MarketsInsider/Zahra Tayeb/6-6-2022
“Spectrum said its European Retail Investor Index (SERIX)hit a high of 116 in the past month, indicating the optimism among investors towards bullion, which can serve as a store of value in times of market turmoil or rising inflation. This was the highest such reading since the data series began, Spectrum said.”
USAGOLD note: As noted consistently in these reports, while prices have been trapped in a narrow zone, physical investors have been adding to their coin and bullion holdings at a record pace largely for safe-haven purposes. In the chart below, the World Gold Council shows US Mint bullion gold coin sales on a pace for their best year since 1999. “Considering the macroeconomic backdrop,” says Spectrum’s Michael Hall, “it’s no surprise to see investors looking to take advantage of a dip in the gold price to make safe haven allocations.”
Chart courtesy of the World Gold Council • • • Click to enlarge
Chart note: The green bars in the chart represent actual sales. The grey extension represents projected sales annualized for 2022.
