Skip to comments.Sales of gold bars rising amid rising tension on peninsula [S. Korea]
Posted on 08/12/2017 9:19:13 PM PDT by TigerLikesRooster
Sales of gold bars rising amid rising tension on peninsula
Sales of gold bars, regarded as a safe haven for investors, are increasing in South Korea amid escalating tension with North Korea, industry sources said Saturday.
The Korea Gold Exchange, a local trader, said the average daily sales of 100-gram gold bars reached 250 units since Wednesday, rising sharply from 50 units on average.
Industry watchers said the demand for smaller gold bars is increasing as they are easier to carry compared to kilo-level products. A 10-gram gold bar is currently trading at around 550,000 won ($480), the trader added.
"Starting this week, the number of affluent consumers in their 50s and 60s purchasing gold bars is increasing," an official from the trader said. "The move apparently followed the geopolitical tension, along with rumors of a crisis in August."
Market watchers said the demand for gold bars is expected to continue increasing for the time being, until the tension on the Korean Peninsula settles down. (Yonhap)
Bitcoin up nicely. $4033.88
I think Bitcoin may just be Apple 10 years ago.
What about chocolate bars?
Whisky and tobacco?
And Silver could go to $200 oz./sarc
I keep about as it stands 2% of my investment portfolio in silver. It is a hedge against a wide range of uncertainties.
It is a good conductor, and a pretty shiny, to keep a woman happy for 15 minutes.
As a trade item it's cataclysm value is zero.
It is the same when war broke out and your house was destroyed. Carrying cash can be even bulky. Precious metals come in handy. People mentioned in the article do not buy them as investment items. It is basically a high denomination cash which is universally accepted. It will be accepted in Korea, Japan, Vietnam, China, and India.
I don't know where you live, but it is accepted in vast majority of the world.
I won't accept your gold in barter for food or anything else of survival value.
Ammo,coffee, tuna, charmin.
A well, spring, or river at hand.
After that yer talkin luxuries.
All that gold will do you, what, exactly when the Nork artillery starts booming? Invest in some LEAD. Or maybe in a nice deep bunker. Idiots!
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