Here we go! Gold News floods Mainstream Media

After India’s bombshell imports report released on Monday—which showed that the largest democracy on the planet took in 500% more gold and silver as imports during the month of May than it imported in April—mainstream news outlets have posted a few more articles about the relatively quiet stampede (up til now) into (physical) gold.

Today follow-up gold news articles from Monday include three from Bloomberg and one from The Financial Times.

Bloomberg’s article entitled, “UBS Gold Sales to India Rise 23% So Far in 2011; Demand ‘Robust.’” confirms Mineweb’s article on Monday—which originally reported the mind-blowing gold and silver import statistics for India.

“Physical bullion sales in May rose ‘a very substantial’ 76% from the previous month and 161% from a year ago,” according to Bloomberg. So far this year, UBS said that UBS bullion sales to India are already up 22% from the same period last year.

“The value of India’s combined gold and silver imports soared 500%  in May from April, and 222% from May 2010,” UBS’s Edel Tully stated in a recent report given to Bloomberg. “While import volumes rather than values would be much more accurate, given the run-up in gold and silver prices in May, the figures still provide a good indication of the country’s robust appetite for precious metals.”

Another piece from Bloomberg, entitled, “China Central Bank Plans to Double Issuance of Gold Panda Coins,” gives us a clue to retail demand from the people of China.  We know the China’s central bank is on a tear, scooping up domestic mining supply within the borders of the People’s Republic.  It’s been reported that China’s central bank buys all available supply from domestic mining operations.

“The People’s Bank of China said on its Web site that it plans to issue about 1 million ounces of its 2011 panda commemorative gold coins compared with plans at the end of last year for 500,000 ounces of the coins,” according to Bloomberg.

One million supply of Pandas for a population of 1.3 billion?  Now let’s wait for another Bloomberg article which will cover an announcement from the People’s Bank that it ran out of Pandas within the first few weeks of issuance.

China and India have indeed hogged the gold and silver headlines this week. But not to be outdone (let’s say, on a per capita basis) are the good folks from Down Under, who have accommodated those (mostly Westerners) wishing to load up on silver—the second go-to safe-haven currency after gold.  Bloomberg got this story, too, and was very busy uploading all these articles in time for the Greek crisis to head into the final inning deadline of July 3.  The article from Bloomberg, entitled, “Silver-Coin Sales Booming at Perth Mint on Demand for Haven” stated that demand out of the Perth Mint bustles along as it has since the beginning of the year.

“Silver-coin sales from Australia’s Perth Mint, which was founded in 1899 and processes all of the country’s bullion, have surged to a record as buyers seek to protect their wealth with the metal known as poor man’s gold,” according to Bloomberg.

Bloomberg noted that the mint sold 10.7 million 1-ounce silver coins since July 1 last year, according to sales and marketing Director Ron Currie.  “That’s 66 percent higher than the previous full fiscal year and about 10-fold more than five years earlier. Sales of 1- ounce gold coins will be close to a record,” Currie told the leading business media outlet.

And kodos goes to the Financial Times (though, the online journal forces readers to sign up), which reported that Greeks have been dumping euros for gold, recently.  No surprise there.

In the FT article, entitled, “Greek savers rush for gold,” the gist of the article read:

“Greek citizens are emptying savings accounts and buying gold as they brace themselves for the possibility of a sovereign default and a run on the banks,” according to FT.

Savers making the switch out of euros into gold has decidedly, it reported.

“When the global financial crisis started, our sales of coins to investors overtook bullion for the first time,” Harry Krinakis, at Sepheriades, a Greek precious metals trader, told FT. “Now the sales ratio has reached five to one.”

Wondering why CNBC doesn’t have at least one article about gold’s lure during the protracted and dramatized Greek crisis?  You aren’t alone.  But when it comes finally time at CNBC to broadcast a segment on the gold and silver market, you’ll be sure Steve Liesman will be waiting in the wings to offer the latest talking points hatched from his group of Fed lackeys and wannabes.