Demand for physical gold has soared, Scott Carter says.
While the price of gold has declined in recent weeks, demand for the physical metal has soared, Lear Capital CEO Scott Carter said Tuesday.
"I think what you see is investors that thought they might have missed the price before saw the price drop in April, and this was a great opportunity for them to get into the market," he said. "So, we've actually seen on the physical side a big bump in investors wanting to add to their position or jump in for the first time."
Lear Capital is the largest seller of physical gold and silver in the United States.
On CNBC's "Fast Money, Carter also noted that the U.S. Mint had recently announced it was running out of its supply.
"So, demand at the mint level for coins, demand at the retail level in our business, is at an all-time high right now," he said.
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Carter added that the disconnect between the commodity price of gold and the demand for the physical product could be a function of timing among investors.
"They're in and out of contracts and not taking physical possession," he said.