Last week I was in Sydney for the Precious Metals Investment Symposium. While the turnout was down on last year (surprising as the Australian gold price has been performing but I suppose people just look at the US price) the speaker turnout was excellent. For me the standouts were opening speaker John Butler, Keith Weiner and Jayant Bhandari. The presentations by Keith and Jayant were complimentary, with Keith covering his idea of yield purchasing power and how low interest rates were resulting in people eating their seed corn, and Jayant explaining why countries like India are so interested in gold (zero yield is better than negative yield), forecasting that the West is headed in the direction of negative yields/capital destruction.
Tuesday night saw the Precious Metal Award Gala Dinner at which I was humbled to win the ‘Maggie’ Bullion Award, which is named in honour of an Australian coin dealer known for her exceptional focus on customers, who died unexpectedly last year.
Last night I recorded an interview with Dale Pinkert at FXStreet, covering a wide range of topics including:
- bitcoin
- personal vs third party storage
- banning of gold in safety deposit boxes
- manipulation
- German repatriation
- Chinese gold accumulation
- price expectations for gold and silver
[posted at http://research.perthmint.com.au/2015/11/05/precious-metals-symposium-interview-with-fxstreet%ef%bb%bf/]
Yes but demand is still high so which dealer gets how much stock and when is a balancing act
ReplyDeleteMy understanding is that unlike other mints we are not wiling to accept orders too far into the future to prevent dealers from being tempted to advertise for stock they may not get. Hence some dealers may be removing the kangaroos from listing until they are guaranteed an allocation (and have committed to purchasing them).
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