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Super-rich rush to buy 'Italian Job' style gold bars

The super-rich are looking to protect their wealth through buying record numbers of "Italian job" style gold bars, according to bullion experts.

The number of 12.5kg gold bars being bought by wealthy customers has increased 243pc so far this year, when compared to the same period last year, said Rob Halliday-Stein founder of BullionByPost.

The sales of 1kg gold bars, worth about £25,000 each, has doubled during the three months ended August, when compared to the same period last year, according to ATS Bullion sales figures.

Sales of the more popular gold coins such as the quarter ounce sovereign and one ounce Krugerrand have also doubled this year, according to figures from BullionByPost.

http://www.telegraph.co.uk/finance/commodities/11104055/Super-rich-rush-to-buy-Italian-Job-style-gold-bars.html

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Super-rich rush to buy 'Italian Job' style gold bars

The super-rich are looking to protect their wealth through buying record numbers of "Italian job" style gold bars, according to bullion experts.

The number of 12.5kg gold bars being bought by wealthy customers has increased 243pc so far this year, when compared to the same period last year, said Rob Halliday-Stein founder of BullionByPost.

The sales of 1kg gold bars, worth about £25,000 each, has doubled during the three months ended August, when compared to the same period last year, according to ATS Bullion sales figures.

Sales of the more popular gold coins such as the quarter ounce sovereign and one ounce Krugerrand have also doubled this year, according to figures from BullionByPost.

http://www.telegraph.co.uk/finance/commodities/11104055/Super-rich-rush-to-buy-Italian-Job-style-gold-bars.html

Hmm. Those in the know preparing for a whole-of-market crash and QE?

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Much as I do not wish to quote Mr .Greenspan, I thought this was quite interesting:

"If the dollar or any other fiat currency were universally acceptable at all times, central banks would see no need to hold any gold. The fact that they do indicates that such currencies are not a universal substitute.”

Alan Greenspan, Sep 29, 2014

Full article by Greenspan - http://www.foreignaffairs.com/articles/142114/alan-greenspan/golden-rule . He also suggests that China is about to embark on a massive gold buying programme to take reserves up to 10,000 tons+.

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What to write.....IMHO, gold is in a huge bubble and if you continue in your belief system you may lose allot of money. I write this not as a 'troll' but as someone who gets the whole narative and someone who got sucked into the goldbug mindset. Having skimmed through this forum, seems there are allot of GBs here. Free your minds! Test your assertions, they do not hold inmho. Hold a tiny 1-2% in your balanced portfolio. No more.

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Had enough playing with your skateboard.

All you need now, is a gold plated lump of polystyrene for your head..._

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Against the Dollar? What Russia’s Increase of Bullion Reserves Could Mean

Russia seems to be launching a silent attack on the supremacy of the dollar and the Western countries, as President Putin is buying gold with “little fanfare, but on a large scale”; as there is no evident economic reason for such an increase, the move will provide Russia with an insurance against crises, according to German media.

http://sputniknews.com/russia/20160226/1035375018/russia-gold-reserves-increase.html

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Canada’s golden age is over

Canada has used up all of its gold reserves. For the first time since 1935 the country is out of gold.

The volume of gold reserves in Canada has declined steadily over the past 50 years. In the mid-1960s, Canada’s gold reserves exceeded 1,000 tons. By 1985, half had been sold. In 2015, the reserves were down to three tons and now the country has no gold left.

https://www.rt.com/business/334498-canada-gold-reserves-economy/

Edited by Errol

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I am cashing out of my 2008 purchases today. Feel bad for selling as I've held so long and the outlook still points to gold. Keep buying if you can :)

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