Demand for gold coins in Europe & US picks up due to Greek crisis

The uncertainty over what will happen next in Greece should contribute to solid demand for gold and shore up the gold price.

As a number of coin retailers reported yesterday, demand for gold coins in Europe grew significantly in June on the back of the escalating Greek crisis. Increased buying interest was also observed in Greece, according to the UK's Royal Mint, gold demand among Greek customers was twice as high as the five-month average in June.

Online gold retailers reported the strongest demand since 2013 and 2012. The U.S. Mint has also sold considerably more gold coins so far in June than it did in the preceding months.