Scarcity of Gold in Mexico

Monday, 23 December 2013

Hugo Salinas Price

December 23, 2013
4:30 p.m. CST.

I have just spoken with Mr. Calles, at Banco Azteca. Mr. Calles purchases silver one-ounce “Libertad” coins for sale to the public through the offices of Banco Azteca, throughout Mexico, and thus he is in contact with the Mexican Mint.

Mr. Calles informs me that during the past weeks the Mexican Mint has not been selling the one-ounce gold “Libertad” coins, nor the Mexican $50 gold pesos piece known as the “Centenario” (1.205 oz.), because it has run out of stock. The low price of gold has created an unusual demand on the part of the public.

Mr. Calles says that this is an extraordinary situation. The Mexican Mint will resume selling these coins on January 10, 2014.

Comment: The scarcity of gold caused by the drain which carries gold off to the Orient, combined with its abnormally low price, is beginning to show at the edges of world markets for gold, Mexico being one of the edges.

Hugo Salinas Price