Perth Mint responds to gold, silver shortage allegations (Pt. 2/2)
(Kitco News) - Rumors have circulated on the internet that The Perth Mint has a shortage of physical silver and gold and that their pool products, either allocated or unallocated, do not have enough physical bullions backing them up.
"You can go to The Perth Mint's website and there' a bulletin there that absolutely denies those allegations," Kevin Rich, consultant to the Perth Mint, told David Lin, anchor for Kitco News. "Those unallocated physical products are fully backed by physical product."
Retail demand for physical products has been strong this year, but The Perth Mint denies claims that demand has completely outpaced supply.
"While The Perth Mint is currently experiencing increased demand for its products and services, customers can still invest in leading Australian silver bullion coins and in pool allocated or unallocated silver via our Depository," the Perth Mint wrote in a bulletin post, entitled "No silver shortage at The Perth Mint," on their website on March 17, 2021.
Rich said that retail demand is expected to stay elevated throughout the year.
"We don't see any sign of it waning," he said.
For more information on silver and gold bullion premiums, watch the video above.