Krugerrand demand skyrockets

April 20, 2013 in Coins, Gold, Gold Coins, Investing, South Africa Coins, World Coins

Investment Insights.  ( Author: Ingé Lamprecht| 19 April 2013

Gold is a safe haven in turbulent times – FNB Share Investing CEO.

South Africa Gold Krugerrand

South Africa Gold Krugerrand

JOHANNESBURG – The demand for Krugerrands has skyrocketed during the past week as investors tried to benefit from the weaker gold price.

The gold price dropped to its lowest level in months earlier this week after it emerged that Cyprus might be selling gold in order to help finance its bailout.

Gusta Binikos, chief executive officer of FNB Share Investing, says the average ounces bought back from customers per month has increased by 30% for this month, compared with the average for the prior 12 months. However, this is only a slight increase compared with the increase of sales to customers of 331% for the same period, says Binikos.

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