- In China, you can buy gold and silver at the bank.
- In China Bullion is also available for purchase at Chinese post offices.
- In Hong Kong most of the major banks sell gold coins at a very small mark up - spot plus around 50HKD (divide this by 7.78 for U.S.). They also buy gold coins.
- In India, every city and town has a gold mall, where local people buy 999 gold jewellery for many occasions and use it as a store of wealth against hard times. This is sold by spot price plus a small fee for making up. These shops also buy it back.
- China, Hong Kong, Singapore and Thailand, local residents have bank accounts denominated in gold - the units used are Chinese (taels and maces).
- In Germany, where much of the populace prefers to store its wealth in hard assets, Gold-to-Go has introduced the first gold vending machine with 500 locations throughout the country.
- In the US households keep about .01 percent of their assets in gold.
- What happens to the price of gold if a very small percentage of US households get the idea that gold might be a good store of wealth?
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Thursday, November 29, 2012
What happens if people in the US finally get the idea?
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