Commodity Trade Mantra

Posts Tagged ‘Gold Refineries’

Surge in Smuggled Gold Hits Indian Gold Refiners, Gold Jewelers & Banks

Smuggled gold could account for over a third of demand this year in India – the world’s second-biggest buyer of gold – potentially costing the government over $1 billion in lost revenue. Gold refiners have less than a 1% margin. If smugglers offer 4 or 5% discounts, they have no choice but to close operations. All 32 refineries in the country have stopped buying dore until market conditions normalize.

Are You sure there will be Enough Gold to match the Exploding Demand?

Cracks are now visible in the central banks’ wall of deceit. Trillions of dollars of bonds now trade at negative yields. Helicopter money is in the cards. People the world over now sense the jig is up. So one important question hangs in the air: Will there be enough gold to match exploding demand? Supplies are drying up. So… Has the world reached peak gold? And what does it spell for gold prices?

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