Gold rooster coins are a hot commodity

SINGAPORE (Feb 16): The Perth Mint, which refines nearly all the bullion output from the world’s second-biggest producer, sees rising sales this year as global concerns trigger demand for haven assets.

Uncertainty over the new leadership in the US and concerns over bank debt issues in Europe, as well as a drop in prices and demand for special edition Lunar New Year coins, helped boost sales recently, said Neil Vance, group manager of minted products at The Perth Mint. About 80% of the mint’s coins and minted bars are exported to the US and Germany, he said.

“Certainly in terms of geopolitical issues, we still see people moving into precious metals for that safe haven,” Vance said in an interview on Feb. 14 from Perth, Western Australia. “We still see upside for having a good end to our financial year.”

---

Related Stories

• Women are gold’s secret powerhouse: Julius Baer
• What to note when investing in commodities, Part 2
• First Venezuela, now Iran. For the markets, it’s one battle after another

---