Physical Gold and Silver vs. Paper Gold and Silver: How Much Markup Are You Willing to Pay?

(Before It's News)

by Mike “Mish” Shedlock
MISH’S Global Economic Trend Analysis

I am a gold bull, but I am also concerned about seriously misleading hype regarding alleged shortages.

For example, a friend recently emailed an article that contained this claim: Gold Selling for at least 50% over Spot in Asia-Rob Kirby.

According to Rob Kirby “In the Asian market, if you could find physical bullion as cheap as spot plus 50%, you’d be doing really, really, really well and you’d be hard pressed to find serious tonnage at that price in Asia.”

Kirby, who specializes in acquiring large amounts of physical gold for clients, sees physical gold bullion selling for at least “50%” over spot, which would put the price of gold in Asia at least $1,800 per ounce. Kirby also says, “Prices being paid right now in Asia make a mockery of the prices being shown in COMEX and the LBMA (London Bullion Market Association). These paper markets have divorced themselves from the laws of economics.

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