Rise in gold and dealer supply

[jultorsk]

More of the same from Reuters. https://www.reuters.com/article/health-coronavirus-swiss-gold/swiss-gold-sales-surge-as-wary-investors-snap-up-precious-metals-idUSL8N2BH5HM

“We are in principle completely sold out. You can already say that,” said Philipp Bachofen, from Geiger Edelmetalle in St. Margrethen, close to the border with Austria. 

“In the last few weeks, it’s all about getting gold,” he said, adding there were many smaller customers buying smaller bars while the bigger customers tended to favour 250 gram bars. 

Supply has tightened as gold refineries in Switzerland reduce production. 

“This has brought additional stresses to the system,” said Andreas Habluetzel, CEO of precious metals retailer Degussa Goldhandel. 

“For us, the demand increased tenfold last week, but we have a stock of several thousand bars,” he said. “So I expect we will be the last to go out of business.”