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Writers Torgny Persson, Koos Jansen
& Hong Kang See
Global Financial Turmoil, Gold Price Doesn’t Move
Sunday the 5th of July 2015
It’s remarkable the Greek tragedy has had no influence on the gold price in recent weeks. We’ve heard repeatedly Europe and Greece could not reach a deal for an extended bailout, are financial markets suffering from Euroscrisis fatigue?
Team Dijsselbloem-Juncker states they stretched all they could and offered the Greek government a reasonable deal that would require more reforms the Hellenic Republic, but team Varoufakis-Tsiparas will not agree with the proposed reforms. On Thursday June 25 another final meeting ended with no success, while Greece had a payment of €1.6 billion to the IMF coming up on June 30, negotiations were pushed to Saturday June 27. Dangerous territory, a bank holiday usually kicks of in the weekend when financial markets are closed.
Again, on Saturday June 27 no agreement could be reached, crowds started to appear at ATMs in Greece. The Greek government closed the banks, only allowing people to withdrawal €60 a day, and organized a referendum (held on Sunday July 5) to let the Greek people decide if the latest offer from their creditors should be accepted, yes or no.
On June 30 Greece defaulted by not paying the IMF €1.6 billion, followed by a media war between team Varoufakis-Tsiparas and Europe in which both sides are accusing each other of spreading false rumors on the current state of affairs; shaking the fundamentals of the great European project.
Concurrently the Chinese stock market fell into an abyss, from a peak on June 12 down 29 % on July 3, nearly ¥15 trillion yuan (over $2 trillion dollars) was moved out of the Shanghai Composite Index. Yet, recent financial turmoil has not moved the gold price. Not in dollars (or renminbi, as the renminbi is pegged to the US dollar):
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By: Koos Jansen
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Buy Gold Singapore
There are a number of reasons to buy gold in Singapore. Some people buy gold as investment whereas some people buy because they view gold as money. This text gives you an overview of the characteristics of gold and why it is sensible to buy gold.
When you buy gold in times of economic uncertainty you obtain an insurance against the crumbling financial system. When you buy gold in good economic times, you get an asset that withstands inflation and that has been retaining its value for thousands of years.
When you buy gold, you buy an asset that has an intrinsic value because of its useful qualities. Our current fiat money has lost 98 % in merely 100 years. Our monetary system is more fragile than ever. If you instead buy gold, you get an asset that has been retaining its value for thousands of years.
It is safe and secure to buy from BullionStar. When you buy gold from us, you receive unparalleled service. You can follow the full process from the order placement to receiving the products. Bullion products can be viewed, bought and personally collected from our shop at 45 New Bridge Road, Singapore 059398. Alternatively they can be securely store with BullionStar's storage solution My Vault Storage® or shipped to you.
Some of the advantages of buying gold from BullionStar in Singapore include:
Buy Silver Singapore
Thinking about gold? Buy silver in Singapore! Silver has similar characteristics as gold but has even greater upside potential. But is it really a good idea to buy silver when the price of silver has increased significantly over the last years?
Even though the price of silver has increased, it is likely that we have only seen the beginning of the surge. When you own silver, you own a metal with similar characteristics as gold. The argument for buying silver rather than buying gold is that the supply of silver is very limited while at the same time, the demand is high and rising.
There has been a physical shortage of silver several times during the last years. When silver shortages have appeared, physical silver has been valued higher than the official market price of silver. The reason for this is that silver can be bought in different forms, either as certificates or in physical form.
When you buy silver certificates, you can never be sure that the physical silver exists. There are more silver certificates on the market than there is physical silver. It is therefore essential that you demand physical delivery when you buy silver.
Some of the advantages of buying silver from BullionStar in Singapore include:
- You choose whether to pick up the silver you have bought in our shop at 45 New Bridge Road, Singapore 059398, store your silver securely in "My Vault Storage®" or ship your silver to your delivery address.
The demand for silver is growing exponentially. Silver is already used in tens of thousands industrial applications such as mobile phones, computers, iPads and solar panels. When you buy silver, you buy a metal with excellent industrial characteristics. A few examples of this are that silver conducts electricity and heat very well.
The silver market is very small compared to most other asset markets and has been a forgotten market for many decades. If you buy silver, you will get an asset with superior potential but with limited risk.
Buy silver in Singapore to get a safe asset with perhaps even more potential than gold. Read this article for more information about silver as investment.
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