Category Archives: gold news

Gold buyers forced to go on waiting list

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Investment company Physical Gold said there were waiting lists of three weeks for some coins, and four to six weeks for gold bars. “Previously all would have been available within a few days,” the company said.

The company said that it had seen a 50pc increase in enquiries about purchasing gold and a 35pc increase in sales, with people buying tax-free gold coins. “We are now starting to experience physical gold shortages,” said Daniel Fisher, CEO of Physical Gold.

“In particular there are waiting times on some gold bars and a real difficulty in obtaining mixed year Sovereigns. “However, many clients are willing to ‘do a deal’ and wait for delivery as they want to secure the current price as they feel it will be higher in the near future.”

Gold prices have fallen significantly recently, which may have created some demand. Mr Fisher said his clients had been “waiting in the wings” for the current price adjustment. “Clients who have been ready to pounce have now bought as they realise they are getting good value and the environment for gold is still strong. There are still few decent alternatives to gold as a safe haven asset.”

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Swiss Refiner Delays Hit 5 Weeks On Massive Gold Demand

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Today Egon von Greyerz told King World News that delays from gold refiners have expanded to a stunning 5 weeks.  KWN readers need to remember that the Swiss refiners refine over 75% of the world’s gold supply.  Greyerz also discussed what is happening with gold demand in other key markets.  Below is what Greyerz, who is founder of Asset Management out of Switzerland, had to say in this remarkable interview.

Greyerz:  “Eric, the world has no idea what’s going to hit it.  The majority of people today in the West are living in debt and have no assets to protect, but for the people with savings and wealth and for the managers of funds, they don’t realize that they have lost 60% to 80% in real terms over the last 13 years.

Not only has cash in the bank gone down by 80% in real terms, which is against gold, but so have stocks, housing, commercial property, and many other assets.  So people live under the false illusion that paper money is a true measure of their wealth.  As we know, nothing is further from the truth….

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ALERT NOT ENOUGH GOLD FOR ALL

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Originally posted on World Gold News:

Picture: bullionstreet.com

A few days ago the finance minister of India, P Chidambaram, asked the citizens of his country that contained his “uncontrolled passion” for gold , and instead, save in traditional financial instruments. “Have faith in our financial sector,” he said, hoping to stop acquiring it.
He accuses her growing consumption is affecting the current account deficit of the country, and soon to be launched offered “lucrative” bond options indexed to inflation, as an alternative. Failure guaranteed.
It may be recalled that India along with China, are the largest consumers of this metal in the world, a situation that at least the Indian authorities do not like at all.
Chidambaram’s frustration, is paradigmatic.
Many politicians and central bankers around the world, principally in the U.S. Federal Reserve, must be feeling like himself.
All actions, therefore, are designed to reinforce at any cost, the predominant role of their respective currencies, so…

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Jim Willie: Coming to a Climax with Gold at $7,000 per Ounce

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 Jim Willie of GoldenJackass.com says, “Before, they were talking about stress tests. Now, they realize that all of them in the past were a fraud. So, they are talking about ‘bail-ins’ because they are expecting failures.” Dr. Willie contends, “It’s all coming to a climax where gold is going to be central with a gold-trade central bank and gold priced at $7,000 per ounce.” Join Greg Hunter as he goes One-on-One with Jim Willie, Editor of The Hat Trick Letter

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Maguire – Perfect Storm In Gold As LBMA & COMEX Collapsing

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Andrew Maguire told King World News the perfect storm is brewing in the gold market as the LBMA and COMEX are collapsing.  Maguire, who recently appeared in the extraordinary CBC production titled, “The Secret World of Gold,” also spoke with KWN about the disappearance of gold from both of those exchanges.  Below is what Maguire had to say in part II of his remarkable written interview series which will be released today.

 

Maguire:  “One thing is certain today, the bullion banks are on the long side of all of this selling.  We are seeing cracks appearing in the fractional reserve LBMA and COMEX price setting mechanisms.  It’s really thanks to the most recent paper market discount that we are evidencing this accelerated migration of bullion from the West to the East.  more

EASTERN HEMISPHERE PHYSICAL GOLD BUYING IS GOING TO BE THE FEDERAL RESERVE’S WATERLOO! Dollars for gold which side of the fence would you like to be on

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Originally posted on World Gold News:

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Connecting all the dots, there is no question in my mind that the big price smashing of gold in mid-April was an operation designed to shake loose enough 400 oz. gold bars out of GLD in order to satisfy the enormous delivery demands coming from Asia, India and even within Europe.  GLD is the only possible source of above-ground 400 oz. gold bars that could be used to satisfy this enormous demand for physically deliverable bars.
At some point, and probably sooner than most people are willing to believe, this physical demand is going to force an upward “explosion” of the paper derivatives being used to hold down the spot price right now. 

In 30 years of studying and trading the financial markets, I have never seen contrarian indicators for any market sector flashing as bullishly as they are for gold and silver, which further confirms my view that the metals…

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