We need buyers, not a refinery account
That is a very good statement. It might even be correct in many cases.
I have had refinery account with such a refinery. It is really frustrating. You think you have solved all problems, but no. I need to sell the gold in order to pay for it.
It is something that is called a “Catch 22” after the book with the same name written by Joseph Heller.
I solved that with the refinery I am cooperating with. They have a number of buyers lined up that they have done business with since years. The condition these buyers have is that the gold is in the refinery account with the refinery.
The gold in the refinery account is actually just a number. In the same way that in any bank. The money you deposit is not handled separately and placed in a box so when you withdraw your money the bank takes the box and give you some of your money back.
The number is a weight of gold you have in the account. As any number it can be transferred to another account. It can actually be sent as a number to LBMA and thus sold on LBMA as a number, a weight of gold.
In this site the present price on gold per onze in USD is displayed. This is the price you will get when you are selling your gold.
There will be deductions of different fees. The fees of the refinery and my fee.
The fees of the refinery is stated in the cooperation agreement as well as my fee.
There could be another reason to have a buyer of the gold before you are sending it abroad.
If you do not think the world market for gold is a good place to sell gold there are buyers that live on your scare or need of financing.
For this purpose we cooperate with the bank. There you will have a buyer that any of your bank contacts should be satisfied with. You have to satisfy your bank on the other hand in order to get the funds you might be looking for.
Now there could be a third reason to have a buyer to deal with. You need a visa to go to either Schengen or UAE. For UAE that is no problem as there you do not need an invitation either. You need a contact to arrange the visas.
Actually you do not NEED a buyer. You maybe want a buyer to haggle with and to get money from. That is not my offer to gold sellers. My offer is to get as much paid as possible for the gold if you have gold.
