Buying and selling gold?

[BrilloPad]

Brillo,


'I believe gold in Sterling terms has not done so well recenty.'


at 650gbp an ounce on Friday I'd say it's doing very well indeed

Milan.

Yeah Gold in terms of Sitrling has gone up about 40% in the last 12 months.

Not as well as it has in dollar terms though.

Of course when the pound rallies.....

[Gonzo]

Not as well as it has in dollar terms though.

Of course when the pound rallies.....

Your grandchildren will be toasting their ancestor's foresight in leaving them a bequest which appreciates so much.

[milanbenes]

sorry Brillo, I think you are not understanding how this stuff works

it's not if the pound rallies, it's rather,

you either need au to rise in general

or

you need the pound to fall


so please, forget about the pound rallying, if you want the au price in pounds
to rise then you need the pound to fall


furthermore, you will know that earlier in 2008 au was touching 1000 usd, this was because the usd was weak, as you will see now that the usd has strengthened the usd au price has fallen


to conclude, if you are in pounds and thinking of betting on au, then you need

either

pound to fall

or

au to rise in general

or both

but you do not want the pound to rally


here endeth today's lesson


all the best with your investments

Milan.

[Moscow Mule]

You forgot to add the 'golden' rule:

don't tell anyone (IRL) you bought it / hold it either.

In which case you need to buy in lumps of £5k or less and less than £10k in the year.

[ratewhore]

To the OP, I used Bullionvault to store my CT a couple of years back. Made 10% over the 9 months it was held and the Bullionvault service was very good. The buying and selling process is easy so I can recommend them...