Paper markets are being exposed for what they are. Gold premiums for physical in Japan are nearing $500 per ounce. So how do we tell what's going on? Is it W. Davis charts, ABC or what they'll pay? Since the paper game is false and deceptive, are we in a metals anarchy? And for how long?
I see. But that was April 25, a month ago. Also pure gold coins (maple leaf etc) are more popular here as far as I can tell. In coin catalogs and major shops silver eagles etc. are $60. It would be understandably difficult to find a normal price when just visiting Japan without knowing the language.
What is your experience of physical sales? Is there a lot of physical available? Is the London fix the measure?
I am a small timer. But yes physical is available. Last year I could buy it for under spot, but not now. Wait while I fetch my newspaper for details.
Price of gold (per gram, TOCOM - Tokyo Commodity Exchange) from major newspaper: 4555 yen That is 141,674 yen per troy ounce. I can buy one troy oz. gold coins at the LCS for a 12% premium (including 5% tax) So that would be 158,675 yen ($1565 USD) $175 premium.
Once every two months: http://www.tocom.or.jp/guide/youkou/gold/index.html Wide selection: http://www.tocom.or.jp/guide/brand/index.html Minimum/increment of 1 kg. "Mini" 100g contract is a "Cash-settled Futures Transaction."