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guys, i just found this site & a great one it is.
im interested in buying gold. not now but if we have some deflation and it drops a little lower. i have some questions though if u dont mind:
1. how do we fare in OZ considering i feel in 2009 the US$ will drop severely pushing our dollar higher. does gold become a bad investment for us in this case?
2. would gold stocks such as NCM or LGL do just as well as buying physical gold? having shares would provide more liquidity vs gold bullion or coins.
3. does anyone feel that if we have continued deflation we might see gold at half the price it is now?
4. has anyone purchased from the perth mint? are there prices fluctuation for the gold coins as the POG fluctuates? has anyone noticed?
thanks!
AS
As for NCM/LGL/whatever, it's a tossup on your part between perceived issues with debt/production/institutional involvement (I hear LGL is often the plaything of big instos when they want to earn some day-trading cash) versus market sentiment which will often flood into NCM and LGL irrespective of their real life position i.e. if you are running to gold, why run into the arms of a indebted company like NCM or one that will be using credit to finance expansion like LGL?
Essentially you will need to decide whether you want to trade fundamental issues like debt, production, sovereign risk, etc (as goldbugs generally do) or on sentiment (as everyone else seems to).
re purchasing from PMG, GOOD LUCK MATE!: from my understanding there is a several month order backlog with ZAUWBA redemptions for physical being caught in the contract clause "cash in hand or physical at our pleasure" (sic).
Good luck.
where r u getting it from Ageo?
the australian bullion company has plenty of physical gold on hand, although there is a 3 month wait on delivery of physical silver. they are in pitt st. sydney. it is annoying having to run to several different bank branches to get your money out because they won't let you take out more than $5000 - $10000 a day - definately a red flag to the paranoid.
price list here
You are better with small lots than a 10KG bar ,you need to pay the security guards to walk you to and from the shed to Hacksaw of a piece, to buy a few cans of Spam and 12G rounds.
Some Pawn Brokers deal in Spot Gold. About $18 a Gram.
if you are buying physical gold at 20% above spot price you are a sucker.
if someone is selling you gold, at or below the spot price. ask why? and find out the golds purity. anythign below 99.99% is not pure gold and could explain why it is below the spot price. i dont see people sellign shares below the market price... why sell gold.
1) walk up to a bank in switzerald with a $700,000 AUD in cash or more, and say.. whats the best price you can get me for this much gold. compoare that to the current spot price. walk away if its over 2% of spot.
2) buy gold or gold futures on the chicago mercantile exchange.
For the average investor how else can you buy pure stamped gold? have you even bought gold? how do refiners make money? its called the spread and 30%+ is very common in todays market so obviously you have no idea when buying in australia.
99.99%? and how do you tell its that purity? if you understand refining/purities etc.. you will almost find that hardly anyone even the best of refiners can produce 9999 purity. Usually 9996 is the best they can achieve.
If thats the 2 best ideas on how to purchase gold perhaps shoveling dirt for a living would serve you better???? i can buy gold here much cheaper then i can anywhere else in the world.
Remember when people buy physical gold its usually for long term (5-10+yrs) so 20%+ on the spread wont hurt them much if the time frame is for that long.
2nd: Futures is only good for short term as your leveraged (unless you go the ETF route).
Nothing wrong with hedging yourself for the next 20yrs and paying a little premium to make sure you get the right goods.
99.99%? and how do you tell its that purity? if you understand refining/purities etc.. you will almost find that hardly anyone even the best of refiners can produce 9999 purity. Usually 9996 is the best they can achieve.
well no, i have never actually bougth gold in my life. i actually fould some gold once worth about $200.the closest i came was in 1999 when it was about 200USD and ounce. but i didnt.
so having failed to sell your gold at spot price you will grow more despearate. and consider openign your own jewelry shop or even your own mercantile exchange jsut to sell your gold. whilst the whole time schlepping your bags of gold around. eventually you might entertain the idea of wearing your ornomantal investment. you will turn up to dinner parties with 3 kilos of gold hanging from you hands and neck. people wil complement you on your gold in your presence but secretly they will worry about you and eventually the dinner party invitaitons will dry up. you will be alone in your house laughing madly surrounded by your gold. and will realise you ahev become a prisoner of your investment.
you will see it has dragged you under, you will run out and sell it for any price... any price at all just to be rid of that devil.
invest in phyiscal gold at your own risk.
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