Premiums for fabricated gold are starting to normalize but remain near the high side of normal. Perspective From my vantagepoint as a gold dealer, shock and grief appear to be turning into action and preparation. In the same way that food, milk, water, and batteries completely disappear from grocery store shelves before the arrival of a hurricane, physical gold bullion has now been cleared from most gold dealers' inventories across the country. The public is justifiably concerned about the future. Dealers are restocking, and the U.S. Mint will certainly ramp up gold bullion production to meet this surging demand.
Gold prices are likely to increase further.
I'm getting calls from a lot of new, first-time gold buyers. Other dealer friends of mine across the country report the same type of business activity. Customers who reside in smaller cities have reported to me that some banks are running short of physical cash. All of this activity is confirmation that the public is beginning to react strongly to this crisis and the prospects it presents, taking powerful measures to protect finances. The amount and intensity of this activity is much different than anything I've seen in recent years - far stronger, in fact, than what I witnessed during the Gulf War of 1991.