What's the spread when selling gold?

[Tyler Durden]

If you buy gold from, and sell it back to, an official dealer (eg. Perth Mint) what is the spread to expect?

For example, if you bought it for $1000, and sell it back to them immediately, are they going to buy it for around $900? $950?

 

[ngombi]

ABC Bullion's prices at their site.

http://www.abcbullion.com.au/products-pricing

Cheers

 

[Tyler Durden]

ABC Bullion's prices at their site.

http://www.abcbullion.com.au/products-pricing

Cheers

Hey thanks, very interesting. Looks like around 4-7%.

 

[skyQuake]

Why not trade the actual futs? Or worse still a CFD?

 

[Samtheman]

Why not trade the actual futs? Or worse still a CFD?

Yeh looks like ASX does it PMgold = Perth mint gold

http://www.asx.com.au/asx/markets/priceLookup.do?by=asxCodes&asxCodes=pmgold

So thats a futures contract correct? What website can you go long or short on gold on?