Monday, October 29, 2012

Now Where Did I Put that Gold?

Some people that have bought physical gold have hidden it in the strangest of places. It seems that security means weird for some. Try paint tins in the shed (you threw out what!!!) or other exotic locations around the house.

Well, if you think an individual owning gold has a security problem, then try sovereign countries. The talk last week has been of the increasing clamour for States to audit their stashes of gold reserves. It seems citizens want to know if their gold is safe. Funny that.

Well, this has proven to be no easy task. Central bankers worldwide appear to be giving the old 'trust us' routine (with a straight face even) with any request for proof.

One wonders why they can't just say, "Yeah, sure, come on over and count it!" But no, obfuscate they do.

Anyway, for those interested, here's the latest from Zero Hedge regarding Germany's gold. This is all getting rather interesting.
Yesterday we posted the official statement of Bundesbank executive board member Carl-Ludwig Thiele, which in turn was a response to a recent surge in concerns about the safety and sanctity of German sovereign gold, held mostly abroad (if a major part of it held in London had been secretly repatriated), and demands by the general public - i.e., those who actually own the gold - for either an audit, or full repatriation, or both... more
Gold in New Zealand dollars: $2080.11 per oz
Previous all-time high: $2311.02 per oz (15 Nov, 2011)

Silver in New Zealand dollars: $39.01 per oz
Previous all-time high: $59.19 per oz (30 Apr, 2011)
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