More GLOBAL INVESTMENT support for Au bullion: Argentina

http://www.bloomberg.com/news/2013-...ll-overrun-by-inflation-argentina-credit.html
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Argentines are buying more gold than ever to protect their savings from the Western Hemisphere’s fastest inflation reported Bloomberg. Banco de la Ciudad de Buenos Aires, Argentina’s only bank offering gold bullion coins and bars to investors and savers is negotiating with mining companies to purchase gold direct as surging demand depletes the scrap supply. The bank began marketing gold to clients after Argentina tightened currency controls in October 2011, selling 280 kilos in year one for 102.6 million pesos ($20 million).

Argentines are utilizing gold to hedge their savings as economists forecast the peso will lose more value than any currency in the world, and President Cristina Fernandez de Kirchner forbids dollar purchases.

The nation’s inflation rate of 26% is also eroding Argentina’s peso-denominated bonds to fall 5.5% ytd. “I’m buying gold every chance I get,” Guillermo Acosta, a 27-year-old security guard, said inside a branch of Banco Ciudad in downtown Buenos Aires. “With this inflation, I feel like my savings will evaporate if I keep them in pesos.”
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This bank is one of the top 10 banks in that country (VERY VERY SMALL, globally.) Admittedly, Argentine retail demand for Gold is NOT huge... but this is the sort of peculiar thing that bullionists ought to notice. First, in one little country, then another little country, afterwards another, then another, and so on?

25% annualized inflation draws how much MORE Gold interest, from Argentine retail investors now? So what percentage of AMERICANS would (likewise) buy Gold if they saw that erosion in their savings???

IMO this retail trend is long-term BULLISH for Gold-horders, if/as it continues & spreads.