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Monday, 6th April 2009 (1395 views)

Mints around the world are increasing the numbers of gold coins they produce in response to growing levels of demand, a report has claimed.

According to the Independent, savers are seeking safer investments and this has led to shortages in certain countries, as some people believe that gold assets "may be immune to the global financial crisis".

The Austrian Mint has quadrupled the number of Philharmonic gold coins it produces, while the Perth Mint has frozen new orders for gold coins as it struggles to keep up with demand.

In the US, sales of American Eagle gold bullion coins soared by over 400 per cent last year and Russia's Sberbank has reported unprecedented levels of demand, the newspaper stated.

Sandra Conway of ATS Bullion recently suggested that the rise in the number of investors purchasing gold had risen as people attempted to protect their money in the wake of the credit crunch, the Economist reported.

 

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