27
July
New law boosts gold bar sale in South Africa
27 July 2009 Commodity Online
With the rules related to the sale of gold bars changing in South Africa, the country is witnessing a surge in bullion demand from investors.
Following a change in the law, people in South Africa can now buy gold bars for the first time in almost a century.
South Africans were for a long time unable to share in the country’s gold wealth. The only possibility was to invest in gold companies or in Krugerrands, or to buy Mandela coins or jewellery.
Large fines or even imprisonment could be imposed on individuals who violated the law. As a result, South Africans could not hide gold under their pillows or in a safe for the lean years, a common practice in Europe and India.
http://www.commodityonline.com/news/New-law-boosts-gold-bar-sale-in-South-Africa-19805-3-1.html
