Buying silver and gold

[normanstyles]

I'v saved up a few grand, 2000$, and was interested in buying gold or silver. silver kilo bars are around 500$ each i read in the paper. I live in victoria, do i buy shares in a company that buys and holds the silver for me or is there someone i can go to buy silver, i would prefere the tangible option, and what is the options i have when i wish to sell it.?

 

[Glen48]

If you are buying any thing get it in small lots , that way you can sell small amounts rather than 1 x 50kg bar

 

[nunthewiser]

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



hope that helps

 

[normanstyles]

thats the perth mint. is there a melbourne mint?

 

[nunthewiser]

read the site , explore it , it shows where to buy in other states too

 

[normanstyles]

thankyou.

 

[finicky]

Rather than deal with the Perth mint I would look in the Yellowpages.com.au under 'Gold and Silver Merchants' under the Melbourne location. A few dealers have there own websites. They will courier the silver to you at not too much cost.

http://yellowpages.com.au/search/po...erchants&locationClue=Melbourne+VIC&x=39&y=18

Here's one:

http://www.heavymetalholdings.com.au/

 

[Wysiwyg]

Here is a place where you can buy/sell gold.

http://www.ainsliebullion.com.au/ea...ode=e004p01_stdEshop&page_code=buying_selling

Telephone orders

If it is inconvenient to visit our office, you may use our telephone service or internet inquiries service. Simply phone us on (07) 3221 0500 or toll free on 1800 819 474 and place your order. The order will be placed in your name and held for you free of charge, until you have time to collect it. Alternatively, for a small charge (which includes insurance) your order can be shipped directly to you. Payment must be received on the same day of purchase, either by telegraphic transfer or cash into our bank account.

 

[Reealjrd]

If willing to purchase gold or silver. First please go through the market trend what it is saying. Weather buying gold or silver will be profitable in the future. Go for small lots of gold and silver.

 

[Wysiwyg]

If willing to purchase gold or silver. First please go through the market trend what it is saying. Weather buying gold or silver will be profitable in the future. Go for small lots of gold and silver.

Yeah doubt if another top will be put in over the next year or two and the downtrend to continue.

He did want to know where to buy gold from though!!

 

[BentRod]

Norm,
Your better off giving physical bars a miss.

You pay more in the spread and they are a hassle to store/get rid of.

It might be worth opening an account with Oanda as they are the only ones I know of that offer precise position sizing in Silver/Gold.

 

[rowie]

Can anyone advise on buying gold bullion securities or GOLD on asx? Is it the same as buying physical gold or are there disadvantages to it? It seems like a good alternative to buying physical gold and looks like it tracks the price of gold pretty acurately.

 

[CanOz]

Norm,
Your better off giving physical bars a miss.

You pay more in the spread and they are a hassle to store/get rid of.

It might be worth opening an account with Oanda as they are the only ones I know of that offer precise position sizing in Silver/Gold.

Bent, do you trade the XAU/USD?

Cheers,

CanOz

 

[CanOz]

Can anyone advise on buying gold bullion securities or GOLD on asx? Is it the same as buying physical gold or are there disadvantages to it? It seems like a good alternative to buying physical gold and looks like it tracks the price of gold pretty acurately.

With GOLD on the ASX you are at the mercy of the AUD. If it drops, as seems to be the trend, then you'll suffer two fold if gold futures drop as well.

Cheers,


COz

 

[rowie]

With GOLD on the ASX you are at the mercy of the AUD. If it drops, as seems to be the trend, then you'll suffer two fold if gold futures drop as well.

Cheers,


COz

Thanks CanOz for your thoughts.
But GOLD that is traded on the ASX is not tied to gold futures though. The actual security that is purchased is backed by gold bars held on trust by a custodian in an allocated account. Hence for each GOLD security on issue there is a corresponding amount of gold held in trust. Not sure where the risk lies here or why it would be worse than buying actual physical gold as there are no issues with storage and insurance. Surely there is a catch I am missing somewhere.

 

[Wysiwyg]

What a laugh.I was reading a website and they had below printed out.

US$10000 / ounce of silver.What a load of bollocks.

As this graph below demonstrates we are now at the begging of the next Bull Run in Silver and with everything mentioned above, many analysis and commodity / precious metal experts have predicted prices ranging from US$30.00 to US$10,000.00 an ounce.

Floggin` the stuff is hard work by the looks.

 

[rowie]

Probably a dumb question but what is the difference between an Australian Bullion Company 1kg bar of silver and a perth mint 1kg bar? Nothing Im thinking but just want to confirm.

 

[Uncle Festivus]

Probably a dumb question but what is the difference between an Australian Bullion Company 1kg bar of silver and a perth mint 1kg bar? Nothing Im thinking but just want to confirm.

Check the purity eg four nines eg 99.99% silver?? or better
Different logo stamp?
Buy & sell spread of each?
Each will probably give you a slight premium to buy back their own brand or discount if other brand?
Not much diff otherwise?

 

[Wysiwyg]

Probably a dumb question but what is the difference between an Australian Bullion Company 1kg bar of silver and a perth mint 1kg bar? Nothing Im thinking but just want to confirm.

Check the prices too. I was quoted A$585 / kg. of Ag today at Ainslie and Perth Mint have them for A$509 / kg.(99.9% pure)

 

[BentRod]

Bent, do you trade the XAU/USD?

Cheers,

CanOz

Sorry missed this Can.

Yes I do, XAG/USD also.

Spreads are best during the US session.

cheers