Gold - Get Physical

[Joules MM1]

What? You think there's more room on the down side?

yes

the 200 day m/a broke, prior the cfd players were averaging 80-90% long in both retail and top clients (now 67% top and 73% retail clients), everyone seeing this as the buying opportunity

technically
the upside has seen a rare 1:1 ratio, has failed to hold the standard-fare floor provided by the peaks at post 2011 high,
did i mention the 200 day m/a broke...when silver breaks 21.57 in the front month contract it will be a confirmation signal

none of this means that gold is not still in a major bull leg and point of view is contextual, altho, be warned if your first instinct is to waffle on some theistic excuse to wear butchers gloves then that may be the moment to recheck the comfortable buy

i get that this thread is mostly long-only thread, ardently defended, altho, like all things in an auction, the defensiveness is a head-scratch and as a once-protagonist of the "incontrivertible trend" has not posted for a while you should ask yourself, "who is doing all that selling that i think is a bargain" ?

 

[frugal.rock]

you should ask yourself, "who is doing all that selling that i think is a bargain" ?

Is it the smart money?
Are they rotating into crypto and buying banks?
Crypto recent pullback is over and now about to seemingly break the highs again.
I am not seeing flight to safety behaviour currently.

 

[againsthegrain]

went to pick up a few ounces of bullion today, there is a few gold dealers in the same building and I have to say there was 2 or 3 people queuing up in each place, usually its pretty empty. Most likely a coincidence, coinciding with all the talk of interest rates going up sooner rather then later?

 

[Garpal Gumnut]

I must admit to being a lover of Japanese novels and short stories in translation. From Murakami to Higashino the breath of suspense and plot twists are extraordinary.

Which brings me to crypto, which Japanese born, has yet to be revealed as the Tulip mania from The East. After the final plot twist, whether it be a virus or a self destruct piece of code. My primary school grandchildren's peers are probably working on it as I type.

And then there is gold. Beautiful gold, which has held its value for a mere 10,000 years through Empires and Tumult, earthquakes and global cooling.

The 10 year chart shows good support/resistance at $US1620-$1790. I am about to add to my physical stores, for a rainy day. It is about $1790 atm which is a 10% stop loss if I am wrong, which few here at the hotel believe.

The chart contains lotsa EW patterns btw for the interested.



gg

 

[Dona Ferentes]

Which brings me to crypto, which Japanese born, has yet to be revealed as the Tulip mania from The East. After the final plot twist, whether it be a virus or a self destruct piece of code. My primary school grandchildren's peers are probably working on it as I type.

And then there is gold.

and maybe a coup or two might disrupt gold output and impact supply, but not like the vulnerability of da 'coin

The computing power of the global bitcoin network has dropped sharply as deadly political violence in Kazakhstan shut down the internet in a country with a fast-growing cryptocurrency mining industry.

Kazakhstan is the world’s second-largest centre for bitcoin mining after the United States, according to the Cambridge Centre for Alternative Finance, after major hub China clamped down on crypto mining activity last year. In August last year, the most recent data available, Kazakhstan accounted for 18 per cent of the global “hashrate” – crypto lingo for the amount of computing power being used by machines hooked up to the bitcoin network.

 

[againsthegrain]

and maybe a coup or two might disrupt gold output and impact supply, but not like the vulnerability of da 'coin

Mining also got banned in Kosovo because power grid is crapping out, however not a big player there

 

[Garpal Gumnut]

For those who prefer physical gold as I do, some hints on how and where to store it both at home and away. Not that Home and Away.

Also some tips on not insuring it and who and how many to tell where it is.

Good digging all.

How to Store Gold at Home

Learn from our experts how to safely store gold jewelry, gold coins and other precious metals in your own home and protect your money against potential theft.

goldsilver.com

gg

 

[Sean K]

For those who prefer physical gold as I do, some hints on how and where to store it both at home and away. Not that Home and Away.

Also some tips on not insuring it and who and how many to tell where it is.

Good digging all.

How to Store Gold at Home

Learn from our experts how to safely store gold jewelry, gold coins and other precious metals in your own home and protect your money against potential theft.

goldsilver.com

gg

I'm contemplating buying one of these for a Sunday walk around Bendigo with the Moodle.

 

[Country Lad]

Also some tips on not insuring it and who and how many to tell where it is.

Good digging all.

gg

Many years ago when my father fell ill he told me "it is buried by the third stump on the eastern side". He recovered and eventually spent it all.

 

[frugal.rock]

Apon his recovery, did you consider shifting it to the second stump?
Would've made a great April fools Day joke ?


A property near me saw two brothers looking for their fathers buried gold coins after he died.
One brother lived there, the other didn't.
After some years of "not finding it", the property was going up for sale so the brother who didn't live there hired a service locating company with ground penetrating radar and metal detectors. Nada, nothing of value found although a days search wasn't enough for the property size.
Would take a couple of months searching, gridding and digging every target to find it, imo.

At the time, there were suttle indications the brother who lived there had already found it...

 

[Garpal Gumnut]

Apon his recovery, did you consider shifting it to the second stump?
Would've made a great April fools Day joke ?


A property near me saw two brothers looking for their fathers buried gold coins after he died.
One brother lived there, the other didn't.
After some years of "not finding it", the property was going up for sale so the brother who didn't live there hired a service locating company with ground penetrating radar and metal detectors. Nada, nothing of value found although a days search wasn't enough for the property size.
Would take a couple of months searching, gridding and digging every target to find it, imo.

At the time, there were suttle indications the brother who lived there had already found it...

That is one element of Gold that I do like. It's anonymity and its ability to be found and lost and then found again by a different person. It can be bought and sold and also gifted.

It can adorn a king or a monastery, be grasped by a Viking or a thieving beggar man.

Gold has a vibe that other tradables don't.

It can make mad men out of sane.

Boring old crypto just has trousers in ars*holes traders and criminals churning it out. It is too industrial for my liking, similar to the casino or pokies.

gg

 

[grant7]

About GOLD etf, i do favor the pmgold one as there is supposed to be a one for one gold to paper match and offered by perth mint..a relatively trusted institution
GOLD and other etf are well known as having only a tenth at most of the paper gold they sell, they are basically fiat currency..

Hi Im new to gold (actually new to any stocks) but feeling lately time to buy Gold. been buying some Gold ETFs on the ASX.
Found this post and wondering on this comment re ETF's and gold backing...

The ETF site states -
"GOLD is backed by physically allocated gold bullion held by JPMorgan Chase Bank, N.A. (the Custodian) in London.
Each physical bar is segregated, individually identified and allocated which means there is no credit risk. Investors can choose to redeem units for the physical holdings."

Doesnt this mean the 'paper gold' is backed one for one by real 'allocated' Gold. ?

Thanks !
Grant

 

[frugal.rock]

I'm contemplating buying one of these for a Sunday walk around Bendigo with the Moodle.

Got bogged trying to get into the Whipstick Forest years ago..
VY commy and huge water filled 4wd ruts...what was I thinking? ?

Was just having a look at the Perth Mint site, but it's down for IT maintenance... brilliant.
Can anyone tell me how long it takes for bullion coin prices to change there?

 

[divs4ever]

LISTEN CAREFULLY! THEY JUST DECLARED WAR ON YOUR GOLD & SILVER INVESTMENTS - ANDY SCHECTMAN​

 

[Dona Ferentes]

Gold goes retail.

bit of a price premium for the convenience, and members limited to 2 bars. They say it's 24 karat.

https://www.mining.com/costco-sold-100-million-worth-of-gold-last-quarter/

 

[Garpal Gumnut]

Gold goes retail.

bit of a price premium for the convenience, and members limited to 2 bars. They say it's 24 karat.

https://www.mining.com/costco-sold-100-million-worth-of-gold-last-quarter/

Costco members getting their 1oz for just a likely 5% premium to wholesale price.

Good on them.

I wonder how much you'd get from the local goldsmith for the 1oz with an attached (presumably) cert. of authenticity.

gg

 

[rcw1]

...

I wonder how much you'd get from the local goldsmith for the 1oz with an attached (presumably) cert. of authenticity.

gg

Good morning Garpal Gumnut

rcw1 goldsmith in Brisvagus:

Buy 1ozt Pool Allocated Gold Bullion Share

Pool Allocated Gold Bullion Share : 1oz Low cost managed bullion with no storage fees $3,927.66 AUD. Click to view our online store.

www.brisbanegoldcompany.com.au

Strictly cash transactions with this mob and yes comes with a piece of paper ... that tells the reader how much an oz you have paid.

Have a safe and happy Christmas.

edit: fix a spelling error.

Kind regards
rcw1

 

[Garpal Gumnut]

Good morning Garpal Gumnut

rcw1 goldsmith in Brisvagus:

Buy 1ozt Pool Allocated Gold Bullion Share

Pool Allocated Gold Bullion Share : 1oz Low cost managed bullion with no storage fees $3,927.66 AUD. Click to view our online store.

www.brisbanegoldcompany.com.au

Strictly cash transactions with this mob and yes comes with a piece of paper ... that tells the reader how much an oz you have paid.

Have a safe and happy Christmas.

edit: fix a spelling error.

Kind regards
rcw1

Thanks @rcw1 , but it doesn't really answer my original question, although perhaps I didn't word it properly.

I presumed the punter in the US had bought his or their 1oz of Gold in the US with $USD from Costco in the US.
I then wondered how that punter would fare in the US with that bar of Gold going in to a goldsmith in the US with their certificate of whatever.
How much a goldsmith would pay that punter for the 1oz. ?

gg

 

[rcw1]

..
I then wondered how that punter would fare in the US with that bar of Gold going in to a goldsmith in the US with their certificate of whatever.
How much a goldsmith would pay that punter for the 1oz. ?

gg

ah yeah ... okay then, @Garpal Gumnut
If this is true ... one-ounce bars of 24-karat gold from South Africa's Rand Refinery and from Swiss supplier PAMP Suisse; as was published:

Costco gold bars were a hot holiday buy — while they lasted

Sales of the one-ounce gold bars are limited to two per membership and sell out "within a few hours."

www.businessinsider.com

rcw1 don't see any problems and the market price would apply having regards to currency used in the first instance.

Have a very nice day, today.

Kind regards
rcw1

 

[Garpal Gumnut]

ah yeah ... okay then, @Garpal Gumnut
If this is true ... one-ounce bars of 24-karat gold from South Africa's Rand Refinery and from Swiss supplier PAMP Suisse; as was published:

Costco gold bars were a hot holiday buy — while they lasted

Sales of the one-ounce gold bars are limited to two per membership and sell out "within a few hours."

www.businessinsider.com

rcw1 don't see any problems and the market price would apply having regards to currency used in the first instance.

Have a very nice day, today.

Kind regards
rcw1

Thanks @rcw1 .

Out of the three I'd go for the Babe Ruth card over the bar and the Mickey Mantle card, the latter seems quite overpriced.

Everyone is so touchy today. Have a nice day today too.

gg