Must be a terrible feeling to short at 1450, 1460,1470, 1480, 1500 and its climbing higher.. short more at 1510? Cover at 1650?
Its easy to play gold in a world of more and more negative interests..
big gold buying in Germany before the anonymous border to buy precious metals going from 10000 to 2000€ by 2020.
https://amp.welt.de/wirtschaft/arti...e-Schlangen-vor-den-Gold-Handelshaeusern.html„
From January, the threshold for anonymous purchase of precious metals with cash will drop from 10,000 to 2,000 euros. Shortly before the innovation takes effect, there are queues in front of the trading houses. The high demand drives up the premium.
Long lines are actually nothing special in the run-up to Christmas. Last-minute gift shoppers bustle in the shopping streets and shopping centers just before Christmas Eve, as do those who work through their supermarket shopping lists for the festive season.
On Monday, however, a photo went around on the short message service Twitter, which apparently shows a line of people several tens of meters long in front of the Cologne branch of the Degussa precious metal trading company. It was posted by Marc Friedrich, co-author of the book “The Greatest Crash Ever”.
In the tweet he writes: “Queue @degussa_gold in Cologne. Trust in the #Euro and our #Politics must be enormous. ”With the other hashtags, he alludes to a connection between the high demand and the lowering of the cash cap for anonymous precious metal purchases, which will apply from January.
In mid-November, the German parliament decided on a package of measures to combat money laundering: the limit for the anonymous purchase of precious metals with cash is to be reduced from 10,000 euros to 2,000 euros. The law passed the Federal Council on November 29 and will enter into force on January 1, 2020.
This is so-called gold plating - the Federal Government is taking the measure much further than the European Union requires on the occasion of the fourth EU Money Laundering Directive. Only two years ago the general cash ceiling was reduced from 15,000 euros to 10,000 euros.
In addition, figures from 2017 show that money laundering is a marginal phenomenon in gold trading. In 2017, only 64 out of 59,845 suspicious transaction reports related to precious metals, according to a response from the Bundestag's scientific service to a request from the FDP member of the Bundestag, Frank Schäffler.
