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Gold Demand at All-Time High: CEO

Tuesday, 7 May 2013 | 5:52 PM ET
Gold Demand Hits All-Time High: CEO
Tuesday, 7 May 2013 | 5:31 PM ET
While the price of gold has declined in recent weeks, demand for the physical commodity has soared, Lear Capital CEO 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.

(Read More: Gold at $4,000 an Ounce?)

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.

Gold closed at $1,448.80 per ounce.

Trader disclosure: On May 7, 2013, the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders: Guy Adami is long C; Guy Adami is long GS; Guy Adami is long INTC; Guy Adami is long AGU; Guy Adami is long MSFT; Guy Adami is long NUE; Guy Adami is long BTU; Brian Kelly is short GLD; Brian Kelly is long TLT; Brian Kelly is long Treasuries; Brian Kelly is long Gilts; Brian Kelly is short GOLD; Brian Kelly is short SILVER; Steve Grasso is long AAPL ; Steve Grasso is long ASTM; Steve Grasso is long BA; Steve Grasso is long BAC; Steve Grasso is long GDX; Steve Grasso is long GOOG; Steve Grasso is long LF; Steve Grasso is long LNG; Steve Grasso is long MHY; Steve Grasso is long MJNA; Steve Grasso is long PXD; Steve Grasso is long NVIV; Steve Grasso is long PFE; Steve Grasso is long S; Steve Grasso is funds long EMC; Steve Grasso is funds long MSFT; Steve Grasso is funds long OXY; Steve Grasso is funds long HPQ; Steve Grasso is funds long NEM; Steve Grasso is funds long ZNGA; Tim Seymour is long AAPL; Tim Seymour is long BAC; Tim Seymour is long SBUX; Tim Seymour is long FB; Tim Seymour is long DIS.

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