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Australia's first bullion exchange set to open

derrybderryb Posts: 36,793 ✭✭✭✭✭
in Precious Metals
MELBOURNE (Market Watch) -- Australia's first physical bullion exchange offering an over-the-counter spot market for gold, silver and platinum is set to launch early next month.

The Australian Bullion Exchange will make direct bullion ownership available to retail and institutional investors from Oct. 4, the new exchange said Wednesday in a statement. Bullion will be bought and sold on the ABX through listed brokers.

Australia is the world's second-largest producer of gold after China.

"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey

Comments

  • CaptHenwayCaptHenway Posts: 32,116 ✭✭✭✭✭
    Nobody sold PM's retail in Australia before????

    image
    Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
  • MsMorrisineMsMorrisine Posts: 33,019 ✭✭✭✭✭
    I was thinking the same thing.

    and spot won't follow their lead, so that idea is out of the question.


    Current maintainer of Stone's Master List of Favorite Websites // My BST transactions
  • derrybderryb Posts: 36,793 ✭✭✭✭✭
    will deal in large quantities. Increases demand.

    "Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey

  • SpoolySpooly Posts: 2,108 ✭✭✭
    Australian Bullion Exchange


    image
    Si vis pacem, para bellum

    In God We Trust.... all others pay in Gold and Silver!
  • OzzyAndyOzzyAndy Posts: 344
    Sounds interesting but yes, I'd wonder how it differs from the Perth Mint or ebay.
    Still thinking of what to put in my signature...
  • BigEBigE Posts: 6,949 ✭✭✭
    I get the feeling this is a large exchange, like Globex or the CME. You need a broker to play-------------------BigE
    I'm glad I am a Tree
  • derrybderryb Posts: 36,793 ✭✭✭✭✭
    With this and the new Asian exchange, CRIMEX (I mean COMEX) is finally getting some real competition.

    "Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey

  • BigEBigE Posts: 6,949 ✭✭✭


    << <i>With this and the new Asian exchange, CRIMEX (I mean COMEX) is finally getting some real competition. >>



    Agreed. The Australian exchange is placing a lot of emphasis on allocated and segregated bullion and storage for individual investors-hinting that others might not have anything to store at allimage-----BigE
    I'm glad I am a Tree
  • MsMorrisineMsMorrisine Posts: 33,019 ✭✭✭✭✭


    << <i>

    << <i>With this and the new Asian exchange, CRIMEX (I mean COMEX) is finally getting some real competition. >>



    Agreed. The Australian exchange is placing a lot of emphasis on allocated and segregated bullion and storage for individual investors-hinting that others might not have anything to store at allimage-----BigE >>




    now that makes it more interesting.


    however, many still suspect anyone no matter who that claims to be "holding it for them."

    Current maintainer of Stone's Master List of Favorite Websites // My BST transactions
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