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Don't Believe the Gold Bears' Hype

Posted on September 05, 2008

Earlier this month I drove down to Brussels, Belgium, to buy some Krugerrands. I could have bought them in my home country, The Netherlands, but I found the premiums at local dealers outrageous. In Brussels, I found a dealer that only asked a couple of euros above the spot price, which came down to a 1.5% premium. At that time, it was already surprising that at every local dealer, premiums were over 5% for 1-oz Krugerrands. And taking a day off from work, spending a full day traveling to Brussels, a distance of 220kms (about 135 miles) and EUR 60, on fuel was certainly worth the difference. No...

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gold , spot price