Buying and selling gold?

[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...

[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.

[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.

[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.

[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.....

[bobhope]

You forgot to add the 'golden' rule:

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

[JoJoGabor]

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

[milanbenes]

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.

[BrilloPad]

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

A friend of mine runs a website for a chain of jewellers : adding the capacity to buy physical gold online this year.

In the meantime, if anyone wants to buy physical gold then please PM me. My friend will do you a good deal.

BP

[milanbenes]

expat don't beleive everything they say

read more into the subject before making your conclusion

on the international scale, krugers are much easier to dispose of

Milan.

[JamieMoles]

For some reason I thought this was going to be a Warcraft thread....

[expat]

sovs no krugers yes

Milan.

Don't think so: Krugerrands attract CGT, Sovereigns don't.

Also, premiums can be higher (esp this year, arabs have bought all the rands), and disposal less flexible. Chard recommend against Krugerrands:

Lemmings - Don't Be One
We can supply better coins for less money.

[milanbenes]

sovs no krugers yes

Milan.

[expat]

There are I'd say 3 levels of investing in gold, depending on what you want it to do:

1. buy shares in gold miners, or a gold fund. That gets you into gold but does not protect against e.g. the government, and it is an investment rather than physical gold, so the price will vary depending on investor demand rather than gold price directly.

2. buy physical gold but have someone like BullionVault hold it for you. This does give you real gold, but not in your own mitts. When the govt calls in gold, yours is gone.

3. buy physical gold and keep it yourself. E.g. sovereigns, easily exchangeable and not subject to VAT or CGT. When Gordon wants more gold, you never saw any. This also protects against real collapse of the economy. I note that holding a mere 1% of your wealth in gold protects you against 2 00s chopped off the currency, which has happened to several European countries in living memory.

[YNWA]

Anyone opened a gold account as an alternative to crappy interest in UK banks?

Mate of mine sent me this link where you can buy or sell gold. Might be an alternative to keeping your money in banks, espescially during these times!!

I registered this morning and it shows the gram in my account straight away...dont know what I'm gonna do with it now....just sit and wait if price goes up or not....