Has the local price of physical gold in Cyprus gone up?

[atrchi]

Is it trading at a premium to global markets? How Much?

Just wondering.

[MachineGhost]

http://goldpricenetwork.com/goldprice/cyprus/

[atrchi]

http://goldpricenetwork.com/goldprice/cyprus/

Thanks for trying, but...

That site is just a machine-generated content farm.

They don't even try to cover it up:

"Gold price in Cyprus in Euro (EUR) is being updated once every 15 minutes, based on the latest gold price from the NYSE COMEX."

The local price of physical gold for delivery in Cyprus might bear little resemblance right now to the exchange quoted price of a NYSE COMEX Futures Contract for delivery at a Licensed Depository within 150 miles of New York City.

I would like to know how much the spread is. Mostly, because I'm curious about what happens during extreme economic events.

[kapoios]

I think with the unsecured bank accounts partially confiscated and partially frozen (at least until September) and with secured deposit withdrawals rationed at 300 euros per day there aren’t much cash available to move the local gold market. If you want to know what is happening at the gold price in Greece where bank accounts don’t have any restrictions I can tell you that locally recognizable gold sovereigns carry fluctuating premium depending on how imminent a tax raid on bank accounts is perceived. The local central bank sells sovereigns at a constant 15% premium to spot gold price and non authorized dealers have fluctuating premiums btwn 3% - 10% as I said earlier. You can find less recognizable bullion (ie  gold francs etc) at or even bellow spot price.

So in conclusion in future situations I see the premium on local price of gold depending first on how mobile are your cash assets and how safe you perceive them to be from taxing at a bank account home or abroad.