I can't see this appealling to serious traders. In my country, as well as in the USA, this would be a problem in terms of the legislated requirement to report large cash-transaction. Also, the article doesn't say what premium the buyer pays, compared to the market "spot" price.
I honestly don't see the appeal. I get upset when the vending machine doesn't spit out my twix for $0.75, I can't imagine how upset I would be if my 1 toz gold bar didn't drop.
LOL, these things would never work in Toronto. Gold is pretty cut-throat business right now. Just recently a murder plot against a gold buyer was foiled.
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