ML-Implode News - Gold: While Investors Sell, Collectors Stocking Up On Real Metal

Even though investors can't seem to unload gold fast enough, coin collectors are benefitting, reports Bloomberg.Â U.S. Mint gold-coin sales jumped for a fourth straight month, the longest streak since 2003. And in India, despite the fall in sales of jewelry due to demonetization, gold imports remained stable at around 100 tonnes in November (from 97 tonnes in October).
According to Bloomberg Intelligence, the five-year average gold premium is typically around $5.50 an ounce in China, but has soared to almost $40 an ounce, as falling prices invite "bargain buying" among the Chinese. As the Financial Times reports, China has curbed gold imports as the government tries to clamp down on capital leaving the country, along with the yuan falling to its lowest against the U.S. dollar in eight years.

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Gold: While Investors Sell, Collectors Stocking Up On Real Metal