Where does all the gold that we purchase end up?

There are some interesting things happening in the precious metal world. People often ask us at Manhattan Gold & Silver “where does all this gold go?”

Believe it or not, a good majority right now ends up leaving the US and goes directly to China. It’s incredible the amount of gold China goes through. Physical gold in the Comex depositories has been getting lower and lower this year. In China, there is a big market for kilo bars (32.15ozt). More and more people want to take physical possession of their precious metals.

This has not been the case in the Unites States for a long time, but the US views on physical gold are slowly changing. People often fear buying gold ETFs and wonder whether there really is physical gold backed by it. The physical inventories of the Comex are slowly being liquidated. It raises a good point whether there will be a squeeze on physical precious metals coming.

One of the items we’re offering clients now is our own sealed and certified 1ozt gold bars. If you haven’t seen them, take a look on our website or come in to our storefront to check them out. Since there is quite a bit of demand on the retail side, we feel they should be offered to clients. Reselling our bullion bars in your own store is a great way to get more foot traffic and customers. Please feel free to contact us for more details.

Manhattan Gold & Silver Update

We’re currently open from 9:30am – 4:00pm Monday-Friday.  Customers are now allowed to enter the exchange with a mask and witness melts as usual.

If you have any questions you can still contact us at 212-398-1454 and sign up for our newsletter for further announcements.

Most importantly, please stay safe! 

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