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DarthMaul09 (29.72)

Are Tungsten-filled Gold bars good or bad for the Gold Market?

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September 23, 2012 – Comments (6) | RELATED TICKERS: CEF , GLD , SLV

Although the immediate effect may be the next trigger for the bullion banks’ drive down of the precious metals’ prices in the upcoming end of the month sell-off, the long-term effect may be quite positive for the real precious metals market, since investors may begin to realize that the amount of real metals are likely to be significantly smaller than reported.

The value of GLD and SLV may also begin to be questioned by even the mainstream media.

The winners may be the dealers of small denominated gold coins and rounds, such as the Canadian Maple leaf and Perth Mint rounds, since these coins are probably too small to make a profit counterfeiting.

Adding conspiracy to the mix, wouldn’t it be profitable for the big bullion banks to loan out real gold to quality counterfeiters and then replacing the fake bars back in storage, the additional gold would then be helpful to support their short position in manipulating the markets.  For those who believe that banks would not risk doing something this illegal, remember MF Global.

Next week may be a good time to load up on small denominated gold rounds.

Gold Counterfeiting Goes Viral: 10 Tungsten-Filled Gold Bars Are Discovered In Manhattan

http://www.zerohedge.com/news/2012-09-23/gold-counterfeiting-goes-viral-10-tungsten-filled-gold-bars-are-discovered-manhattan 

6 Comments – Post Your Own

#1) On September 23, 2012 at 10:59 PM, MoneyWorksforMe (< 20) wrote:

Great points. I was thinking along the same lines when I first saw this article, earlier this afternoon and was very surprised to see no comments or conclusions pointing in this direction.

I think this development is price positive/supportive more than anything else while many have been suggesting the opposite.

 

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#2) On September 24, 2012 at 2:01 AM, DarthMaul09 (29.72) wrote:

The Kitco site showed an early $15 sell off in gold before it began to recover.  Silver had a more obvious take down before it made its way back to $34.

The COT report suggests that the bullion banks have a lot invested in seeing the metals pull back this week.  Since they generally get what they want, I'm guessing that a few raids are coming this week to drive out the smaller weak longs.  The Hedge funds are generally long going into this week, so they may try to buy the dips to avoid a price collapse and potentially a bigger loss.

I think I would start to buy Canadian gold maple leafs if gold goes below $1700.

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#3) On September 24, 2012 at 1:38 PM, ikkyu2 (99.32) wrote:

The density of tungsten is nearly identical to that of gold: W is 19.25 g/cc, whereas Au is 19.3/cc.  I guess you have to open your bar to make sure it isn't filled with tungsten.

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#4) On September 24, 2012 at 7:37 PM, chk999 (99.97) wrote:

Ultrasound should work fine, tungsten is much stiffer than gold, so it should show up differently.

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#5) On September 24, 2012 at 10:08 PM, DarthMaul09 (29.72) wrote:

OK, so now I'm concerned.

 

Get Your Fake Tungsten-Filled Gold Coins Here

 

Submitted by Tyler Durden on 09/24/2012 18:34 -0400

 

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#6) On October 15, 2012 at 11:10 PM, DarthMaul09 (29.72) wrote:


The Aboveground Gold Stock: Its Importance and Its Size
by James Turk
October, 2012 http://www.goldmoney.com/goldmoney-foundation/essays/the-aboveground-gold-stock?gmrefcode=gata

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