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Gold amidst the COVID-19 Pandemic – BullionStar COO, Mr. Luke Chua on CNA938

1 day ago

On 27 May 2020, BullionStar’s COO Mr. Luke Chua spoke with CNA938 on the topic of gold investment amidst the COVID-19 Pandemic.
Topics discussed in the interview:– Current demand for precious metals in the current climate– Important questions investors should ask if they want to invest in gold– Will governments ban private gold ownership if they lose control of inflation?– Difference between paper gold, digital gold and physical gold
BullionStar is one of Asia’s largest bullion dealer based in Singapore, offering investors a one stop solution for buying, storing, selling, withdrawing and auditing of Gold, Silver, Platinum and Palladium. For more information, please visit
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BullionStar’s Bullion Center Re-Opening 2 June – Update of Services

11 days ago

BullionStar’s Bullion Center is re-opening 2 June. Place your order now and collect after we have reopened! We are open for online orders at 24/7! We offer FREE shipping for orders within Singapore and discounted rates for international shipping. Vault storage orders are processed as per normal. We are also accepting customer sell orders. Place your sell order now and hand over to us no later than 5 June. Click here for more information and a service update. Continue reading…

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Amid London gold turmoil, HSBC taps Bank of England for GLD gold bars

24 days ago

By Ronan Manly
During March and April, amid global financial turmoil, unprecedented demand for physical gold, refinery closures and a London lockdown, one question on the minds of many in the gold market was how HSBC London, the vault custodian of the SPDR Gold Trust (GLD), was consistently able to source huge amounts of gold bars to back the enormous inflows into the world’s largest gold-backed Exchange Traded Fund (ETF).
173 tonnes during London Lockdown
From Monday 23 March (the day Boris Johnson triggered the UK and London lockdown) to close of business 12 May, the SPDR Gold Trust claims to have taken in a massive inflow of 175 tonnes of gold bars, swelling its gold holdings from 908 tonnes to 1083 tonnes.
That’s an addition of approximately 14,065 large Good Delivery gold bars since

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QE Defender – Stop the QE Insanity | Helicopter Money and the Risk of Hyperinflation

May 3, 2020

Helicopter cash – Negative interest rates – Government and Central Bank Asset Purchases – Universal Basic Income. Central banks and governments across the globe have unleashed a series of monetary and fiscal interventions on markets and economies which are unprecedented in their magnitude and which are boarding on the destruction of the current financial system. Are we gearing up for a global hyperinflation?
In 2016 at FreedomFest in Last Vegas, BullionStar first launched the QE Defender game. 
With the central banks going all in on debasement of money by all means of quantitative easing and money printing, the QE Defender Game is more relevant than ever. We have therefore updated the characters of the game which can be played for free without registration here.

“There’s an infinite

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LBMA Gold Price benchmark ignoring market conditions, short-changing investors

May 1, 2020

While media focus has recently been on the current gold price dislocation between London spot and COMEX New York futures, there is another persistently large discount that so far has evaded the spotlight. That is the twice daily LBMA Gold Price benchmark.
By ignoring the much higher COMEX gold futures prices while setting the LBMA Gold Price auction starting price, the auction administrator IBA, with the blessing of the LBMA, is ignoring current market conditions in the gold market, thus short-changing global gold market participants and investors who all use the LBMA Gold Price benchmark as a critical reference and valuation rate. Continue reading…
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US Mint closes West Point, adding to American gold bullion coin shortage

April 18, 2020

As New York State extends its coronavirus shutdown until May 15, the global pandemic’s relentless onslaught on economic activity and bullion supply chains has claimed yet another victim, this time the US Mint’s bullion coin production facility in West Point – upstate New York, which announced on Wednesday evening April 13, a complete and indefinite shutdown.
Indefinite West Point Shutdown
During the West Point Mint’s indefinite shutdown, there will be no production of the 22 karat American Eagle gold bullion coins nor of the 24 karat American Buffalo gold bullion coins across the entire US Mint network, nor any distribution of the American Eagle gold bullion coins or American Buffalo gold bullion coins from the Mint’s stock of inventory to Authorized Purchasers (the Mint’s appointed

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COMEX Bombshell – Most eligible vaulted gold has nothing to do with COMEX

April 16, 2020

A newly discovered document from COMEX operator CME to the CFTC contains a full-scale admission that much of the ‘eligible gold inventory’ in COMEX New York vaults is held by long-term holders and cannot be included in deliverable supply.
The COMEX concedes that eligible gold should therefore have a 50% haircut applied. With this bombshell admission, it means there is far less gold available to deliver to gold futures holders than COMEX market participants currently think there is.
As the gold panic continues in New York, the CME document also contains another bombshell that COMEX is also considering using non-approved vaults as new sources of deliverable gold supply. Continue reading…
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How mints will be affected by the big jump in bullion coin demand

April 11, 2020

With the coronavirus sweeping across the globe, the demand for gold and silver coins as a hedge has exploded. BullionStar, for instance, has experienced “extreme” demand for precious metals over the last month. This race to precious metals has caused bullion coins to trade far above their intrinsic metal content priced at the spot price.
For instance, BullionStar recently announced that is it willing to buy Silver Eagle coins at a 25% premium to the spot price of silver.  Spot prices for silver and gold are predominantly established at the trading venues of the COMEX futures exchange in the U.S. and the LBMA market in London.
Below is a chart of the coin premium for Gold Eagles. They are currently trading at a 7.5% premium to spot at various bullion coin dealers.
Gold Eagle premium going

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Bullion Bank Nightmare as LBMA-COMEX Spread Blows Up Again

April 9, 2020

By Ronan Manly
The gaping price differential between spot gold and gold futures that has been plaguing the paper gold markets in London and New York for the last three weeks shows no signs of abating and is continuing to flare up.
In essence, the contango phenomenon we are seeing is one of gold futures prices trading far above spot gold prices, a sign of liquidity problems in the London gold market and a signal that something is completely broken between the world‘s two predominant “gold price discovery” trading venues – which both, by the way, trade paper gold.
As a reminder, London LBMA trades unallocated gold over the counter (OTC), a form of synthetic fractional gold derivative. The vast quantities of unallocated gold which are traded in London are then netted and cleared in an

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BullionStar – We are Open – Update of Services 7 April 2020

April 7, 2020

We are open! Important update to all BullionStar customers covering the impact of COVID-19 on BullionStar’s operation | BullionStar is open for orders but operate in limited capacity as an essential business with measurements taken against the spread of COVID-19
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LBMA and COMEX try to Reassure the Market – Twice in One Week

April 3, 2020

In the space of a week, the bullion bank dominated LBMA and CME(COMEX) in an air of panic, have issued not one, but two rushed out statements to try to placate the global gold market.
In the modern gold market this is unprecedented. While LBMA-CME claim that physical gold stocks in London and New York are at healthy levels, the reality is far more concerning. Continue reading…
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COMEX can’t find a 400 oz bar for its new 400 oz gold futures contract

March 31, 2020

As the LBMA and CME launch a new 400 oz gold futures contract to keep their paper gold show on the road, one slight problem – COMEX has no 400 oz gold bars.
As the LBMA and CME scramble to keep the paper gold show on the road and monopolise gold price discovery, they have now launched a new gold futures contract which is deliverable using 400 oz gold bars.
But according to the COMEX gold vault inventory report, there are no 400 oz gold bars in any of the COMEX approved vaults in New York. Is this yet again a giant smokescreen by the bullion bankers to retain power and control? Continue reading…
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LBMA colludes with the COMEX – To lockdown the global gold market?

March 25, 2020

With extreme demand and supply shortages in the physical gold market, it was only a matter of time before the paper gold markets in London and New York would come under strain. That time is now.
With the spot price of gold lagging the price of COMEX gold futures for the third day running, the LBMA is now colluding with the COMEX on bailing out bullion banks. But who is bailing out who and in what direction?
For when you trade limitless synthetic unallocated gold and de facto cash-settled  gold futures in a tag team shakedown, as the COMEX futures / London spot OTC brothers continually do in the CME and London Bullion Market Association (LBMA) controlled venues, while providing fictitious price discovery when the physical gold market is on fire, and there is no gold supply to be found, then

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In gold market coverage, Reuters confuses key points on demand, supply and pricing

March 23, 2020

Unprecedented demand for physical precious metals in an environment of equally unprecedented supply chain delays, creating real and present disconnects between the price of physical and the prices of COMEX/LBMA – all great material for reporters covering whats going on in the physical gold market in Asia. In theory you would think so. But not if you’re a Reuters reporter.
Every so often, Reuters contacts BullionStar, and we provide them with some observations on what the state of physical gold demand has been in Singapore during the most recent week, as well as explanations about the gold price and gold price outlook.
So when Reuters contacted us this week, we as normal, told them the lowdown, about a week which was probably one of the most interesting ever from a physical bullion

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Banknotes and Coronavirus

March 20, 2020

With coronavirus sweeping the globe, central banks are updating their banknote distribution practices.
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BullionStar Update – The Window to Purchase Precious Metals with Fiat Currency is Closing

March 19, 2020

More and more refineries, mints and fellow bullion dealers are suspending their operations indefinitely. At BullionStar, we are facing significant operational and stock inventory challenges. There’s an acute shortage for particularly Gold Coins, Silver Bars and Silver Coins. For Gold Bars, some of the private refineries are still open and take orders but have long backlogs.
COMEX and London OTC Spot Price Discovery Failing
What does this mean for price premiums?
Due to the paper spot and futures precious metals markets not reflecting the demand and supply for physical precious metals, premiums are high and are fluctuating a lot.
The precious metals price premium mechanism is there to balance physical demand and physical supply of precious metals.
Despite higher than normal premiums, demand

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Will Gold be the Last Man Standing as Perfect Storm hits Markets?

March 16, 2020

From the plunge in European stock markets beginning Monday 24 February, instability and volatility in financial markets across the world has continued to reel for some three weeks now. In fact, the market carnage and turmoil has been progressively intensifying leaving no asset class immune. A generational perfect storm.
Triggered by the rapid spread of the coronavirus COVID-19, and amplified by a massive fall in global oil prices after lack of agreement on OPEC oil production output, the corrections and gyrations across stocks, bonds, foreign exchange, commodities and everything in between are also arguably an overdue market adjustment to years of asset bubbles, volatility suppression and elevated stock prices created by continuous central bank stimulus and interventions.
Ironically, with

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Gold Shortages – Price of Physical Gold Decouples from Paper Gold

March 14, 2020

Dear BullionStar Customers and Friends, This is an important update about our company and the current state of the precious metals industry. Order Records In the last month, from 14 February 2020 to 14 March 2020, we have seen a record number of orders, record order revenue and a record number of visits to our newly renovated and extended bullion centre at 45 New Bridge Road in Singapore.
For the above-mentioned period, we have served 2,626 customers with a sales revenue of more than SGD 50 M, which is 477% higher compared to the same period last year.
The last few days have been our busiest days of all time. Our staff members have been doing a fantastic job in going out of their way to serve as many customers as possible.
With order volume increasing to this magnitude, it’s difficult for

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Eight centuries of interest rates – JP Koning – BullionStar

February 5, 2020

Peter Schiff has called negative interest rates an absurdity, Kevin Muir thinks they are an abomination, and ex-Credit Suisse CEO Oswald Gruebel thinks they are crazy. But is today’s negative interest rate environment really so strange?
To understand the present, it always helps to step back and get the bigger picture. Which is why I want to spotlight a recent paper that mines through historical documents for 800 years worth of interest rate data.
In case you’ve missed it, many parts of the world are characterized by negative real interest rates. Investors in 5-year German bonds currently earn -0.6% per year in interest. That’s right. Investors must pay the government for the right to hold a bond for five years.
Compounding the burden of holding a German bond is inflation, which in Europe

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LBMA claims record amount of gold in London’s vaults

January 4, 2020

By Ronan Manly – January 4, 2020
This week the LBMA in London claims that a record 8,228 tonnes of gold is held in the London vaults, vaults which include those at the Bank of England and the commercial vaults of such bullion banks as JP Morgan and HSBC.
But beyond the headline figure, how much of this gold is available to underpin the gargantuan daily trading volumes of the London gold market? Very little as it turns out.
Instead of cheer-leading and calling up the Guinness Book of Records, should not the Market be sounding alarm bells that in terms of the giant London casino, there is practically no gold to back up mammoth outstanding unallocated gold claims? Continue reading…
Given that LBMA monthly London vaulted gold holdings data is published on a 3-month lagged basis and was (with

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Quantum leap for banks as ABN AMRO questions gold price discovery

December 13, 2019

By Ronan Manly
Earlier this week, an interesting article appeared on the website of the major Dutch bank ABN Amro, written by the bank’s currency and precious metals strategist, Georgette Boele.
The article, titled “A world with two gold prices?“, questions how, if gold is a safe haven asset, its price has not continued to reflect the ongoing crisis and stress in financial markets.
Boele then seeks an explanation of this puzzle in terms of a framework which consists of both safe haven gold demand and speculative gold demand, one of which reflects the purchase of physical gold (safe haven demand), and the other which speculates on the gold price via paper and synthetic gold products (speculative demand) which are not physically backed by gold.
This leads her to the observation that safe

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