I’m representing buyers in Germany, Czech and Dubai, and I am looking for additional sources who can supply. As is see you have your options would this be possible with you? CIF basis, MT799 to refinery etc etc.
We get this question all the time and the answer is a simple no. No one will ever ship you gold CIF unless you have invested in the mining operation…. and I mean no one. Why?
CIF stands for Cost, Insurance and Freight. Basically you are asking someone with gold (a real tangible product) to send you gold, pay the shipping fee and the insurance based upon an MT799 which is nothing more than a Proof of Funds. That is like me saying, let me send you my bank statement, and you send me thousands, hundreds, or millions of dollars worth of gold, and we promise to pay you! If the gold was yours, would you do that?
The fact is that anyone that has gold can CIF it to any refinery on earth, so why would they CIF it to you / your refinery? They won’t.
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