The demand for precious metals has hit fever pitch amid economic uncertainty and price volatility as millions around the world awaken the gold bug within.
But there's one big problem: delivery.
Social distancing, business closures, government lockdowns, and grounded airplanes are significantly disrupting gold's global supply routes. And it has resulted in long shipping delays, low inventories, canceled transactions, lost sales, and higher prices for everyone.
“Gold and silver are selling better than snowballs in August.”
– Local bullion dealer
The U.S. Mint is having its best sales month in years. According to the latest data, the Mint has sold 142,000 ounces in various sizes of American Gold Eagles for the month of March. That's nearly what it sold throughout the entire year of 2019!
