Thursday, July 18, 2013
Argentina Beats Vietnam for Gold Premium
At the time my friend decided to buy gold, the price was about
US$1,700. If we include the premium, it cost him US$1,800 at the
6-to-1 exchange rate. In black market terms, this fiasco cost him
10,800 pesos per ounce. If he was allowed to purchase gold legally, it
would have only cost 8,100 pesos. That’s a premium of 25% or US$600!
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