Physical Gold
Physical Gold
Buying gold for whatever happens in the future?
Might want to think again. Unless you take physical delivery of your gold, you might be in for a surprise.
Interesting post says actual gold held by institutions are a tiny fraction… 1 to 10 percent… of what they have sold to people. Looks like unless you actually have it in hand, you may not get it if you ask for it. I can’t vouch for this information. But it’s something to consider.
http://www.zerohedge.com/article/latest-gold-fraud-bombshell-canadas-only-bullion-bank-gold-vault-practically-empty
If you are thinking of having gold around in case of a disaster, rings of ‘junk gold’ - minimum karat, say 8 or 10 - seems to be a reasonable medium for trade. In those circumstances, higher value gold of 18-24 karat can’t get it’s real value, because there are no easy ways to test it, and everyone is suspected of scamming. So everything is assumed to be junk gold, and the exchange is based on the lowest value. And woe be to him who tries to pass off plated gold as solid. That test is easy, and the consequences could be very great.
