In May 2016 the US imported 20.7 mt of gold from Switzerland.
One commentator suggested the amount is roughly the same as the amount being stood for delivery at the COMEX which is much much higher than normal.
Nowadays it appears during gold and silver ‘take downs’ there are new players with deep pockets on the long side. China? Ruskies?
Since the US ‘supposedly’ has 8000 tons of gold tucked away one could ask why it needs to import gold from Switzerland.
Is the threshold of “empty vaults running on fumes” now approaching?

Mr. Yen Sees Rally Toward 90 per Dollar Spurring Intervention

Since gold often moves inversely to USD/JPY this suggests a much higher price of gold.

At present the currency pair is around 101 with gold at 1370.

Anybody buy gold or silver from Gold Professionally AG or their subsidiary Gold Professionally Austria GmbH?
They run a service to buy precious metals and store them for you.

The Swiss authority FINMA has forced Gold Professionally AG into liquidation because they are not happy that the precious metals are actually stored anywhere.

There was an inventory audit by a Zürich lawyer, Theodore G. Seitz, last October that showed everything was OK but he says it was an audit of the company records; not an actual physical check of stocks.

Source (German language).

It seems that a gold bullion backed ETF sponsored by the Deutsche Bank (Xetra-Gold) which promises clients the service of a physical delivery of their gold on demand, has had some difficulties meeting this promise:
http://www.marketslant.com/articles/...ry-allegations

There is a lot more paper gold out there than real gold. One day, there could be a big problem if people start losing confidence and want to get their hands on the real stuff.

But this has been alleged so often already that it can hardly come as surprise to anybody, if (or rather when) it will happen.
Those bonded warehouses are booming not only for tax reasons...

From a Bloomberg story:
"Deep in the Swiss Alps, next to an old airstrip suitable for landing Gulfstream and Falcon jets, is a vast bunker that holds what may be one of the world’s largest stashes of gold."

http://www.bloomberg.com/news/articl...-bank-accounts

The location of this gold vault and airstrip is secret according to the article. However, since a Gulfstream normally needs around 5,000 feet to take off and land and Switzerland is not a large country, you wouldn't think it should be too difficult to determine where it is. Except that there are 17 former military airports in the country:

https://old.hermannkeist.ch/ausgemus...ugplaetze.html

I was wondering what to do this weekend!
Just need to dig out my metal detector and crowbar

This post on another thread might interest some of you...

New Gold Pool at the BIS Basle, Switzerland: Part 1
https://www.englishforum.ch/2787235-post23.html

Has anyone had experience of posting gold coins to the UK in small quantities (10 to 20 sovereigns)?
I looked at using Swiss Post but their rules do not allow gold to be sent through their service. I see Fedex and UPS should be able to do this.

VAT will be payable AFAIK.

Not sure if it will always be so but Chard says in Jan. 2000 VAT was abolished on gold Sovereigns.

https://goldsovereigns.co.uk/taxfree.html

Gold (in CHF) touching its highest for over 4 years.

Might be driven by unexpected increase in domestic US inflation.

It's weakness in CHF v USD

Actually gold in USD is also very close to a breakout level. The price now is $1337. The first resistance level is only $8 away at $1345. That peak was built in the middle of 2017. That $1345 level could be tough to break, but if it does, then the next resistance level is $1366. This is from more than 2 years ago, which means it is now only weak resistance.

If we break $1366, then it’s plain sailing to over $1’600, by which time everyone will be increasing their weighting.

What’s driving the rise?

- We have all major economies recovering and demand increasing. Demand for resources is rising, as are prices. This will feed through to PPI and later CPI. Gold tends to rise at the first whiff of inflation.

For the gold fanatics, the latest 'in gold we trust' is out:

https://ingoldwetrust.report/igwt-2018-en/?lang=en

On April 11 2018, Gold broke your magic barrier and hit $1369. Which is most likely also this year's high. In the meantime it went down bellow $1200 and is now a bit up at $1231. So much for your chart voodoo and "sailing over $1600".

Gold back over $1300 again!

Probably thanks to Trump causing uncertainty in the stock markets.
US stock futures pointing down again but in these uncertain times that could change rapidly

bought some for $1182 2 months ago, expecting it to soar in the coming years as dollar will be replaced as main currency and peak gold

Hahaha I just love goldbugs

Gold over $1340 now, I thought it was down to the falls in US stocks but they seem to be recovering quite well.

Gold futures are also higher.

US stock market was closed today, what will tomorrow bring?