America, with solid demand also from Europe and Asia.

The heightened demand for bullion products has left many mints struggling to find supply to produce coins. That's not been an issue for the Royal Canadian Mint as it refines its own gold for coins.

Bullions sales for the year are still strong, but Carkner declined to forecast trends for the rest of the year, saying the mint does not speculate on price or volume. He only would say that they are "optimistic" about volume.

The Northern Hemisphere summer is traditionally a slow time for coin and metal sales, but that's not the case this year where demand continues to be strong.

Source: Kitco


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