Gold runs out in German rush
Allan Hall in Berlin

10.10.08

Risk-averse Germans are turning to gold in troubled times - but there's none left.

German gold dealers say demand has skyrocketed this past week to 10 times normal so no more orders can be taken for the foreseeable future.

"The demand exceeds our capacities by a great deal," said Heiko Ganss, head of precious metal company Pro Aurum.

"The requests cannot be satisfied right now," a dealer from the Düsseldorf WGZ Bank confirmed.

"Demand for gold as a conservative investment has risen dramatically," said stephan Henkel. "right now the demand is about 10 times as high as in normal times."

Gold deliveries now take between four and six weeks.

The US mint said on Monday it had exhausted some of its supply of bullion coins and was struggling to meet demand for gold, silver and platinum.

South Africa's Rand Refinery, producer of the world's most popular gold bullion coin, the Krugerrand, temporarily ran out of the coins in August.

http://www.thisislondon.co.uk/standard-business/article-23571196-details/Gold%2Bruns%2Bout%2Bin%2BGerman%2Brush/article.do



http://www.republicbroadcasting.org/

"If we don't believe in freedom of expression for
people we despise, we don't believe in it at all."

-Noam Chomsky

This is why there are always spots on tv where you are asked to sell your gold. I also get lots of Post these days where they are begging for my gold. Maybe we should ask the jews? We all know jews always got some Gold on their Body.

I think it shows that many people in Germany have a good understanding of the current economic situation and know how to protect themselves.



http://www.republicbroadcasting.org/

"If we don't believe in freedom of expression for
people we despise, we don't believe in it at all."

-Noam Chomsky

Germany could pay for the initial 20 billion by selling some at the current high of Gold, the German state holds the second largest amount after the United States. I would do so now, thats why we keep such a reserve.

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A German Soldier doesnt die, he goes to hell and regroups !

nah we need the money for ww3

anyways... we have some nice propaganda on tv these days

Yeah, and when your a hundered years old you will have made 2% a year while inflation was running at 3 - 5 % ... Great thing Next year my dividends will roll again.

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A German Soldier doesnt die, he goes to hell and regroups !

flock mentality. they should rush for gold three months ago.

All this hysteria is a good contrary signal to sell gold. With tight credit and collapsing asset prices, we are entering a deflationary period. I wouldn't be surprised if gold trades below $500 in a year.

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where are we now? BUY or SELL?

The average person sucks balls at financial decisions, they are like herds of sheep and the media is their shepard. Hell the experts aren't that great either, now imagine all those doctors and engineers who think they know everything about finance cause they know phrases like leverage and going long/short. Please.

gold price is down by 8% today.

the stocks are up instead. LOL.

who wants to put their balls on the table that the reverse will happen same time next week? aka gold up, stocks down?

or is the phenomenon just ridges and valleys over the bigger hills and canyons?