by Dug_The_Rotten_Dog
Well after another week of networking talking to people getting introduced to people in the bullion business, I’ve finally found a closer to the top level buyer.
They are the buyer that goes around to the jewelry & Gold buy stores, they pay 94% of international real time spot price for Gold.
But once again they have very little interest in Silver, $12 for kilo buy price.
The way they explained it to me, they buy Gold from the refineries that are allowed to process from the legal mines here in Venezuela and it all gets shipped to Turkey, that is allegedly the reason for the 94% rate is handling and shipping to get it to Turkey.
Honestly way too many holes in the story to make sense when I started questioning them, but it’s a hell of a lot better than $50 to $54 a gram fixed price.
He said Silver is too expensive to ship to Turkey where he aledges is where everything is getting sold, once again way too many holes in his story to make sense of it.
The rest of the world buys at spot and pay for their own shipping to their destination in my experience.
Give me time and I’ll meet his buyer, slowly climbing the bullion ladder here in Venezuela