can one buy gold in pesos legally?

[Canick]

With all the daily changes going on in Argentina, I'm unsure of the latest rules and regs.

Is it possible to buy gold in pesos 'en blanco' now a days?

I read somewhere each person was restricted to a per CUIL (or is it CUIT) holding of 5 kilos, (quite a large sum), but cant confirm any info.

I'm not looking for THAT much, lol, just to know what is possible.

Sorry if i have missed a thread on this in the past, but wanted to hear from anyone who had done this recently and about their experience.

If you think gold is a bad investment, please save any opinions you may have for another time.

Thank you for any help,

n

 

[Roxana]

Banco Ciudad de Buenos Aires sells gold, here is the link with the requirements:

http://www.bancociudad.com.ar/personas/oro-1

 

[PhilipDT]

The price of that gold divided by golds free market price is 6.06 which is not 4.6 but better than any cueva will give you.

 

[nikad]

You can buy Argentine gold, the one that banco Ciudad sells and buys but not the Swiss or imported one as it is traded in dollars. Local and imported gold as far as I understand have different grade of purity.

 

[AngelinBA]

My husband went to Banco Ciudad yesterday to purchase gold and said that they are running out! Don't know if that is a temporary thing, but at the moment they have very few ingots left (is that the right word??).

 

[Canick]

My husband went to Banco Ciudad yesterday to purchase gold and said that they are running out! Don't know if that is a temporary thing, but at the moment they have very few ingots left (is that the right word??).

this is from a google search, but dated 2011 and already there was a run on gold, so I would imagine if you can buy gold in pesos, it would be a cheap investment still today...but i can't seem to find anything post 2012 restrictions...

"el Banco Ciudad y el Banco Piano, dos de los principales vendedores del mercado, vieron ampliarse las colas en sus sucursales por el arribo de pequeños inversores en búsqueda de monedas o lingotes chicos certificados. “De vender uno o dos kilos, ahora vendemos veinte kilos por día”, reveló ayer el presidente del Ciudad, Federico Sturzenegger, en declaraciones radiales."

google translate:

"Banco Ciudad and Banco Piano, two major sellers in the market, saw extended queues at its branches with the arrival of small investors in search of coins or bullion small certificates. "(we used to) sell one or two kilos, now we sell twenty kilos per day," the president of Banco Ciudad, Federico Sturzenegger, said on the radio.

original spanish link:

http://fortunaweb.com.ar/2011-08-21-63233-mas-demanda-de-inmuebles-para-refugiarse-de-la-crisis/

 

[Towncryr]

If you are not talking about large amounts you might also consider silver of some sort. Many experts in the metals area consider silver to be the better performer in the future due to it's myriad of industrial usages with more being developed everyday. That coupled with the fact that most large silver deposits, Comstock Load, etc., have long been exploited. These days most silver comes as a by product of other metals mining.

Another option is "select" mid tier and jr mining stocks. There are many pitfalls in this area but some unbelievable returns are possible if you hit the right one(s). During the Great Depression the single biggest performer was Homestead Mining, a company still operating today. A share of their stock went from low 30's to 650 or so.

Couple of options....

 

[Thereandbackagain]

Past year I did some extensive research on this:
- Yes, officially you can with the needed documentation.
- The Gold here is relatively impure. You might have problems selling it elsewhere. I recommend buying it in the "north".

Banco Superville has (or had?) some interested Info on buying gold on their site. Just Bing/Google it. They also tell you the purity.

 

[PhilipDT]

The banco de la ciudad website said that the gold they sold was 99.9% pure.

 

[TexanPaul]

Has anyone tried Xoom to transfer money into Argentina? I'd read on here that it worked for some people--just seeing if it's blocked now or not. I have a bank account here in Argentina.

Gracias for any input.