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NotThe1
01-15-2009, 11:38 PM
Merrill Lynch Says Rich Turning To Gold Bars For Safety
Merrill Lynch has revealed that some of its richest clients are so alarmed by the state of the financial system and signs of political instability around the world that they are now insisting on the purchase of gold bars, shunning derivatives or "paper" proxies.

Rich investors are spurning gold exchange traded funds in favour of krugerrands.

Gary Dugan, the chief investment officer for the US bank, said there has been a remarkable change in sentiment. "People are genuinely worried about what the world is going to look like in 2009. It is amazing how many clients want physical gold, not ETFs," he said, referring to exchange trade funds listed in London, New York, and other bourses.
Merrill Lynch Says Rich Turning To Gold Bars For Safety | RETROGRESSING (http://retrogressing.com/01/merrill-lynch-says-rich-turning-to-gold-bars-for-safety/)
2009 January | RETROGRESSING (http://retrogressing.com/2009/01/)

Dogstar23
01-19-2009, 01:25 PM
What is truly shocking (as this news isn't surprising at all), is that the price per ounce of gold is still as low as it is. I've seen a neverending stream of advertising to "Buy Your Gold" recently. And while the spot price may be low, actually locating physical precious metals at anywhere near spot price is becoming more and more difficult.

BlueAngel
01-19-2009, 02:07 PM
I wouldn't buy anything that a financial investment company pushes.