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Article: Panic leads to gold coin rush.(Investment)(Brief article)
- Article from:
- African Business
- Article date:
- February 1, 2009
CopyrightCOPYRIGHT 2009 IC Publications Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The global supply of gold coins is drying up, says the South African Gold Coin Exchange. "Unsurprisingly, coin dealers the world over are starting to run out of stock of all manner of gold coins," reports Alan Demby, executive chairperson of the exchange.
He says investors are "rushing to safety" in the current financial crisis, and clamouring to buy gold in its physical form. Traders confirm that it has become extremely difficult to buy gold bars or coins. "People are panicking," says Demby. "They're looking for a tangible asset. ...