increased demand for gold

Financial turmoil sparks gold rush
Posted 1 hour 32 minutes ago


Investors are turning to gold in the midst of global financial uncertainty. (Perth Mint)

The Perth Mint says there has been an unprecedented demand for gold, in the wake of the global financial crisis.

The Treasurer Nigel Moffatt says there is been about a five-fold increase in demand for small amounts of gold, ranging from coins to 10 ounce bars.

He says investors have historically turned to gold in times of financial uncertainty.

Mr Moffatt says stocks in the smaller amounts of gold are now running low, and the Mint is looking at ways to top up its supplies.

"What we're actually having to do is look at the supplies of larger bars we've got, and then, trying to fit in to our existing production capacity the production of smaller, investment-sized bars from these large London-good delivery bars that we actually have in our stock," he said.