Chinese Gold Exchange Sold Out - Begins Importing From Switzerland - By Michael Krieger of Liberty Blitzkrieg blog (22/4/13) PDF Print E-mail
Michael Krieger of Liberty Blitzkrieg blog   
Monday, 22 April 2013 08:03

Chinese Gold & Silver Exchange Society Runs Out of Gold... Importing from Switzerland and London

Hong Kong’s Chinese Gold & Silver Exchange Society has been in operations for over a century, and it’s President Haywood Cheung was interviewed by Bloomberg news earlier today.  Whoever orchestrated the attack on gold and silver in the last week or so has gravely miscalculated, since the response to the drop has been surging demand for physical gold and silver.  While I tend to be skeptical when I hear about silver shortages since these reports have been so exaggerated in the past, the lack of silver coin availability and premiums are the most extreme I have seen since the financial and economic meltdown of 2008.  Now we discover that the Chinese Gold & Silver Exchange Society has essentially sold out of gold bullion, and must wait until Wednesday for shipments to arrive from Switzerland and London.



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US Mint Sells Record 63,500 Ounces Of Gold In One Day - By Tyler Durden (22/4/13) PDF Print E-mail
Tyler Durden   
Monday, 22 April 2013 08:02

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Gold Bear Market Or Physical Gold Discount Sale?? - By Sprott Group (22/4/13) PDF Print E-mail
Sprott Group   
Monday, 22 April 2013 07:59

Back in 1980, just as the gold price blasted upwards past $800/oz, buyers reportedly lined up in droves at various bullion dealers to participate in the rally. Investment analyst Jay Taylor writes, “I remember 1980… there was panic buying of gold by people in the streets of New York City. They were lined up around the block to buy gold and Krugerrands at that time.” That flurry of buying ended up representing a classic top. As gold failed to move higher, the speculative frenzy soon reversed into a despondency that dragged gold into a twenty year bear cycle. For those investors who bought at the top, it was a hard lesson learned.

Fast forward to today, and in the days that have followed this past Friday’s (and Monday’s) incredible gold price smash, the strangest thing has happened: physical buyers have come out in droves, but this time they’re buying immediately following an unprecedented $200 price decline.

Consider the following:

The US Mint reported selling 63,500 ounces (2 tonnes) of gold on April 17th alone, which brought total April month-to-date sales up to 147,000 ounces – more than the previous two months of gold sales combined.1 The US Mint’s year-to-date sales are now up 79% from the same period in 2012.

Coin dealers in Tokyo and Dubai reported an immediate spike in sales following the gold smash this past Friday. Reuters writes, “A week ago, as the yen-denominated price neared a new peak, jewelry stores and gold merchants across Japan saw long lines of mostly older Japanese looking to cash in on unwanted jewelry and other items that they had held for years… But on Tuesday, buyers outnumbered sellers by a wide margin. At Ginza Tanaka, the headquarters shop of Tanaka Holdings, gold buyers waited for as long as three hours for a chance to complete a transaction.”



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Global Systemic Crisis: The War Has Been Declared Between The Economic-Political World And Financial Banking Interests - By GEAB N°74 (22/4/13) PDF Print E-mail
GEAB N°74   
Monday, 22 April 2013 07:56

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Buy PHYSICAL Gold. NOW: The Discount Of A Lifetime: Or Why You Must Abandon The Fake Paper Gold Market - By Gordon Gekko (18/4/13) PDF Print E-mail
Gordon Gekko   
Thursday, 18 April 2013 08:49

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