Golden ChipMunk
Well-Known Member
You may find many dealers are running very low in stocks.
It was on the News and it have gone nuts.
Up up and away.
It was on the News and it have gone nuts.
Up up and away.
Physical Gold Depleted
- Thread starter Golden ChipMunk
- Start date
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- Tags
- gold bullion
Late to the party, or only just serving 2nd rounds now?
Sing out if you know anyone in the queue.
https://www.news.com.au/finance/eco...h/news-story/a23bb3fb376594ff726f62fbbb40ddee
Huge surge’ in gold trading in Australia as prices hit record high
The gold rush has well and truly begun in Australia as big lines form in CBDs and the nation set to score a huge win.
Thomas Sargeant and Ella McIlveen
3 min read
October 9, 2025 - 10:50AM
Aussies race to stores as gold skyrockets
Aussies race to stores as gold skyrockets
The price of gold has surged to a record high overnight, hitting $4,000 per troy ounce for the first time. The metal’s price has risen by...
more
Australians have raced to gold dealers as the price of gold surged to a record high of $4000 USD per troy ounce.
The precious metal hit a new milestone on Wednesday as major investors looked to the “safe haven” currency in the face of market volatility.
Gold dealer ABC Bullion in Sydney’s Martin Place was buzzing on Wednesday morning as a crowd of mostly retirees and families waited around the entrance.
One family told news.com.au they were hoping to buy 20 grams of gold and a few grams of silver, which would set them back over $6000.
Gold bullion bars are pictured after being inspected and polished at the ABC Refinery in Sydney. Picture: David / AFP
The line persisted through the day and was still going strong at 3.30pm.
Sydney woman Emily Scott said she has been investing in gold bullion for ten years and got “a bit of a shock” seeing the line of those looking to buy and was worried she wouldn’t make it to the front before closing.
“I know the price is going up, I just wanted to top mine up,” she said.
Ms Scott said she still felt her finances were liquid when investing in gold, as she “can access it when I want on the day.”
“It’s almost as fast, and it’s making a better return than banks,” she said.
“People are wanting to invest in precious metal, it’s secure and stable.”
The queue to buy precious metals at ABC Bullion in Sydney at about 3.30pm. Picture: news.com.au
General manager of ABC Bullion Jordan Eliseo said the business has seen a “huge surge in trading activity”
“It’s four to five times what they’d see in a normal day,” he told news.com.au.
“People opening accounts in the last month have essentially tripled compared to what you’d normally see. It’s not just a surge in prices but in activity and investors.”
“There’s a huge queue out the front which has become quite normal over the last few weeks,” he said.
Finch Financial managing director Julian Finch said global volatility and economic uncertainty are part of why gold prices have continued to rise.
Gold prices have continued to rise even as Australia rakes in less profit from other resource exports. Picture: Department of Industry, Science and Resources
Finch Financial managing director Julian Finch.
“Gold is classified as a world standard in terms of currency and a precious metal, it’s got an intrinsic value,” he said.
“Investor markets don’t necessarily like volatility. Of course gold is probably something that they would look towards to park their money until the uncertainty goes away.”
Market uncertainty is being driven by inflation across the globe which Mr Finch said seems to be “sticking around” and ongoing political instability.
“Investor markets don’t necessarily like volatility,” Mr Finch said.
“Whether it’s wars or out of control inflation, whether it’s political events like tariffs and the shutting down of the American public service.”
Gold prices have risen considerably since 2020. Picture: ABC Bullion
“Large investors like institutions like even superannuation funds and things like that with trillions of dollars that are looking for somewhere to put their money that is going to be safe while the volatility sort of settles itself down.”
For everyday Aussies, Mr Finch said it’s unlikely that they’ll experience any major disruptions to their finances.
Mr Finch said while most Australians won’t be affected by these market changes, some may see changes.
“Banks are pretty stable, particularly in Australia,” he said.
A refiner stacks gold bullion after being removed from casts at the ABC Refinery smelter in Sydney. Picture: David Gray/ AFP
“It’d be nice if we all had a kilo of (gold) under our bed at home, because we would have found ourselves with new riches overnight.”
“But for those with their own funds and savings in their local bank, I don’t think there’s anything for them to worry about.”
Gold investments have performed consistently in recent decades with prices rising almost 10 per cent per annum over the last 25 years.
The Australian economy is set to benefit from this new gold rush as the rare good is expected to surge to our second largest resource export behind iron ore.
The latest report from the Department of Industry, Science and Resources anticipates Australian gold exports to rise by $12bn to 2025-26, driven by increased exports and record prices even as the value of other resource exports have fallen.
Sing out if you know anyone in the queue.
https://www.news.com.au/finance/eco...h/news-story/a23bb3fb376594ff726f62fbbb40ddee
Huge surge’ in gold trading in Australia as prices hit record high
The gold rush has well and truly begun in Australia as big lines form in CBDs and the nation set to score a huge win.
Thomas Sargeant and Ella McIlveen
3 min read
October 9, 2025 - 10:50AM
Aussies race to stores as gold skyrockets
Aussies race to stores as gold skyrockets
The price of gold has surged to a record high overnight, hitting $4,000 per troy ounce for the first time. The metal’s price has risen by...
more
Australians have raced to gold dealers as the price of gold surged to a record high of $4000 USD per troy ounce.
The precious metal hit a new milestone on Wednesday as major investors looked to the “safe haven” currency in the face of market volatility.
Gold dealer ABC Bullion in Sydney’s Martin Place was buzzing on Wednesday morning as a crowd of mostly retirees and families waited around the entrance.
One family told news.com.au they were hoping to buy 20 grams of gold and a few grams of silver, which would set them back over $6000.
Gold bullion bars are pictured after being inspected and polished at the ABC Refinery in Sydney. Picture: David / AFP
The line persisted through the day and was still going strong at 3.30pm.
Sydney woman Emily Scott said she has been investing in gold bullion for ten years and got “a bit of a shock” seeing the line of those looking to buy and was worried she wouldn’t make it to the front before closing.
“I know the price is going up, I just wanted to top mine up,” she said.
Ms Scott said she still felt her finances were liquid when investing in gold, as she “can access it when I want on the day.”
“It’s almost as fast, and it’s making a better return than banks,” she said.
“People are wanting to invest in precious metal, it’s secure and stable.”
The queue to buy precious metals at ABC Bullion in Sydney at about 3.30pm. Picture: news.com.au
General manager of ABC Bullion Jordan Eliseo said the business has seen a “huge surge in trading activity”
“It’s four to five times what they’d see in a normal day,” he told news.com.au.
“People opening accounts in the last month have essentially tripled compared to what you’d normally see. It’s not just a surge in prices but in activity and investors.”
“There’s a huge queue out the front which has become quite normal over the last few weeks,” he said.
Finch Financial managing director Julian Finch said global volatility and economic uncertainty are part of why gold prices have continued to rise.
Gold prices have continued to rise even as Australia rakes in less profit from other resource exports. Picture: Department of Industry, Science and Resources
Finch Financial managing director Julian Finch.
“Gold is classified as a world standard in terms of currency and a precious metal, it’s got an intrinsic value,” he said.
“Investor markets don’t necessarily like volatility. Of course gold is probably something that they would look towards to park their money until the uncertainty goes away.”
Market uncertainty is being driven by inflation across the globe which Mr Finch said seems to be “sticking around” and ongoing political instability.
“Investor markets don’t necessarily like volatility,” Mr Finch said.
“Whether it’s wars or out of control inflation, whether it’s political events like tariffs and the shutting down of the American public service.”
Gold prices have risen considerably since 2020. Picture: ABC Bullion
“Large investors like institutions like even superannuation funds and things like that with trillions of dollars that are looking for somewhere to put their money that is going to be safe while the volatility sort of settles itself down.”
For everyday Aussies, Mr Finch said it’s unlikely that they’ll experience any major disruptions to their finances.
Mr Finch said while most Australians won’t be affected by these market changes, some may see changes.
“Banks are pretty stable, particularly in Australia,” he said.
A refiner stacks gold bullion after being removed from casts at the ABC Refinery smelter in Sydney. Picture: David Gray/ AFP
“It’d be nice if we all had a kilo of (gold) under our bed at home, because we would have found ourselves with new riches overnight.”
“But for those with their own funds and savings in their local bank, I don’t think there’s anything for them to worry about.”
Gold investments have performed consistently in recent decades with prices rising almost 10 per cent per annum over the last 25 years.
The Australian economy is set to benefit from this new gold rush as the rare good is expected to surge to our second largest resource export behind iron ore.
The latest report from the Department of Industry, Science and Resources anticipates Australian gold exports to rise by $12bn to 2025-26, driven by increased exports and record prices even as the value of other resource exports have fallen.
What would they do with it? They have no use for it because they are the source of all money.
betterinvestmentthanshare
Well-Known Member
They would have plenty of use for it. Imagine if they stopped wasteful spending, put the surplus into gold, slowly building reserves for a rainy day. Imagine all the $$ given to countries funding their war was put into gold instead
betterinvestmentthanshare
Well-Known Member
We have a great system, it’s just a few can’t help themselves and fuck it up for the rest that have no idea
There’s plenty of paper gold out there!
Ok, wasteful spending is a real issue.
But buying gold with any surplus? That's pointless. The government is the source of all money, it doesn't need to hoard gold to build reserves for a rainy day. The Federal government's budget is not like a household budget, if it needs more then it can just create more reserves. If the government wants to buy oil, or pharmaceuticals or gas that's fine because it can use that in times of shortage to supply the market, but gold is very different to crude or natural gas because it's not a necessity.
And on the topic of building reserves for a rainy day, every $ that the government doesn't spend is a $ taken out of the pockets of the private sector ie you and me and everyone else. The government should not be in the business of hoarding $.
betterinvestmentthanshare
Well-Known Member
Yes, I agree……in a perfect world.
Nah, not a perfect world, just the world of modern fiat currencies.
I wouldn't assume that all of those people are buyers. I'll bet there are sellers in that queue also.
My shops here in Colorado have only had sellers.
Everyone is trying to raise cash.
Everyone is trying to raise cash.
betterinvestmentthanshare
Well-Known Member
Nathan at City Gold Bullion Adelaide confirmed not many sellers, almost all buyers
betterinvestmentthanshare
Well-Known Member
AND
Crypto dump in progress
Crypto dump in progress
That's an interesting piece of information indeed. Panic buying and wise, strong hands (or simple excited hope or greed) on the other side.
Bigger gains in Ag just now.
Yeah, that'd be my fault this time. Sold some Ag for first time in years, goes up a few bucks each time I sell
