Breaking: Japan’s #1 Gold Dealer Restricts Physical, Moves to Cash SettlementTheir Gold is Spoken ForTanaka Restricts Gold Bar DeliveryEither they are having a hard time getting it, or their supply is increasingly spoken for by a stealth buyer. Given their systemic impirtance and global reach, we’re going with a stealth buyer. Official Reason: Cost Management and Logistical StreamliningThis month, Tanaka Precious Metals Co., Ltd., Japan’s number one bullion dealer and refiner¹, (owner of Metalor, subsidiaries in China, and operator of Japan’s largest metals refinery) issued a notice to its clients outlining a series of changes to its “General Account” services. Chief among these was a restriction on physical gold withdrawals. |
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