Koos Jansen
BullionStar Blogs

Koos Jansen

January India Silver Import 462 MT

The DGCIS, India's customs department, just released the trade numbers for January 2014. Strangely For gold and silver they only disclose the import numbers. To figure out net import I'm aware of only one other source; COMTRADE, but they haven't caught up until January. For gold we know the Indian government implemented the 80/20 rule in August 2013, meaning gold traders have... Continue Reading

Deposit Insurance System Will Increase Physical Gold Demand China

Within 2014 the State Council aims to implement a new deposit insurance system for its banks. While one might think this is meant to lower systemic risk, it's actually meant as a step to shift risk from te government to its citizens. Handing the people the opportunity to be more responsible for their own financial health, introducing more laissez-faire. I present a translation... Continue Reading

GOFO Turned Negative AGAIN: The Consequences

Today (April 3, 2014) the one month Gold Forward Offered Rate (GOFO) turned negative again. This is the seventh time since July 8, 2013 this has happened. I would like to share a few thoughts on this. A few weeks ago when I wanted to see and download GOFO rates these were easily accessible on the LBMA website. This site, however, recently suffered a makeover. A few days ago... Continue Reading

West to East Gold Exodus In Full Swing

Chinese gold demand remains extraordinary robust in 2014. Last week (17-03-2014/21-03-2014) wholesale demand, aka SGE withdrawals, was 36 metric tonnes, year to date demand is 523 tonnes. This is a screen shot from the weekly Chinese SGE trade report; the second number from the left (blue – 本周交割量) is weekly gold withdrawn from the vaults in Kg, the second... Continue Reading

A First Glance At US Official Gold Reserves Audits

I probably missed this story because I didn't have a blog when this came out in 2011, but apparently the official gold reserves of the United States are being audited every year. I thought the last audit was done in 1974, based on information from the mainstream and alternative media; darn media! Though I haven’t been the only one who has ever been misinformed on this... Continue Reading

Dutch Youth Buying Goldbars

In the financial section of the biggest newspaper in The Netherlands, De Telegraaf, an article was published on March 22 about a growing Dutch population investing in physical gold; a young generation is becoming more aware of finance and is acting accordingly. This generation no longer chooses to save in saving accounts, but prefers to buy physical gold. "They see their... Continue Reading

Interview Jim Rickards On The Death Of Money

I had the privilege to meet with Jim Rickards, while he was in The Netherlands for one day, to do an interview about his new book "The Death Of Money". Accompanied by friend (and author of the book the The Big Reset) Willem Middelkoop we met at the hotel were Jim was staying and for one and a half hours we fired questions at him. Below you can read the highlights of the... Continue Reading

Chinese Gold Demand 488 MT YTD, Up 29 %

Although  last week only 34 metric tonnes of gold were withdrawn from the vaults of the Shanghai Gold Exchange (SGE), down 6.52 % from the prior week, year to date there has been a staggering 488 metric tonnes withdrawn, up 29 % to compared to last year. Year to date demand will probably come on par with last year when we enter april, as withdrawals exploded in April 2013.... Continue Reading

In Gold We Trust Under Attack

Since a couple of months there have been several cyber attacks on this website. Often I have trouble reaching the server to write and publish articles, Wordpress (the software I use that manages my site) is very slow and all sorts of errors appear; drafts are deleted and certain functions in the software stop working. Drives me nuts. That's from the inside. From the outside,... Continue Reading

Guest Post: The Gold Market, Part 5

Written in the late nineties by James Orlin Grabbe. This is the last part of the series. Gold FRAs A gold forward rate agreement (FRA) is a contract whose payout depends on whether the market interest rate diverges from an agreed "contract rate". It is called a "forward rate" agreement, because the interest rate applies to a gold deposit or loan starting at some time period... Continue Reading

New York Federal Reserve Lying About Gold Storage?

There is about 6700 metric tonnes of gold stored 80 feet below street level on the bedrock of Manhattan, in the vaults of the New York Federal Reserve. None of this gold is owned by the New York Federal reserve, they are merely the custodians for the US treasury (that holds approximately 400 metic tonnes in NY), 60 sovereign countries and the IMF; completely free of charge!... Continue Reading

Week 10, SGE withdrawals 36 MT, 454 MT YTD

The price of gold is rising, but is this purely because of the tensions in the Ukraine? Not entirely, I think it adds fuel to a supply shortage created by enormous Chinese physical demand since April 2013. While paper sentiment might change today or tomorrow, the physical reality will eventually be the main driver to push the pice upwards. Throughout history gold has always... Continue Reading
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