Archive for February, 2012

China to Install Over 2,000 ‘Buy Gold Bullion’ ATMs

February 29th, 2012 No comments

Are you more likely than ever to buy gold? Ever since Donald Trump and his Trump Organisation accepted a commercial lease payment in gold bullion in 2011, trading and transacting in gold is slowly beginning to determine the way finances operate globally – not only at a business level, but also at a consumer level. It seems people are keener than ever to buy gold.

Such is the case in China, which recently installed and activated its first ATM in Beijing that dispenses not cash, but allows users to buy gold bullion. A further 2,000 of the buy gold ATMs are set to be installed around the country over the next two years by the Beijing Agricultural Commercial Bank, in association with an independent gold trading company. Consumers can exchange physical cash or use bank cards to buy gold bullion for their personal investment needs and to protect themselves against inflation.

This makes China the first country in Asia to introduce the buy gold bullion ATMs into their economy, following in the footsteps of Italy, Germany, the United States and the United Arab Emirates. With its recent, 2011 purchase of 200 metric tons of gold, China is currently considered the largest economy in Asia to buy gold bullion, approximately on par with India, and both are clearly paving the way in the Asia for a surging trend in gold bullion trading.

According to Asia Times Online, Operations Manager Li Weizhou of Gongmei Gold Trading anticipates the ATMs to be popular in China and it is expected that more will be installed in China’s major cities with locations likely to include banks, private clubs and landmark locations. The withdrawal limit on the ATM is set at 5.5 pounds, which is worth approximately $156,000 and market purchase prices are updated every 10 minutes. Asia Times Online also claims that consumer demand for gold in China has jumped 25% from 2010 to 2011, making gold a highly sought after commodity and a peak time for those who wish to buy gold and expand their portfolios.

This is a ground-breaking step forward for China, which has joined a bid, in association with Russia and the United Nations, to develop a single, global currency based on a gold standard, in order to help protect economies from fluctuating and declining commodities markets.

Will we be queuing up to buy gold? And are we ready to buy gold from an ATM?

World Food Association Selling Gold Bullion

February 15th, 2012 No comments

If you think that the opportunity to buy gold isn’t becoming an increasingly important focus of the investment and trading world, think again. The World Food Association, a poster organisation for agribusiness, gold investment and for feeding the world “one nation at a time”, recently announced through PR Web that they are ready to sell off a huge amount of gold bullion. Could it be the time to buy gold? The facts:

  • The company has engaged in trading gold bullion for years, in exchange for future mining rights. Having created Agrigolden Ltd., the World Food Association has been excavating gold dust at various Alluvial Gold mine sites in the Kibi-Winneba region of West Africa.
  • The company intends to sell off fifty tons of gold to interested investors and other members of the general public who desire to buy gold – a sizeable step forward in the bullion industry. In a PR web release, Henry Ford, the Director of Agrigolden Ltd. and PR Manager for the World Food Association, expressed his appreciation for support and contributions, stating that they “show the growing concern for those that are less fortunate.”
  • According to the association’s website, the gold purity ranges from 92% to 95%, the equivalent of 22 to 23 carats and will be sold at the 2nd fixing in USD for the price of gold in London, as listed on The Bullion Desk on the day of sale.
  • Who will buy gold? With the declining production of gold and its continuing rise in value, many investors are keen to buy gold, though no fitting offers had been put forward at the time of writing. The bullion is not expected to last long, with Europe, China and Russia perhaps more likely to buy gold since their currencies are considerably weakening.
  • With the profits, Agrigolden intends to modernise their purchased mines in Africa, elevating local prosperity and improving quality of life for the villagers and for those working in the mines.
  • Of course, they’ll also be upping their own cash flow and establishing strong relationships with experienced bullion investors who are keen to buy gold on a long term basis. Market trends suggest as more individuals and entities look to buy gold, prices may be set to increase significantly in 2012, despite the current debt crisis in Europe and other economic fluctuations around the globe.
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