miércoles, 10 de julio de 2013
Buy Bars of Gold
Why buy bars of gold? Gold bars are probably one of the best buys today. Gold has held its value over many years. with one ounce of gold you can still purchase exactly the same goods and services now as you could 20 and even 50 years ago. The same cannot be said for currency which fluctuates wildly over the years and is subject to inflation, deflation and a myriad of other influences.
Bullion Coins
Bullion Coins
By Michael B. Clark
President, Solidus Associates, LLC
Wilmington, Delaware
The precious metals markets have been on a tear. In fact, precious metals have been the top performing asset class in recent years and with this trend looking likely to continue, many investors want exposure to these markets. But how does one go about making a precious metal investment that safely affords the investor with such exposure?
To be sure, there are numerous precious metal investment vehicles available to the individual investor today – including futures and options contracts, government certificates, digital gold, exchange traded funds (ETFs), mutual funds, mining shares, as well as direct ownership of physical bullion itself. All enable an investor to add a precious metals component to his/her investment portfolio and participate in what is likely to become another multi-year secular market.
However, each of these vehicles is unique in its nature and complexity, and investing in them requires a specific understanding of their individual advantages/disadvantages and risks/rewards. This article provides an in-depth discussion about what is perhaps the easiest and most convenient way for individuals to acquire and directly own physical gold, silver, and platinum– by investing in precious metal products known as Bullion Coins.
Bullion coins are highly refined precious metal products that are round in shape (as opposed the rectangular shape of a bullion bar), and produced to exacting specifications by numerous federal governments throughout the world specifically for investment purposes. These coins are produced in large quantities and come in a variety of sizes -- typically one, one-half, one-quarter, and one-tenth troy ounces. Their content – that is, the weight and purity of precious metal they contain -- are guaranteed by the governments that produce them. They also are ascribed legal tender status in their country of origin, but are actually valued in the market for their precious metals content.
South Africa introduced the first investment bullion coin -- the gold Krugerrand -- in 1970. Since then, many more countries began to produce their own series of gold, silver, and even platinum bullion coins, including the United States (American Eagle), Canada (Maple Leaf), Australia (Kangaroo), Austria (Philharmonic) and China (Panda), to name but a few. For example, the United States Congress directed the U.S. Mint to produce the American Eagle Gold and Silver bullion coins in 1986 and later, the American Eagle Platinum bullion coin, in 1997.
To further understand the nature and function of a bullion coin, consider this excerpt from the United States Mint web site:
“A bullion coin is a coin that is valued by its weight in a specific precious metal. Unlike commemorative or numismatic coins valued by limited mintage, rarity, condition and age, bullion coins are purchased by investors seeking a simple and tangible means to own and invest in the gold, silver, and platinum markets.”
Bullion coins are referred to as “un-circulated coins,” because while they are bought and sold in the precious metals market place on a daily basis, they do so at values reflecting their precious metals commodity content, and they do not actually circulate in any of the world’s national economies, nor are they used as money, or as a medium of exchange, anywhere in the traditional commercial sense.
Today, bullion coins are widely traded as a form of precious metal commodities throughout a world-wide system of dealers and retailers, and their market values are globally publicized on a daily basis. Though ascribed legal tender status by the governments that mint them, bullion coins trade in the marketplace at a modest premium above the prevailing value of their precious metals content, typically 3 - 15%, depending on the size of the coin. Thus, their actual market value bears no direct relationship to what a given coin’s assigned legal tender (or “face value”) may be.
As an example, at the time of this writing, a one-ounce American Eagle gold bullion coin, which has a U. S. legal tender value of $50, was trading in the market place at about $700.00 (USD), while gold itself was trading at a “spot price” of approximately $665.00 (USD) per ounce. Thus, the price of the 1-ounce gold Eagle included a $35.00 (USD) premium (5%) above the prevailing gold bullion price.
It is important to understand that the premium charged for a bullion coin over the current “spot price” of the corresponding commodity it contains, reflects the costs of production, insurance, transportation, handling, and storage, as well as the manufacturer’s and the selling dealer’s profit, all of which are associated with the manufacturing, delivery and sale of the coin. This premium is not a value ascribed to the coin as the result of any scarcity or uniqueness considerations, as is the premium paid for rare coins. In fact, bullion coins are purposely manufactured in large volumes by federal governments to specifically ensure they do not become “rare” or “scarce,” but remain as common as the many types of bullion bars and ingots that are also produced by commercial refiners for investment purposes.
[Note: It is not uncommon for a federal mint to produce a separate series of specially manufactured, limited edition un-circulated bullion coins for given mint year. These particular coins, known as “proof coins,” are produced specifically for the coin collector and hobby markets, as they do often take on rarity (numismatic) characteristics, as a result of their limited mintage. Proof coins are a separate category of the bullion coins discussed in this article.]
Recognizing precious metals bullion coins as viable and widely held investment products, the Wall Street Journal and other leading financial publications the world over each business day publish the market prices not only of gold, silver, platinum and palladium bullion, but the prices the world’s most widely traded bullion coins, as well.
To be sure, there are significant advantages for the investor wanting to own physical precious metals to do so by buying bullion coins. For example, since they are produced and guaranteed by federal governments, bullion coins are universally recognizable by bullion and coin dealers, and by many banks, throughout the world. Thus, they are highly liquid and immediately tradable without the need for a costly and time-consuming assay, as may be required for bullion bars and ingots.
Moreover, many investors have found that the large quantity of bullion coins that may own is directly divisible, allowing them to readily sell or bequeath smaller quantities of their precious metals holdings at various points over time, as they may desire. For example, investors can easily and directly liquidate or gift some portion of 100 one-ounce pure gold Austrian Philharmonics, in 20-ounce, 25-ounce, or other desired increment at the time of their choosing, without any impact on the remaining Philharmonics in their investment portfolio. Conversely, if one held a 100-ounce gold bullion bar instead, its owner would first have to sell the bar and either convert it to smaller bars (or coins), or sell it for cash, in order to distribute or liquidate some smaller portions of it. This is a time-consuming, costly and inconvenient exercise.
Other advantages to owning bullion coins are that they are highly portable and are perfectly suitable for delivery, personal transport and/or storage in a bank safe deposit box or one’s own personal vault, if so desired.
Perhaps the only drawback to buying a large number of bullion coins (400 one-ounce coins, for example) is the somewhat higher premiums that must be paid initially when they are purchased, as compared to the somewhat lower premiums paid for an equivalent amount of precious metal that can be bought in bullion bar form (a 400-ounce gold bar, for example). However, the disadvantages of owning the bullion bar, as opposed to the bullion coins, are many (including its large size, the requirement for storage, and the need for a costly assay if personal delivery should be taken.). Besides, a significant portion of the premium one originally pays when acquiring bullion coins is re-captured at the time of their sale.
Without question, if one desires to reap the many benefits of owning precious metals as a part of his/her overall investment portfolio, direct ownership of the physical commodity through the acquisition of bullion coins is an excellent choice for investors. But, you should fully understand and be entirely comfortable with making such a purchase. To learn more about the advantages of owning precious metals bullion coins, be sure as with any investment, to do appropriate due diligence, and then talk with an experienced and reputable precious metals bullion dealer before you invest in them.
President, Solidus Associates, LLC
Wilmington, Delaware
The precious metals markets have been on a tear. In fact, precious metals have been the top performing asset class in recent years and with this trend looking likely to continue, many investors want exposure to these markets. But how does one go about making a precious metal investment that safely affords the investor with such exposure?
To be sure, there are numerous precious metal investment vehicles available to the individual investor today – including futures and options contracts, government certificates, digital gold, exchange traded funds (ETFs), mutual funds, mining shares, as well as direct ownership of physical bullion itself. All enable an investor to add a precious metals component to his/her investment portfolio and participate in what is likely to become another multi-year secular market.
However, each of these vehicles is unique in its nature and complexity, and investing in them requires a specific understanding of their individual advantages/disadvantages and risks/rewards. This article provides an in-depth discussion about what is perhaps the easiest and most convenient way for individuals to acquire and directly own physical gold, silver, and platinum– by investing in precious metal products known as Bullion Coins.
Bullion coins are highly refined precious metal products that are round in shape (as opposed the rectangular shape of a bullion bar), and produced to exacting specifications by numerous federal governments throughout the world specifically for investment purposes. These coins are produced in large quantities and come in a variety of sizes -- typically one, one-half, one-quarter, and one-tenth troy ounces. Their content – that is, the weight and purity of precious metal they contain -- are guaranteed by the governments that produce them. They also are ascribed legal tender status in their country of origin, but are actually valued in the market for their precious metals content.
South Africa introduced the first investment bullion coin -- the gold Krugerrand -- in 1970. Since then, many more countries began to produce their own series of gold, silver, and even platinum bullion coins, including the United States (American Eagle), Canada (Maple Leaf), Australia (Kangaroo), Austria (Philharmonic) and China (Panda), to name but a few. For example, the United States Congress directed the U.S. Mint to produce the American Eagle Gold and Silver bullion coins in 1986 and later, the American Eagle Platinum bullion coin, in 1997.
To further understand the nature and function of a bullion coin, consider this excerpt from the United States Mint web site:
“A bullion coin is a coin that is valued by its weight in a specific precious metal. Unlike commemorative or numismatic coins valued by limited mintage, rarity, condition and age, bullion coins are purchased by investors seeking a simple and tangible means to own and invest in the gold, silver, and platinum markets.”
Bullion coins are referred to as “un-circulated coins,” because while they are bought and sold in the precious metals market place on a daily basis, they do so at values reflecting their precious metals commodity content, and they do not actually circulate in any of the world’s national economies, nor are they used as money, or as a medium of exchange, anywhere in the traditional commercial sense.
Today, bullion coins are widely traded as a form of precious metal commodities throughout a world-wide system of dealers and retailers, and their market values are globally publicized on a daily basis. Though ascribed legal tender status by the governments that mint them, bullion coins trade in the marketplace at a modest premium above the prevailing value of their precious metals content, typically 3 - 15%, depending on the size of the coin. Thus, their actual market value bears no direct relationship to what a given coin’s assigned legal tender (or “face value”) may be.
As an example, at the time of this writing, a one-ounce American Eagle gold bullion coin, which has a U. S. legal tender value of $50, was trading in the market place at about $700.00 (USD), while gold itself was trading at a “spot price” of approximately $665.00 (USD) per ounce. Thus, the price of the 1-ounce gold Eagle included a $35.00 (USD) premium (5%) above the prevailing gold bullion price.
It is important to understand that the premium charged for a bullion coin over the current “spot price” of the corresponding commodity it contains, reflects the costs of production, insurance, transportation, handling, and storage, as well as the manufacturer’s and the selling dealer’s profit, all of which are associated with the manufacturing, delivery and sale of the coin. This premium is not a value ascribed to the coin as the result of any scarcity or uniqueness considerations, as is the premium paid for rare coins. In fact, bullion coins are purposely manufactured in large volumes by federal governments to specifically ensure they do not become “rare” or “scarce,” but remain as common as the many types of bullion bars and ingots that are also produced by commercial refiners for investment purposes.
[Note: It is not uncommon for a federal mint to produce a separate series of specially manufactured, limited edition un-circulated bullion coins for given mint year. These particular coins, known as “proof coins,” are produced specifically for the coin collector and hobby markets, as they do often take on rarity (numismatic) characteristics, as a result of their limited mintage. Proof coins are a separate category of the bullion coins discussed in this article.]
Recognizing precious metals bullion coins as viable and widely held investment products, the Wall Street Journal and other leading financial publications the world over each business day publish the market prices not only of gold, silver, platinum and palladium bullion, but the prices the world’s most widely traded bullion coins, as well.
To be sure, there are significant advantages for the investor wanting to own physical precious metals to do so by buying bullion coins. For example, since they are produced and guaranteed by federal governments, bullion coins are universally recognizable by bullion and coin dealers, and by many banks, throughout the world. Thus, they are highly liquid and immediately tradable without the need for a costly and time-consuming assay, as may be required for bullion bars and ingots.
Moreover, many investors have found that the large quantity of bullion coins that may own is directly divisible, allowing them to readily sell or bequeath smaller quantities of their precious metals holdings at various points over time, as they may desire. For example, investors can easily and directly liquidate or gift some portion of 100 one-ounce pure gold Austrian Philharmonics, in 20-ounce, 25-ounce, or other desired increment at the time of their choosing, without any impact on the remaining Philharmonics in their investment portfolio. Conversely, if one held a 100-ounce gold bullion bar instead, its owner would first have to sell the bar and either convert it to smaller bars (or coins), or sell it for cash, in order to distribute or liquidate some smaller portions of it. This is a time-consuming, costly and inconvenient exercise.
Other advantages to owning bullion coins are that they are highly portable and are perfectly suitable for delivery, personal transport and/or storage in a bank safe deposit box or one’s own personal vault, if so desired.
Perhaps the only drawback to buying a large number of bullion coins (400 one-ounce coins, for example) is the somewhat higher premiums that must be paid initially when they are purchased, as compared to the somewhat lower premiums paid for an equivalent amount of precious metal that can be bought in bullion bar form (a 400-ounce gold bar, for example). However, the disadvantages of owning the bullion bar, as opposed to the bullion coins, are many (including its large size, the requirement for storage, and the need for a costly assay if personal delivery should be taken.). Besides, a significant portion of the premium one originally pays when acquiring bullion coins is re-captured at the time of their sale.
Without question, if one desires to reap the many benefits of owning precious metals as a part of his/her overall investment portfolio, direct ownership of the physical commodity through the acquisition of bullion coins is an excellent choice for investors. But, you should fully understand and be entirely comfortable with making such a purchase. To learn more about the advantages of owning precious metals bullion coins, be sure as with any investment, to do appropriate due diligence, and then talk with an experienced and reputable precious metals bullion dealer before you invest in them.
domingo, 23 de junio de 2013
What Gold to Buy
What gold to buy is a question often asked. There is such a wide choice of gold available in today's market place it can be difficult to decide which to buy.Gold bullion in the form of gold coins and gold bars, ingots, Exchange Traded Funds, gold nuggets (those found in river beads and directly on the ground), gold jewelry and others.
What gold to buy will depend very much on your reasons for buying gold as well as your budget.
If you are buying gold purely for decorative purposes or because you like specific gold jewelry or gold coins then of course that would be the way to go. Investment is not an issue in this case so only your budget will dictate how much gold to get in the form of jewelry or coins. One is buying for beauty and aesthetic reasons in this case.
There are many beautiful gold coins to collect and it can be rather fun to collect a specific set of gold coins over a period of time. Proof coins are often the best coins to collect and by slowly building up a collection one can have something impressive to show off to friends.
If you are buying gold more for investment purposes then the price you are paying for the gold becomes important. Small coins are bars are generally not worthwhile as the mark up of premium you pay will be as much as, if not more than, the value of the gold. A minimum of one ounce up to one kilo of gold is better as the amount you pay over the spot value of gold will be much less and you will recoup your investment much quicker as a result.
This is why Exchange Traded Funds (ETFs) are so popular. You generally only pay a small amount over the spot price (the brokers fee basically) and you then hold a certificate representing the amount of gold held for you in a bank vault. One of the issues with ETFs is the tax payable on the gains made. ETFs are considered more of an investment than coins or jewelry and so taxable.
For those who are keen to actually hold the gold in their hands then gold bullion in the form of bars is probably more appropriate.
What gold to buy is important and whatever form of gold you prefer and for whatever reason, you are likely to be happy to increase your assets and put your value in something more substantial than paper money.
Unusual Gold Coins
Unusual Gold Coins
There are some unusual gold coins out there in the market place. These include the Augustus Humbert $50 gold slugs. These were octagonal (eight sided) in shape and a recent example sold for nearly $290,000 US dollars. Well over the few ounces of gold contained therein.
Also known as ‘slugs' these types of coins are also known as facsimiles and are one of the most expensive and elusive coins for collectors. They represented very large gold coins struck in California.
They were meant to be used by miners and the pioneers of the day during the gold rush. A very rough and ready coin as it were. They were originally termed 'ingots' due to their large weight and face value of 50 US dollars but because of their size become known as slugs.
The government withdrew the 50 dollar slugs from circulation around 1954 and they are now quite rare with only around 40 known to exist.
They can cost anywhere from 10,000 dollars up to over 250,000 each depending on which mint, condition and age.
For example the 1915 Panama-Pacific International Exposition 50 dollar commemorative
Gold coin was minted in two versions, the octagonal as mentioned above and the traditional round.
They are among the most unusual coins available albeit for their remarkable history and rarity.
There are many other unusual gold coins available and half the fun is discovering them and the unique history that usually surrounds them.
If you are fortunate enough to ever come across one of these unusual gold coins and can afford the price, they would make a phenomenal addition to your collection not to mention the prestige and you would surely be a very happy individual.
http://buying-gold.goldprice.org/2006/03/unusual-gold-coins.html
There are some unusual gold coins out there in the market place. These include the Augustus Humbert $50 gold slugs. These were octagonal (eight sided) in shape and a recent example sold for nearly $290,000 US dollars. Well over the few ounces of gold contained therein.Also known as ‘slugs' these types of coins are also known as facsimiles and are one of the most expensive and elusive coins for collectors. They represented very large gold coins struck in California.
They were meant to be used by miners and the pioneers of the day during the gold rush. A very rough and ready coin as it were. They were originally termed 'ingots' due to their large weight and face value of 50 US dollars but because of their size become known as slugs.
The government withdrew the 50 dollar slugs from circulation around 1954 and they are now quite rare with only around 40 known to exist.
They can cost anywhere from 10,000 dollars up to over 250,000 each depending on which mint, condition and age.
For example the 1915 Panama-Pacific International Exposition 50 dollar commemorative
Gold coin was minted in two versions, the octagonal as mentioned above and the traditional round.
They are among the most unusual coins available albeit for their remarkable history and rarity.
There are many other unusual gold coins available and half the fun is discovering them and the unique history that usually surrounds them.
If you are fortunate enough to ever come across one of these unusual gold coins and can afford the price, they would make a phenomenal addition to your collection not to mention the prestige and you would surely be a very happy individual.
http://buying-gold.goldprice.org/2006/03/unusual-gold-coins.html
SPANISH GOLD COINS
Of all the Spanish gold coins the Doubloon always seems to bring echoes of the romance and adventures of pirates and buccaneers.As with Spanish silver, Spanish gold coinage was popular around the world. The basic gold coin was the eight escudo piece, often called a Doubloon. In 1537 eight escudos was set at 27.4680 grams of .92 fine gold (22-carat gold). In 1728 the weight was reduced to 27.06429 grams, and then in 1772 the fineness was reduced to .90103. The Spanish escudo eventually became the standard by which other gold coins were measured.
Different to the silver escudos, the gold escudos were only used by the wealthy so tend not to be worn down as much. Therefore, the earlier escudos tend to command a high price, sometimes in the thousands, depending on the actual condition of the coin.
For example an 8 Escudos gold coin struck from the Popayan Mint with a weight of 27.0 grams can fetch up to 1400 dollars US or more. A 4 Escudos coin minted in Madrid and weighting 13.5 grams will fetch up to $795.00.
There are hundreds of different Spanish gold coins and many collectors specialize in collecting Spanish gold coins only, building up an impressive collection with a very high value.
When buying such coins one should seek a reputable dealer and insist upon a certificate of authenticity. This should apply to the newer coins as well as the ancient and especially for ‘shipwrecked’ coins. That is coins found in shipwrecks as salvage.
There are two types of certificates here. For shipwrecked coins there is the original certificate supplied by the original company who handle the salvage and distribution of such coins. The other is for normal coins, which is to say non shipwrecked coins.
What ever type of Spanish gold coins one collects one can be assured of an absorbing hobby that could even turn out to be quite profitable as well!
domingo, 9 de junio de 2013
PRECIO DEL ORO
Jim Rogers: Precio del oro seguirá a la baja en 2013
(OroyFinanzas.com) – Félix Moreno entrevistó a uno de los inversores más importantes del momento, Jim Rogers. Recientemente, Rogers ha publicado un nuevo libro, Inteligencias callejeras (Street Smarts) en el que recoge sus vivencias desde sus orígenes en Alabama hasta recalar en Singapur. El principal objeto de interés en una entrevista o en unas declaraciones de Rogers es oír sus recomendaciones y análisis de la cotización del oro y, en general, del resto de metales preciosos. En los últimos meses ha sido uno de los gold bugs –analistas que dedican su tiempo a recomendar constantemente el mercado del oro– que ha pedido una corrección “saludable” del precio del oro y, a la vista de los resultados, lo ha conseguido.
En este sentido, Rogers cree que el precio del oro va a continuar en los próximos meses ajustándose, tras doce años de crecimiento continuo del precio: “La anormalidad fue que el oro subiera durante 12 años en vertical. Esto no es normal, no es una acción típica. Es anormal, lo cual me preocupa y debería preocupar a los demás gold bugs”.
Esta corrección en el precio del oro ha cogido por sorpresa a muchos inversores, fieles creyentes imbuidos en la mística del oro, los cuales creían que el precio del oro no podía llegar a caer un 30%. Después de esto, los agentes están tomando con más cautela los movimientos del mercado. El oro vuelve a ser una commodity más, dejando de tener el papel protagonista que ha tenido en los últimos años. Sin embargo, el propio Rogers reconoce que existe una diferencia muy grande con respecto a otras materias primas como el petróleo o el gas natural.
Rogers también es conocido por sus análisis de los países en desarrollo y, muy especialmente, el gigante asiático. China es el país que tiene un futuro más brillante y prometedor del conjunto de los BRICs. Sin embargo, el principal problema de estos países emergentes es el caos institucional y el respeto a los derechos de propiedad. Este problema no existe en Singapur, país de residencia de Jim Rogers. Singapur es un país en el que, a pesar de tener unas condiciones climáticas extremas, una orografía imposible y una cuota de territorio cultivable mínima; la seguridad jurídica y la definición clara de los derechos de propiedad han sido los responsables de la prosperidad de este país.
El ejemplo de libertad económica que da Singapur, nada tiene que ver con lo que ocurre, por ejemplo en Estados Unidos. La Nación americana, a juicio de Rogers, es el paraíso de la deuda. Subraya la escasa voluntad que tienen las autoridades de parar el crecimiento de la deuda y empezar a ajustar el presupuesto público. Mientras existan QE y medidas extraordinarias de expansión monetaria, la deuda no va a parar de crecer y se convierte, además, en un viaje a ninguna parte puesto que no existe un Plan B para no hundir a la economía en hiperinflación.
“El plan de escape del señor Bernanke es dejar su trabajo. Él no quiere participar de la resaca. No quiere participar de las consecuencias que él mismo está provocando”. Con estas palabras, Rogers deja claro que no existe un plan de salida de los QE y que, si existe, lo desconoce. La guerra de divisas continuará con “más madera” de la Fed, el Banco de Inglaterra o el Banco de Japón.
Fuente: Zero Hedge
© OroyFinanzas.com
DINAMICA DEL ORO
Browne explica la dinámica del mercado de oro de inversión
(OroyFinanzas.com) –John Browne es un antiguo diputado del Partido Conservador británico. En este momento, es asesor y consultor estratégico en la asesora Euro Pacific Capital, de la cual es miembro fundador. Browne posee un Blog en la web de la consultora, en el cual semana a semana publica un comentario. En esta semana, Browne explica algunas cuestiones referidas a las tendencias del mercado del oro bajo este título: “Entendiendo la dinámica del mercado del oro”.
Browne inicia su comentario criticando el tratamiento que se da en los medios de comunicación al mercado del oro: “La prensa económica se ha equivocado al considerar las diferentes motivaciones y creencias que conducen a los diferentes tipos de inversores activos en el mercado del oro. Para tratar el mercado del oro como si estuviera concentrado en un único tipo de inversor, los informadores han arrojado falsas conclusiones sobre la reciente volatilidad”.
A juicio de Browne, el mercado del oro está compuesto por inversores que invierten a largo plazo y que creen que el oro es un depósito de valor más fiable que el dinero fiduciario y, por otro lado, por agentes financieros cortoplacistas cuyo objetivo es rentabilizar los vaivenes del mercado. Cada uno de estos dos grupos tiene un horizonte temporal diferente y unos objetivos distintos.
Inversores del mercado del oro de inversión a largo plazo
Para el primer grupo, el objetivo es resguardarse de la inflación y la incertidumbre de los mercados. Estos compran oro en formato papel a través de fondos cotizados ETF’s y también oro físico, aunque en el mercado del oro físico hay gran cantidad de Bancos Centrales que comercian con lingotes para sus reservas.
Inversores del mercado del oro de inversión a corto plazo
Por el contrario, el segundo grupo persigue únicamente aprovechar las fluctuaciones del mercado. No se preguntan por qué invierten en oro, simplemente lo hacen porque creen que en las subidas o bajadas hay una oportunidad de hacer dinero. Especialmente los hedge funds atienden a los movimientos del mercado cuando se produce alguna noticia relevante que afecta a los grandes inversores institucionales –Goldman Sachs, JP Morgan y sus reservas en el COMEX– y entran en el mercado con una estrategia clara y contundente.
En este momento tan importante en el plano monetario y mientras se está incubando un proceso inflacionario –quizá incluso hiperinflacionario– los economistas y gobernantes, zambullidos en el pensamiento único acrítico intentan acallar las voces de los que reclaman orden y disciplina en los mercados y alertan de los enormes desequilibrios presentes y futuros. Sin embargo, estas llamadas a la distracción no calan en una buena parte del mercado, la cual sigue demandando oro y plata en cantidades crecientes.
Incluso, la gran mayoría de los Bancos Centrales que están interviniendo de una forma muy activa en la creación de inflación está atesorando a marchas forzadas toneladas de lingotes de oro, bien sea comprándolo en el mercado o bien repatriando reservas que tenían colocadas en otros países, tal y como hemos informado ampliamente en las últimas semanas desde OroyFinanzas.com.
En lo que llevamos de año, la demanda de oro se ha desplazado hacia el oro físico. China, India y los Estados Unidos son buenos ejemplos de cómo la demanda de oro físico se está fortaleciendo cada vez más y conviviendo con los sucesivos programas de expansión monetaria QE. Los fondos cotizados ETF del mercado del oro están sufriendo una pérdida significativa de reservas en el primer trimestre de este año, concretamente 176,9 toneladas de oro, las cuales se han desplazado hacia otros agentes del mercado.
El futuro del mercado del oro es muy amplio. En la semana pasada, bastó una insinuación del presidente de la Reserva Federal de los Estados Unidos, Ben Bernanke, para que las bolsas cayeran y los precios de los bonos bajaran. La burbuja existente tiene que seguir alimentándose de los billones de dólares que produce la Fed y otros Bancos Centrales y, por tanto, cualquier noticia que suponga poner en peligro esta posición terminará repercutiendo de forma extraordinariamente negativa en los mercados de valores.
Fuente: John Browne’s Blog in Euro Pacific Capital
© OroyFinanzas.com
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