The cost of 100 grams of gold in Argentina 36,646 pesos. In New York, that same amount for a troy ounce sold for $5,126.00 | |
Anonymous Coward User ID: 36557264 Venezuela 03/20/2013 03:29 PM Report Abusive Post Report Copyright Violation | Re: The cost of 100 grams of gold in Argentina 36,646 pesos. In New York, that same amount for a troy ounce sold for $5,126.00 WoW !!! That physical price is a headbanger ! Quoting: Anonymous Coward 36541708 With Argentina printing pesos to finance itself, the growth of pesos in the economy has rose 38% in the past year, leading analysts to predict that the currency will depreciate 12.9% through year-end, the highest of currencies tracked by Bloomberg. Banco Ciudad is the only bank left that trades in gold after Fernandez banned the purchase of certified 99.99% pure gold for savings in July. The bank sells it at 99.96% purity, according to Carlos Leiza, who oversees the lender’s gold trading. There is a 35% gap in the prices to buy and sell physical gold at Banco Ciudad, while there’s no premium to sell the country’s benchmark 2017 dollar bond in the local market, according to the Buenos Aires-based Open Electronic Market, known as MAE. Gold sold by Banco Ciudad also isn’t recognized internationally, making it more difficult to determine its value, he said. The cost of 100 grams of gold in Argentina as of last week was 36,646 pesos. In New York, the same amount based on the benchmark troy ounce (31 grams) sold for about $5,126. The bank multiplies that price by 0.95 to account for the lower quality of the gold to get a dollar price of $4,870. [link to goldsilver.com] its the currency regulations,same thing is here in Venezuela different prices but only few can benefit....!!! |
Anonymous Coward User ID: 12680882 United States 03/20/2013 03:31 PM Report Abusive Post Report Copyright Violation | |