South Africa : Market's Roller Coaster Sets Off Krugerrand Buying Spree

[Maritz]

South Africa : Market's Roller Coaster Sets Off Krugerrand Buying Spree

FNB CEO Michael Jordaan, whose bank offers safekeeping of the coins through Rand Refinery, said Wednesday's sales were "unbelievable" - 10 times more than is usually seen in a day.

FNB achieved its average monthly sales volume in a day. "One client bought 300 ounces," he tweeted.

On Thursday, trade was three times the daily average. Clients bought just over R15-million worth of Krugerrands in those two days.

FNB Share Investing CEO Gusta Binikos said FNB sold more than 5000 ounces of gold in five months. She said the rand value of gold coins rose by up to 20% in the past five months.

Since FNB Share Investing made Krugerrands available on its online banking platform in February, clients had bought more than R75-million in Krugerrands.

Nationalising the gold mines without compensation will devastate shareholders, but not the investors holding Krugerrands.

If you had invested R10000 in Krugerrands in 1970, today they would be worth about R4.7-million - an annual return of 15%.

http://www.africancrisis.co.za/Article.php?ID=99648&

The truth is that metal will always be worth something ... silver is a better bet now, imo 

[Albert]

I don't think the economic crisis will be over anytime soon. And i don't think the gold price will stabilise until it is $65,000 per ounce. This is just because of americas massive debt, an economy of paper. People everywhere  (from china-to India) will move into gold when they see the numbers in their bank accounts are worthless.
I even think there is a stealth economic war now ongoing now between china and the u.s. The silly thing is that Creators in order to advocate what is best for the White Race must advocate the collapse of the us paper system and the destruction of the usa.
China backing the Yuan in gold would be the first blow against jewish global power.


http://www.mining.com/china-will-back-the-yuan-with-gold-leeb-93256/