Gold Trust Holdings are Indicative of Gold Pricing...

On December 30th, 2008, SPDR Gold Trust (GLD) announced that its holdings have risen to a new record.

SPDR Gold Trust is the world’s largest gold-backed, exchange-traded fund. The trust issues securities that are backed by physical gold. The trust’s physical holdings rose a staggering 5 tons on December 29th to an all-time record high. The rise, which indicates a three percent gain (22.1 tons) for the month of December, rose from 775.33 tons on December 26th to 780.23 tons in total holdings.

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Gold Demand Encourages Consumers to Sell Gold

The modern-day gold rush has extended to Austria….

As the financial crisis has extended globally, gold coins have become a safe haven for investments as a hedge against inflation.  South African Krugerrands, American Buffalos, and American Gold Eagles have been purchased in vast quantities as of late forcing most mints to work at capacity in order to fulfill demand.

Interest in Austrian gold has risen as well.  The Austrian Vienna Philharmonic is another of the world’s best-selling gold bullion coins.  The demand for the Austrian Vienna Philharmonic coins has resulted in the Austrian Mint trying to keep up with demand, as production is at capacity.

The Austrian Mint is located in Vienna and was founded more than 800 years ago.  Demand for the Vienna Philharmonic is up 230% this year versus last year at this time.

Analysts have called the demand for gold “panic buying” due to consumers looking for security in an insecure economy.  Do you have old or broken gold?  Get cash for your gold today at Cash4Gold!  Visit www.cash4gold.com for more information about how to sell your gold!