Park Avenue Numismatics
5084 Biscayne Blvd, Suite 105
Miami, FL 33137
Toll Free: 888-419-7136
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Over 30 Years Experience
Park Avenue has over 30 years
experience buying and selling
Rare Coin and Precious Metals.
We have the knowledge and
ability to provide our customers
with the best products and services.
6.22.26 - Physical Gold Is Scarce
6.22.26 - Physical Gold Is Scarce
Gold last traded at $4,099 an ounce. Silver at $61.47 an ounce.
Despite Correction, Physical Gold Is Scarce -King World News
Simon Mikhailovich: Paper contracts are limitless; physical goods are scarce.
In 1971, the US had to end the US dollar gold backing after selling down most of its gold reserves to keep a lid on gold. Physical demand was due to a loss of confidence in the US fin position. Gold went from $35 to $850 and settled in the $300-$400.
Similarly, the US had to back down vs Iran after selling down most of its oil reserves to keep a lid on oil. Otherwise, $100++ oil would have broken the global economy.
Paper gold is a trading asset; physical gold is a safe haven. So far, Western demand has been for trading, not safety, but the flip from greed to fear is non-linear as are credit events, monetary crises, wars, etc. Don't expect "forward guidance."
