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Germans Stockpiling Gold Amid Market Panic (Editor's Note: Bullion dealers around the world, are not managing to fill their customers orders. My broker, Dillon Gage, has historically charged me a 3% brokerage fee. They are currently requiring a 35% fee. Hans Tulving, one of the largest and most respected broker/dealers in the country, is charging closer to 50% on U.S. Silver Eagles (500 count, Westpoint Mint Boxes). These fees are not a result of gouging, but rather the realization that the prices being provided by the COMEX are fake and the result of slimeball criminal action on the part of the criminal COMEX as well as the criminal SEC, the criminal U.S. Treasury Department, every single member of the current criminal administration and 95% of the criminal U.S. Congress and the criminal House of Representatives. If everyone, who worked for the government, died tomorrow, with the exception of Ron Paul, there would be more parking spaces. (And more parking spaces would be a good thing) - JSB)
In uncertain economic times, Germans are dumping stocks and shares to take refuge in precious metal, according to a Wednesday article in a Berlin newspaper. German gold dealers report running low on stocks of gold bars and coins. Heiko Ganss, head of the Berlin branch of gold merchant Pro Aurum, told the Berliner Zeitung newspaper that most gold traders were refusing new orders, as they couldn't meet the current demand. "Demand is running well above our capacity to supply," he was quoted saying, saying retail banks in Germany were also unable to meet demand. "Exploding demand" Gold traded in London at $913 (656 euros) per troy ounce on Wednesday morning, up from $876.75 late Tuesday. "Demand has exploded in the past few days," said Stephan Henkel, a gold broker at Umicore, which presses gold bars and coins and puts them on sale. Delivery times were running at two to four weeks. "Currently, demand is about 10 times what it is at normal times," he said |
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German gold dealers have stopped taking new orders for the precious metal as demand has skyrocketed. Gold is seen as a safe investment during the market turmoil.