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10 Reasons For Buying Gold

10-reasons-for-buying-gold

The timeless reasons for owning gold – the reasons behind gold’s universal role as real money – haven’t changed. In this article we’re taking a look at 10 reasons for buying gold.

Gold is still the best way of storing value over the long run. Therefore, your mindset shouldn’t change with short-term price fluctuations in the “paper” market. If you don’t already own gold today, you should consider buying physical gold bullion.

I hope you enjoyed this brief article about 10 reasons for buying gold

Don’t confuse physical gold with paper gold. Gold bullion is very different from buying and holding securities with exposure to gold. The paper market for gold is fraught with both counterparty risk and speculation, which makes it unsuitable as a long-term store of value.

The reason gold bullion is so special is that it’s durable, divisible, consistent, convenient, and have value in and of itself. These are characteristic that makes it unique.

Here is a list of 10 reasons for buying gold.

1. Gold is money

Gold is universal money – a tangible store of value and protection.

2. Gold preserves value over the long run

Gold has served as a way of preserving and protecting wealth throughout history. No fiat currency has ever stood the test of time – all of them have eventually returned to their intrinsic value, which is zero.

3. Gold acts as a crisis hedge

During periods of turmoil gold tends to increase sharply in value. It’s during these times that you will be especially glad that you hold gold.

4. Gold protects value during periods of higher inflation

Gold is a hedge against significant price increases in asset prices as well as the cost of living, because its price tends to rise when inflation increases dramatically.

5. Deflation

We haven’t seen a global deflation since the Great Depression of the 1930’s. This was a time when the gold price performed strongly. We have seen periods of significant uncertainty and deleveraging though, especially in the wake of the financial crisis of 2008. During this time gold performed very well in comparison with for example stocks.

6. Limited supply

Unlike paper money that can be printed on demand the supply of gold doesn’t change much.

It’s of course difficult to know for sure, but according to some estimates the total amount of gold ever to have been mined is about 165,000 metric tons. The annual supply of newly mined gold is about 2,500 metric tons.

The story with fiat currencies is different. Just between 2002-2012 the monetary base in the U.S. increased fourfold…

7. No counterparty risk

Gold is the only financial asset that at the same time isn’t someone else’s corresponding liability. When you buy a paper gold security or a futures contract you will always have a counterparty risk. The same applies to both bonds and stocks.

8. Gold is anonymous

You can buy and hold physical gold privately and anonymously.

9. Gold is portable

Gold bullion is very portable, liquid and easy to store. You can transport significant amounts on your own person.

10. Diversification

In a world that is getting increasingly globalized, assets tend to correlate more and more, meaning they move in tandem. Gold on the other hand has historically displayed negative correlation with other asset classes.

10-reasons-for-buying-gold-bullion

So ignore the “gold bull” comments from some people. Adding physical gold to an investment portfolio consisting of stocks and bonds is just common sense. Research show that returns often come from a sensible asset allocation strategy, rather than trying to cherry-pick the best investments.

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Why Own Gold

If you’ve never bought physical gold, silver, platinum or palladium before there are a number of reasons why you should consider doing this. In this article we answer the question…why own gold.

For many people buying precious metals doesn’t seem modern, and the rationale behind doing it unclear. In fact, that’s the way some people would like for you to see gold – as a historical relic not fit for modern use. As we soon shall see though, gold is actually a gauge of the effectiveness of the fiat monetary system.

It may be easy to think of our modern fiat currencies as “money” when in fact, they aren’t. They are basically IOU’s backed up by the government – a substitute for money. Gold on the other hand is money.

Gold has been around for ages as a monetary instrument. Coins containing gold appeared around 800 B.C. and the first pure gold coins were struck during the rein of King Croesus of Lydia about 300 years later.

Gold, and the other precious metals, display some unique characteristics, which makes them ideally suited as money.

Historically, many things have been used as money, but over time gold and silver have emerged as the best forms. The main reasons for this is that gold, predominantly, is durable, divisible, consistent, convenient, and have value in and of itself.

Let’s briefly examine each of these five reasons that originally were defined by Aristotle in the 4th century B.C.

Gold is durable because it won’t disintegrate if left in a bank vault or safety box. Other historical forms of money, such as bartering tools or food, do not display this characteristic.

Gold is also divisible as you are able to create both coins and bars from it. This is for example one of the characteristics not displayed by diamonds, which often is mentioned as a potential alternative type of money.  You can’t divide a diamond without destroying the value of the whole.

Gold also displays consistency. Many other types of money don’t. Real estate would for example not function as money as each type of property will be different.

Gold is also convenient as its value is of such an extent that one doesn’t have to carry several kilos to carry a significant amount of purchasing power.

Finally, gold has a value in itself. An intrinsic value. It can’t go to zero.

These five points are the main reasons why gold has managed to survive throughout the ages as the best preserver of wealth. There are further advantages with gold as money as opposed to fiat currencies, such as the fact that gold can’t be conjured out of thin air and that gold is the only type of asset that at the same time isn’t someone else’s liability. It comes with zero counterparty risk. This is extremely valuable today as we are seeing increased instability in our modern banking system.

When it comes to fiat money the story is very different.

There is no fiat currency that has survived the test of time. All paper currencies eventually end up being worth their intrinsic value – which is zero.

A good modern example of this is the U.S. dollar. Ever since the gold standard was abandoned in the U.S. there has been a steep decline in the dollars value. Since 1774 the dollar has lost over 90% of its value, as illustrated by the graph below. Gold displays a remarkable stability in contrast to this – 1 ounce of gold owned back in 1774 would still be 1 ounce of gold owned today in 2013.

So why is it that governments dislike the increased importance of gold, and prefer a paper system?

This is a much longer discussion, but what it basically comes down to is this. With a paper money system it is much easier to increase debt to fuel spending and “dabble” in the economy to try to control economic cycles – something that has been proven time and time again as unsuccessful. The state is also able to tax individuals indirectly through inflation with a paper money system.

Nowadays, our monetary system is not even paper based. These days, it’s just electronic numbers. By the press of a button central bankers are able to conjure money out of thin air. This all works until the day that confidence in the currency or system is lost. Gold is the opposite of the fiat currencies. It’s been around for ages and has preserved wealth successfully over the years as paper currencies have come and gone.

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Why Buy Gold and Silver Bullion Today

There is a wide range of factors that contribute to the rise in interest for precious metals. Find out why buy gold and silver bullion today.

Below are six of the key reasons (not in any particular order):

1. Negative real interest rates

negative_real_interest_rates

Interest rates in the developed world are close to zero with inflation rates running increasingly higher. This means that you virtually aren’t sacrificing any yield by owning precious metals. The opportunity cost is highly favorable. As there, usually, is a storage cost associated with gold and silver the general viewpoint is the higher the yield on government “risk-free” securities the less attractive metals will become. Precious metals don’t pay a yield, which is why people tend to want to buy and own them when they are facing negative or low real interest rates.

With U.S. rates poised to stay low to AT LEAST 2015 the chances of interest rates rising is slim.

2. The ownership of precious metals is low

gold_global_financial_assets

Institutional ownership as a percentage of global financial assets is low. Many pension funds have only a very limited exposure to gold.

gold_institutional_ownership

For individuals the situation is similar. In most of Europe and the U.S. you are swamped with advertising for “cash for gold”. People are encouraged to sell their gold at low prices. There is very little information about actually owning precious metals. Tell your friends that you think about buying a silver bar and they will look at you strangely.

3. The monetization of debt 

Us_debt_vs_gold

This is what many like to call the collapse of the fiat monetary system.

Many western and developed nation’s currencies will eventually not be worth the paper they are printed on due to the explosion of money printing. As currencies become increasingly worthless people will turn to precious metals as a means of wealth protection. Just like it has been throughout history gold is still money. Probably the only “currency” where you have no counterparty risk. Why will the fiat monetary system collapse? Well, at the rate the Fed, BOJ, ECB etc are printing money there really is only one direction we are heading in.

US_dollar_purchasing_power

For the U.S. specifically it will lead to the demise of the dollar as the worlds reserve currency. It is beyond the scope of this ebook to fully discuss this but suffice to say is that some international transactions already are settled in other currencies than the dollar. Also, some central banks in the world such as China and Russia are already discussing the possibility of replacing the dollar with a basket of currencies. We will probably also see some currencies being backed by gold in the future.

4. Central bank buying 

central_bank_buying_gold

After decades of selling gold central banks around the world are now net buyers again. Some, like China and Russia are aggressively buying gold.

5. Promotion of gold ownership 

Even though this might seem to contradict point 2 above, many countries around the world such as China actively promote private ownership of gold. I suspect we will see an awakening in western countries within the near future. Unlike Europe and the U.S., Asian and Middle Eastern economics have gone through wars, booms and busts more recently than us, and their populations are more educated about how to preserve wealth in a time of crisis. There is also a cultural relation to gold in many countries such as for example India.

6. There is a limited amount of precious metals 

limited_amount_of_gold

Just as the headline says, there is a limited amount of gold and silver produced every year so precious metals are scarce. All of the gold ever produced in the world would according to some calculations fit into three Olympic size swimming pools. Platinum is even more scarce than gold.Finally, precious metals are the ultimate insurance policy against inflation. As more and more citizens realize the irresponsible and reckless way U.S. and European governments are handling monetary and fiscal policies, they will increasingly turn to precious metals. This will make it more difficult to buy these assets going forward.

During periods of turmoil increased transaction costs is exactly what happens. We saw evidence of this during the financial crisis 2007-2008. At that time, gold buyers were forced to pay between a 9%-15% premium over the spot price to buy coins. And coins were hard to come by.

Shipping delays of 30-60 days were the norm and lags of up to four months were not uncommon. There were days when suppliers simply advised dealers not to sell, because no one could promise when, or even if, orders would be filled.

With all of this in mind it becomes clear that owning and having exposure to precious metals makes sense. It also makes sense to build a position gradually, at a time when you really don’t NEED to do it because it will be much more difficult when everyone else wants to build positions. To finding the cheapest silver bullion have a look at the suggestions blow.

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Please click below to access the best bullion distributors

BullionStar.com Singapore – cheapest bullion

BullionStar.com Singapore

Singapore cheapest bullion: https://www.bullionstar.com/ and BullionStar review

Liberty Silver Estonia – cheapest bullion

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Estonia cheapest bullion: https://www.libertysilver.ee/en/ and Liberty Silver Estonia review

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Buy Cheapest Bullion

Welcome to the premier online bullion discussion, rating and review site!

Why don’t you start off with reading about the cheapest silver bullion prices below or try some of our most visited sections such as bullion reviews or the bullion forum. In the column to the right you’ll find a list of recommended articles to read.

If you are interested in buying the cheapest silver bullion then you need to make sure you buy silver without paying any VAT or tax. The most secure location for buying and storing both gold and silver is Singapore. If you would like to buy the cheapest silver bullion in Europe you should look at Estonia. Below you´ll find my top recommendations for bullion distributors in both of these locations.

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Singapore – cheapest bullion

BullionStar.com Singapore

Singapore VAT free silver: https://www.bullionstar.com/

Estonia – cheapest bullion

Liberty Silver Estonia

Estonia VAT free silver: https://www.libertysilver.ee/en/

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Why Buy Gold and Silver Bullion in Singapore

why_buy_silver_in_Singapore

There are a many reasons why you should consider holding parts of your precious metal possessions in foreign locations. The most important factor is to get jurisdictional diversification. If you keep all of your assets in one single country you are taking a great risk. Going global now with your assets helps mitigate four serious risks to your financial health:

• Confiscation or Outlawing of personal gold ownership.

• Capital Controls – the government limits or denies a citizen’s right to carry or send any form of money abroad.

• Administrative Actions – seizure of property by a government agency without notice or due process. Becoming enmeshed in a frivolous civil lawsuit.

• Currency debasement/inflation that will lower one’s standard of living and destroy wealth not ad­equately protected.

These risks can be reduced but not completely eliminated. There is no perfect solution. Nonetheless, political diversity is an essential element of an overall protection strategy against an uncertain future.

When diversifying internationally it is important to be aware of that foreign held assets require more planning:

• Access to your precious metals may not be quick and easy. Foreign held bullion is for those with sufficient gold and silver already stored at or near home. Storing all your precious metals overseas defeats one of its purposes – to have it handy for an emergency.

• The receipt of proceeds after a sale will take time. The delay between selling your foreign-held gold and receiving the funds can be days. Offshore gold should not be considered as ready cash.

• While the US may pose the greatest threat, a foreign government could move to control certain assets as well. The risk varies by country and is generally greater within the banking system than with a private vaulting facility. Evaluate a country before making a selection. Choose a location with a history of strong depositor protection, governed by the rule of law, and solid property rights – and select a vault with the highest reputation.

• Understanding and complying with reporting requirements is essential.

The bottom line: gold stored abroad is all about minimizing risks and maximizing options. As your metal hold­ings grow and governments become increasingly desperate, diversification becomes increasingly important.

One of the safest locations that you can choose when buying gold and silver bullion is Singapore. It has one of the strongest economies and financial situations in the world as well as a very high level of security.

The best and most trustworthy dealer of gold and silver bullion in Singapore is BullionStar.com – they have an excellent supply of coins and bars, low prices and very high security. To find out more about how to buy the cheapest silver bullion in Singapore click below:

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Why buy gold and silver bullion in Singapore – BullionStar

Highly reliable service with the possibility of local storage in Singapore – perfect for your international diversification needs.

To place an order click here: https://www.bullionstar.com/

Get 2 years of free local, high-secure, storage in Singapore with BullionStar.com

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Please click below to access the best bullion distributors

BullionStar.com Singapore – cheapest bullion

BullionStar.com Singapore

Singapore cheapest bullion: https://www.bullionstar.com/ and BullionStar review

Liberty Silver Estonia – cheapest bullion

Liberty Silver Estonia

Estonia cheapest bullion: https://www.libertysilver.ee/en/ and Liberty Silver Estonia review

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Buy Bullion Online In Singapore

If you are looking to buy bullion online in Singapore make sure to choose the best bullion distributor.

buy-bullion-online-singapore

The premier location outside of Europe and the US to buy bullion is Singapore, which since October 2012 don’t levy GST on silver bullion or gold bullion. This means that you will save a considerable amount when purchasing silver bullion especially, compared to Europe where the cost typically will be an additional 10-25% depending on the value added tax level in the country where you live.

Paying an additional 10-25% will make your break even level a lot higher – especially at times when the market is under stress, when premiums can increase by up to 80-90%.

Singapore is attractive as a location due to its low level of crime, stabile economy and for being geographically separated from many bankrupt western nations. This means that you can buy and store your bullion in Singapore securely, without having the same concern about government confiscation as you would in many other countries.

When choosing a provider in Singapore for silver bullion storage and gold bullion storage I would recommend that you ensure that your distributor provides the services below:

Fully Allocated

All bullion ownership have 100% physical allocation

Segregated

Your bullion stored separately in your name

Insured

Full insurance at low cost

Audited

Storage facilities audited

Secured

Low risk jurisdiction with the most secure facilities

If you would like to buy bullion in Singapore and/or arrange for storage then I would recommend BullionStar.com, the premier distributor in Singapore.

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Bullionstar.com – Buy Bullion Online in Singapore

Visit BullionStar.com to learn more about the company.

Click here for more information: https://www.bullionstar.com/

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Please click below to access the best bullion distributors

BullionStar.com Singapore – cheapest bullion

BullionStar.com Singapore

Singapore cheapest bullion: https://www.bullionstar.com/ and BullionStar review

Liberty Silver Estonia – cheapest bullion

Liberty Silver Estonia

Estonia cheapest bullion: https://www.libertysilver.ee/en/ and Liberty Silver Estonia review

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Have gold and silver prices bottomed

Over the course of the last couple of months we’ve seen some exciting, and scary, action in the precious metals market. Predominantly for silver and gold. After free-falls in prices in April and June, July has come off to a considerably better start. The question is have gold and silver prices bottomed.

As the graph below shows, the gold price declined below $1200 in early July but have since staged a rally to $1334 – a move of 13%. In fact, on 22 July gold jumped up by 2.6%, it’s single biggest move in a year on a closing price basis.

have-gold-price-bottomed

Source: Stockcharts.com

The move for silver has been similar to that of gold. The spot price went from $18.50 to $20.50 between end of June and end of July – an 11% move. Just the other day the silver price increased by close to 5%, which is price action that we’ve not seen for a while.

have-silver-price-bottomed

Source: Stockcharts.com

We’ve covered many of the reasons for the latest price drops before. More recently, it’s all been about if the Fed will taper stimulus efforts or not. After the scare in June the discourse have been more balanced as of late, resulting in a much more positive climate for gold and silver. Lower prices have also attracted bargain hunters.

The interesting question now is of course if we’ll continue to see higher prices or not. There are appealing drivers that at least point to rising prices in the short term.

The crossing of the $1300 level for gold forced the closing of many short positions. According to the CFTC Commitment of Traders data, almost 11% of short positions in gold closed in the last week, which is the largest weekly drop in four months. The combined futures and options net long positions increased by 48%, which is the largest increase since November 2008.

Furthermore, the largest gold traders such as mining companies, banks, and dealers have fewer short positions today than they’ve had in a decade. The market thus seems to be more in favor of rising prices, at least in the short term.

The fundamentals for precious metals still haven’t changed. We are continuing to see unprecedented stimulus efforts from the world’s central banks as well as competitive currency devaluation – efforts which will prove very difficult to cease with.

Even so, there is a difference between getting a particular investment case right and getting the timing right for a particular trade.

For gold and silver prices the intermediate and long-term investment cases makes perfect sense. The drivers are as strong as ever. In the short term it still remains to be seen if we’ll continue to see a period of falling prices or not.

There are risks of further downward pressure such as ETF outflows and reduced demand from India. Excess liquidity creates potential risks for air-pockets where prices can gap and free-fall, which they’ve done twice recently. The likelihood for choppy trading going forward is high.

This is not a reason to stay out of the markets though as premiums, prices and other conditions quickly can change. It’s furthermore not a reason to go all in if we see a period of rising prices. It’s simply something to take into consideration as you lower your average cost per ounce by gradually increasing your allocation to gold and silver bullion.

Stimulus and Gold Bullion

We’re regularly confronted by news on whether the Fed will start tapering their stimulus efforts or not. This has been covered a lot in the media lately, but the discussions have actually been appearing from time to time ever since the wake of the financial crisis of 2008.

The FOMC meeting notes shows someone raising concern or simply mentioning the longevity or effectiveness of central bank stimulus efforts and the markets react negatively.

But how serious are these discussions and how effective is the stimulus in controlling interest rates and inflation?

First things first. Discussing tapering is not the same thing as actually doing it. Somehow acting on these comments, or discussions never seems to materialize. The reason why is very simple. It’s going to be close to impossible for the Fed to extract themselves from the market without causing unprecedented turmoil.

After a 20 year bond bull market we are starting to see cracks appear. The only reason why the U.S. government have been able to issue this much debt is due to artificially low interest rates – only made possible by the Fed. Interest rates are actually the lowest they have been in over 200 years – and if they were near their average, since the 1970’s, the 10 year rate would be closer to 7%, in contrast to todays 2.63%.

With a 7% interest rate the U.S. would have difficulties servicing its debt, as 30-50% of revenues would be required, according to some estimations. This is very close to the situation Japan is in today, but with one crucial difference – debt service levels as a percentage of tax revenues in Japan are already at 50% with interest rates at all times lows – an even more explosive situation.

So if the Fed were to start extracting capital from the system interest rates would inevitably go up. Not only because of the Fed selling bonds – there would furthermore be a confidence crisis of significant proportions as everyone would scramble to get out of the market at the same time.

The recent spike in the 10 year Treasury yield shows how quickly things can change. The Fed only came out discussing ending QE sometime in 2014 and as a result rates made an unusually large move – as illustrated by the graph below.

stimulus_gold_bullion

Source: Yahoo Finance

Even if this should prove to be temporary it’s still an indication on what’s to come. This is not a situation that the Fed can handle since they ultimately don’t control long term interest rates.

Sure the Fed can continue suppressing interest rates, which is what they most likely will be doing, since the only other option is to default and restructure debt. Even so, in the long run it will be impossible to keep interest rates this low as it will lead to unprecedented inflation.

We’re already heading into the danger zone since asset price inflation is increasing – albeit not yet on a broad scale. So far, primarily equities and real estate have seen an influx of capital.

Gold and silver bullion are already closing in on levels where simple supply-demand dynamics point to rising prices. The fundamentals also still apply. We’ve yet to see the parabolic moves of the last gold and silver bull market of the 1970’s. But with excess liquidity floating out into the system on a broad scale and a potential unraveling in the bond markets the prerequisites for gold and silver to reach all time highs look very likely.

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Please click below to access the best bullion distributors

BullionStar.com Singapore – cheapest bullion

BullionStar.com Singapore

Singapore cheapest bullion: https://www.bullionstar.com/ and BullionStar review

Liberty Silver Estonia – cheapest bullion

Liberty Silver Estonia

Estonia cheapest bullion: https://www.libertysilver.ee/en/ and Liberty Silver Estonia review

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Gold Miners And Gold Production Cost

This post covers a topic much talked about right now – the gold production cost for mining companies.

Just like we discussed a while back in the article on gold production break even level miners are having an increasingly difficult time staying profitable and generating free cash flow at current gold prices.

Recently, ZeroHedge wrote about this. According to Citibank,  “a combination of rising unit costs (15% yoy), sustained high capital budgets and a falling gold price have resulted in a fast contraction in margins – so much that no gold company under our coverage will generate Free Cash Flow at spot gold.”

See graph below for illustration on how much of the mining space is under water today.

gold-production-break-even

Read the full article here: http://www.zerohedge.com/news/2013-07-07/citi-no-gold-company-will-generate-free-cash-flow-current-gold-prices

This bodes well for gold prices as a diminished supply should lead to higher prices going forward even if demand should stay constant. As I’ve covered earlier, there are many reasons for why demand should increase going forward though.

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Please click below to access the best bullion distributors

BullionStar.com Singapore – cheapest bullion

BullionStar.com Singapore

Singapore cheapest bullion: https://www.bullionstar.com/ and BullionStar review

Liberty Silver Estonia – cheapest bullion

Liberty Silver Estonia

Estonia cheapest bullion: https://www.libertysilver.ee/en/ and Liberty Silver Estonia review

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Gold And Silver Bullion On Sale

As expected gold and silver prices broke through support levels last week – and now we have gold and silver bullion on sale. I believe that the coming months will offer an excellent opportunity to add to precious metals holdings. Probably the best opportunity we’ll see in the current leg of this bull market.

It was pretty evident that something like this was going to happen. The rally we saw a while back definitely had the characteristics of a temporary move. More about my view at the time here.

The graphs below show the most recent spot price performance for both gold…

gold-bullion-on-sale

and silver…

silver-bullion-on-sale

Prices are trending downwards and have been for some time. Technical levels have not held their supports plus we have the general risk on attitude of the markets. It amuses me to see the discussion on the Fed tapering their stimulus program. For some reason actual implementation…or acting on these talks….never seems to materialise. There is no way for the Fed to stop he stimulus and unwind their huge positions without causing serious volatility in the markets. We are already seeing evidence of this today – which I will cover in a coming blog post.

So what’s in store for us next? I expect further price declines in gold and silver prices as I’ve said for some time.

How should you play the markets given a scenario of further price declines? Continue buying silver bullion and gold bullion all the way down to where we see a turnaround. Expect increased premiums and supply constraints along the way. That’s actually the premiere reason for why you won’t be able to fully exploit a market bottom….even if you should be so lucky to time it – which we all know is very difficult.

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Please click below to access the best bullion distributors

BullionStar.com Singapore – cheapest bullion

BullionStar.com Singapore

Singapore cheapest bullion: https://www.bullionstar.com/ and BullionStar review

Liberty Silver Estonia – cheapest bullion

Liberty Silver Estonia

Estonia cheapest bullion: https://www.libertysilver.ee/en/ and Liberty Silver Estonia review

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