- Very high demand for Perth Mint coins, bars coming from Asia, U.S. and Europe

- U.S. Mint sees highest sales of gold coins in over 2 years

- U.S. Mint restrictions on silver coins due to very high demand

- Gold sentiment has moved from despondency to depression (see chart)

- Current negative sentiment despite strong demand is good contrarian indicator

Depressed prices have led to the usual market response, a surge in physical demand for coins and bars globally.This is confirmed in conversations we have had with our refiner and mint partners in recent days. There are growing shortages of supply of small coins and bars.