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Physical gold demand wanes slightly, but growth drivers remain
Refinery services provider Heraeus finds in its latest precious metals appraisal that physical gold demand is waning, while the gold price also trended slightly lower week-on-week, ending on $3,354/oz on July 16. Sales of bullion from the US and Perth Mints have shrunk over the last few months, indicating that physical investors are feeling the gold price may have run out of steam. Heraeus says sales of gold coins from the US Mint have fallen from 63,500 oz in January to just 7,500 oz in May, while Perth Mint bullion sales are down 45% year-on-year so far this year, at 190 000 oz. Exchange-traded fund (ETF) inflows ... (full story)