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BHP @ $30 would be an excellent buy!
I would suggest from my ongoing experience that BHP is a better buy than RIO...
.... what is the process and where would I purchase gold??
The Australian market is expected to open with sharp losses, as weak base metal prices and the slide on Wall Street take their toll.
At 0700 AEST, on the Sydney Futures Exchange, the September Share Price Index was down 79 points at 5702.
BHP is at the 30 week moving average now. I hope to see some support here but if not then previous support is around $24.00. I'm just waiting patiently for now and not buying anything even though I'm all cashed up.
The ASX index dropped through the 30week MA like a hot knife thru butter so who knows where it will stop.
Positive geared opportunities appearing.
Check out the Perth Mint. You can buy Au & Ag on line. You should be able to buy common date sovereigns in average conditions at spot + 10%. Each contains .2354oz of pure Au @ A$814/oz so there is $192 of gold in the coin. You could do that on ebay or from London dealers. They are well known around the world and in much more convenient size than a 10oz bar. You can take physical possession of coins but if you do so with bullion bars you may need to have them re-certified if you wish to sell.
Read that $52.47 for CBA, Brenda Irwin.
As we speak.
The volatility in the market shrouds finance/bank stocks. I would have waited for the proverbial dust to settle before making a foray. Although picking the trough can be a toss of a coin.
Lizard King
I am pretty close to the margin call situation (which is not a problem really as I have cash set aside for this) but my main question is whether comsec will call me to get more security or whether they will simply go ahead and sell my shares to bring it below the margin call level?
Just wondering.