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« Gold Equity Market Cycles | Main | Central Bankers Get Tired of Gold as Falling Exports Reduce Cash »
Wednesday
Aug312016

Deutsche Bank Refuses Delivery Of Physical Gold Upon Demand

The article's conclusion: anyone who wants to easily convert their Xetra-Gold holdings into physical gold - at least for clients of Deutsche Bank - can do so only by selling their shares, and then buying gold coins or bars directly elsewhere. Which leads the author to the logical question: what is the worth of the Xetra-Gold service, which certifies the right to redeem physical gold, if said delivery is no longer possible?

In other words, what was supposedly an ETC which promised physical delivery upon demand, is nothing more than yet another "paper only" play.

We, on the other hand, have a more focused question: is the inability to deliver physical gold an incipient issue with Xetra-Gold, or with the company's "designated sponor" Deutsche Bank, and if the latter is suddenly unable to satisfy even the smallest of delivery requests by retail clients, just how unprecedented is the global physical gold shortage?

read more.....

gold continues to correct - expect the HUI to go the 200 level.....

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