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Blanchard says investor demand for physical gold has caused major shortage of product in the market
Year-end price target of $1,150 still in sight as fundamentals remain firm
NEW ORLEANS (August 21, 2008) – Blanchard and Company has seen robust investor demand for physical gold in recent weeks, so much so that the U.S. Mint and gold suppliers cannot provide many products, including one ounce American Eagles, American Buffaloes, and Krugerrands, says David Beahm, Vice President of Marketing and Economic Research for Blanchard and Company.
“As of right now, physical bullion from the U.S. Mint and other sources is just not available,” Beahm says. “The recent declines in the price of gold have resulted in the reemergence of long-term investors who are dollar cost averaging down their purchases, and new investors are seeing this as a great buying opportunity and are entering the market.”
Beahm says that no timetable has been established for when new supply will become available, and the current lack of supply, coupled with gold’s fundamentals, only re-solidifies the company’s year-end price predictions for new record highs for the metal.
“We see gold achieving $1,150 by the end of the year, and there’s nothing in the macro economic picture that would lead us to believe anything else,” Beahm says. “The fundamentals are strong for gold, and we remain firmly bullish.”
Blanchard and Company, Inc. is the largest and most respected tangible asset investment firm that specializes in precious metals and rare coins. The company has provided more than 375,000 investors with expert consultation and assistance in the acquisition of assets that help diversify, build, and protect financial portfolios. Blanchard assists its clients with buying, selling, and trading rare coins and precious metals, and the firm has an unequaled reputation in the industry in breadth of experience, personal service, investment vehicles, and expertise. The Blanchard Economic Research Unit is a key source of precious metals market analysis and continues to be an important resource for financial and consumer media throughout the United States.
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Copyright © 2010 Blanchard and Company, Inc.
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