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<p>[QUOTE=&quot;Juan Blanco, post: 1574620, member: 41665&quot;]Well YES of course. But there&#039;s certainly NO BUBBLE IN GOLD when - as far as I can tell - hardly ANYONE here owns any... yet. </p><p><br /></p><p>I suppose the (minuscule?) US bullion market is nearly saturated with product, awaiting further entrants. In other words, the growth of this bullionist mkt requires increasing volacity: the creation of new bullionists. Any putative &#039;bubble exhaustion&#039; in US Gold won&#039;t drive POG lower (US retail demand is <i>inconsequential </i>to the global mkt) - but it should decrease higher dealer premiums in the USA. The US retail PM market must get more competitive: for US buyers, BETTER DEALS AHEAD! </p><p><br /></p><p>I think Chinese &amp; European buying is a different story, Demand pushing POG is outside the USA (retail coin/bar) or in the ETFs (also foreign.) That&#039;s my takeaway from the WGC report.</p><p>Regards!</p><p><br /></p><p>Also: fwiw</p><p><b>For 3Q 2012, 10.5 mts = 337,582 Troy Ounces </b>... looking at the US Mint site I see total Gold bullion coin sales July-Sept at <b>138,000 t/o </b>or <b>41% the reported Au coin/ingot sales.&nbsp; </b>The WGC is reporting Thomson Reuters GFMS data; any idea WHAT accounts for the difference???</p><p><a href="http://www.usmint.gov/mint_programs/american_eagles/?action=sales&amp;year=2012#GoldTotals" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://www.usmint.gov/mint_programs/american_eagles/?action=sales&amp;year=2012#GoldTotals" rel="nofollow">http://www.usmint.gov/mint_programs/american_eagles/?action=sales&amp;year=2012#GoldTotals</a>[/QUOTE]</p><p><br /></p>

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