Gold price over $US1600/ounce

Sunfish said:
The reason I gave the advice I did is that Theresa is probably only talking about retail quantities, not kilo bars. Buy it without leverage and consider it an insurance policy which doesn't expire worthless in 12 months time.
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Yes, one of my Father's friends told him how he made thousands in a few months trading gold, and now my Father wants to have a go. :rolleyes: It's not my thing, but I will pass on your excellent advice.

Any preferences on places to buy/sell common sovereigns?

Thanks. :)
 
Theresa777 said:
Yes, one of my Father's friends told him how he made thousands in a few months trading gold, and now my Father wants to have a go. :rolleyes: It's not my thing, but I will pass on your excellent advice.

Any preferences on places to buy/sell common sovereigns?

Thanks. :)
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If your Dad want's to "make thousands in a few months" then he must buy GOLD (it's a gold ETF) on leverage, on the ASX. You can do that via a standard broking account. To make REAL money you trade options but he would need a specialised account for that.

None of this with MY blessing though. caveat emptor.
 
That's interesting Sunfish

Of course I would like to make money off gold (or anything faeasable actually), but I do have limiteid knowledge , funds and appetite for risk etc.

I have thought about whether it was worth going out and buy in an oz or so of gold

The sovereign coins sound interesting....

Hmmmm
 
Sunfish said:
Buy common date sovereigns and keep them somewhere safe at home.
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Only problem with sovereigns is they are not fine enough to avoid GST. So dealers markups on these can be considerably higher than other forms of Gold.

In my opinion sovereigns are a great SHTF scenario coin, containing slightly less than 1/4 of an ounce (.2354oz AGW), but if you want maximum exposure to the spot price of Gold in a physical form then plain Gold bars (e.g. 1/2 or 1oz) is probably the way to go.

You could look for a private seller of sovereigns (who can sell without GST markup), but I would recommend to start with buying from a dealer.

I do agree that they are a great coin though (sovs), have many myself.
 
Sunfish said:
If your Dad want's to "make thousands in a few months" then he must buy GOLD (it's a gold ETF) on leverage, on the ASX. You can do that via a standard broking account. To make REAL money you trade options but he would need a specialised account for that.

None of this with MY blessing though. caveat emptor.
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Think these few days you short gold as knee jerking at hedge funds are covering losses.

But by end of year, gold should be high if status quo continues.

Copper getting slaughtered!!!! And that's the best gauge
 
tempted to go to the mint at lunchtime :confused:

I'm figuring I got $1k + of dividend s coming in the next few days... do I lash out and buy 1/2 or 1 oz instead of buying shares ? :confused:
 
jaycee said:
tempted to go to the mint at lunchtime :confused:

I'm figuring I got $1k + of dividend s coming in the next few days... do I lash out and buy 1/2 or 1 oz instead of buying shares ? :confused:
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You always pay higher premiums for smaller size. Right now, I prefer silver, but gold in 1/2 or 1 oz is a preference based on how many $$$ you have and what premium you are willing to stomach.

I only ever buy physical bullion.... never that ETF crap or other paper certificates. With PMs, if you can't touch it, you don't own it.
 
Deltaberry said:
.

Copper getting slaughtered!!!! And that's the best gauge
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I dont trust Dr Copper anymore as a guage of future economic growth, ever since it became a play thing of hedge funds and 'alternative investments' for superannuation.

Copper as an indicator of future demand relies on the premise that it is being bought for future use, not to be held as an 'investment'.
 
Indifference said:
You always pay higher premiums for smaller size. Right now, I prefer silver, but gold in 1/2 or 1 oz is a preference based on how many $$$ you have and what premium you are willing to stomach.

I only ever buy physical bullion.... never that ETF crap or other paper certificates. With PMs, if you can't touch it, you don't own it.
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Well I went and bought a 1/2 oz of gold

And it went down in value almost overnight lol
 
jaycee said:
Well I went and bought a 1/2 oz of gold

And it went down in value almost overnight lol
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Well, that all depends how you define "value".... if you simply compare it to fiat currency spot price, then yeah, it has fluctuated a bit this past week.

How about you consider using other markers to define "value" such as units of the DOW or house price to gold ratio etc.... I prefer to measure assets in terms of other assets. Fiat currency is a fluctuating bad joke with many variables that will malign your measure of true "value"...... Currency is merely an exchange medium, not a true measure of "value"...
 
Indifference said:
Well, that all depends how you define "value".... if you simply compare it to fiat currency spot price, then yeah, it has fluctuated a bit this past week.

How about you consider using other markers to define "value" such as units of the DOW or house price to gold ratio etc.... I prefer to measure assets in terms of other assets. Fiat currency is a fluctuating bad joke with many variables that will malign your measure of true "value"...... Currency is merely an exchange medium, not a true measure of "value"...
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yeah but I'd still feel better if it was selling for more :p
 
Indifference said:
Ahh, yes, but let's not confuse PRICE with VALUE.... ;)

After all, we are talking about ASSETS, not TVs.... :D
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If I need to sell an assett caue they depearately needed cash for urgent important bill, wouldn't one prefer to sell it for a higher $ price than a lower $ price ?
 
jaycee said:
If I need to sell an assett caue they depearately needed cash for urgent important bill, wouldn't one prefer to sell it for a higher $ price than a lower $ price ?
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Firstly, I fully understand your sentiment here. Yeah sure, more $ generally mean you can buy more stuff BUT this is NOT always true. For instance, I have one Quadrillion dollars in cash (yes, that is a real number & yes it is/was real currency).... the problem is that the currency is from Zimbabwe. OK, but we all know that Zimbabwe was a special case, that only happened as it was a developing nation with much corruption & this never happens in "our" world.... WRONG!!!

There are plenty of examples in the 20th century alone... Germany was one & look at them now! At the height of hyperinflation in Weimar Germany, currency was being burnt as fuel for heating!!! My point is NOT that we are heading for those extremes, but rather to articulate how far that end of the scale can really go.

Now, back to the more $$$ thing. IMO, selling an "asset" to pay a bill is a matter of last resort. An asset "generates" income in a true business sense. This income buys "stuff", so why would we sell an "asset"? Perhaps to buy a better asset... The other point is regarding "value" versus "price". If when I bought gold, it took 500 oz to buy an average home, and now it cost me 200 oz to buy same/equivalent home, do I really care what the $$$ price of my gold is? I suggest not, as in this instance currency is being used effectively... as an exchange medium

This may sound like a subtle point, but I assure you it is a significant shift in HOW to think about money, currency and assets.
 
Indifference said:
Firstly, I fully understand your sentiment here. Yeah sure, more $ generally mean you can buy more stuff BUT this is NOT always true. For instance, I have one Quadrillion dollars in cash (yes, that is a real number & yes it is/was real currency).... the problem is that the currency is from Zimbabwe. OK, but we all know that Zimbabwe was a special case, that only happened as it was a developing nation with much corruption & this never happens in "our" world.... WRONG!!!

There are plenty of examples in the 20th century alone... Germany was one & look at them now! At the height of hyperinflation in Weimar Germany, currency was being burnt as fuel for heating!!! My point is NOT that we are heading for those extremes, but rather to articulate how far that end of the scale can really go.

Now, back to the more $$$ thing. IMO, selling an "asset" to pay a bill is a matter of last resort. An asset "generates" income in a true business sense. This income buys "stuff", so why would we sell an "asset"? Perhaps to buy a better asset... The other point is regarding "value" versus "price". If when I bought gold, it took 500 oz to buy an average home, and now it cost me 200 oz to buy same/equivalent home, do I really care what the $$$ price of my gold is? I suggest not, as in this instance currency is being used effectively... as an exchange medium

This may sound like a subtle point, but I assure you it is a significant shift in HOW to think about money, currency and assets.
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Too subtle for my thick skull I think :D
 
Don't kill the Golden Goose that lays the golden eggs regularly

.....unless, as Indifference mentions......." An asset "generates" income in a true business sense. This income buys "stuff", so why would we sell an "asset"?
Perhaps to buy a better asset.."

Killing the goose will soon put an end to the supply of eggs.....selling off to invest in a better asset (perhaps a Platinum Goose) is a far better strategy.

I am doing this currently. Sold off a couple of growth assets to re-invest in more income oriented assets..........I want more eggs :p :)
 
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