How do I buy gold?

[WBG Redcliffe]

Hi all,

Well to most this will be a very basic question bordering on a dumb question. How does one buy gold? Can I buy it via Commsec? Or do I need to contact a broker?

Thanks in advance.

 

[PrimeCommercial]

Walk into a Jewellery store!

Not sure if comsec deal in Gold.
You can buy the gold mining companies like Lihir Gold
or trade the spot gold price 24hr with someone like
http://www.gft.com.au/
http://www.igmarkets.com.au/cfd/markets-landing.html?ct=n


Depends realy what your after.

Do you just want to buy a few ounces of gold and leave it under your bed? or trade the gold mining companies or the spot price of gold. Most people that trade the spot price use something like a CFD to heavily gear into the market. You can trade all sorts of things with CFD.

My suggestion is, if you have to ask the question about trading spot gold prices be very very careful.

Might pay to do a bit of research into it all and also google 'Gold Cartel'

 

[Ol School Skata]

you can buy through a broker and take physical delivery of it such as http://www.ainsliebullion.com.au/

or buy a share of a gold holding through the asx but never take delivery of it http://www.asx.com.au/asx/research/...panyName=&principalActivity=&industryGroup=NO


I believe there was another thread that ran on buying gold on somersoft a while back.
http://www.somersoft.com/forums/showthread.php?t=32067&highlight=buying+gold

OSS

 

[handyandy]

You can simply rock up to the Australian Bullion Company

http://www.ausbullion.com/

and buy the actuall physical stuff and take it away or they will also store it for you.

You can also buy through the Perth Mint (same deal)

http://www.perthmint.com.au/investment_invest_in_gold_precious_metal_prices.aspx

and no doubt many other places.

Cheers

 

[santaslayer]

Look at asx code: GOLD

 

[willair]

Hi all,

Well to most this will be a very basic question bordering on a dumb question. How does one buy gold? Can I buy it via Commsec? Or do I need to contact a broker?

Thanks in advance.

There has been several posts on Gold and how to buy it in several different ways in this site over the past year or so,and as the price was around 1000$US in march this year,last night around 800$US,the same as all base metal commodity prices from copper to iron ore, so it may pay to have a read of those posts and make your own mind up,before all miners face the working end of a loaded gun,over the next 6 weeks..imho..
willair..

 

[GreatPig]

For an idea of price history in A$, here are a couple of charts of the ASX GOLD fund mentioned by santaslayer. The first is a weekly chart since 2003, and the latter a daily chart since May 2007. Note that the prices are for 1/10th ounce.

The horizontal lines on the daily chart are Fibonacci levels of the last uptrend, which show some interesting (if you're into that sort of thing ) channelling of current prices and general support and resistance levels.

GP

 

[WBG Redcliffe]

Thank you,

You guys are a fountain of knowledge as usual