ConvertedGoldBug Posted March 14, 2008 Report Share Posted March 14, 2008 I've got sovereigns too, also because of the CGT exemption. In fact I ONLY have sovereigns. Just as well really because even accounting for the quite high buy/sell spread, I'm over the CGT threshold already and I only started buying in August last year!. Britannias (1oz) are also CGT exempt but more difficult to get hold of and so seem to command a higher premium. Where's the good places to buy coins from? (I'm in the UK). Had a look at CoinInvestDirect, and they seem good... any others? Someone previously mentioned GoldMoney for silver.... but I had a look on their site, and it looked like they just held it on your behalf... couldn't find any mention of them being a coin supplier to get physical delivery from them (although it was midnight when I was looking, so could have been a bit tired ) And where do you get sovereigns from? CoinInvestDirect didn't have any listed... Link to comment Share on other sites More sharing options...
tazer Posted March 14, 2008 Report Share Posted March 14, 2008 Where's the good places to buy coins from? (I'm in the UK). Had a look at CoinInvestDirect, and they seem good... any others? Someone previously mentioned GoldMoney for silver.... but I had a look on their site, and it looked like they just held it on your behalf... couldn't find any mention of them being a coin supplier to get physical delivery from them (although it was midnight when I was looking, so could have been a bit tired ) And where do you get sovereigns from? CoinInvestDirect didn't have any listed... http://www.goldline.co.uk/bullionCoinsPage.page Link to comment Share on other sites More sharing options...
drbubb Posted March 14, 2008 Report Share Posted March 14, 2008 The CNN article is in essence anti-gold and pro-paper. Firstly it gives the impression that buying and keeping physical gold has high overheads, which isn't really true, and it makes no mention of allocated gold. Secondly, it plugs ETFs, i.e. paper gold. In fairness it does mention that investment in miners is convenient and can provide leverage if the price continues to go up. This sort of article is not ramping real gold. On the contrary it is herding what people might be interested into paper assets while seeming not to oppose gold as an investment. Real gold is anti-paper promises to pay, that's its main fundamental. Right: "This is the hallmark of a mania-driven bubble." No Bubble without the Mania. Whoever wrote that doesnt know what a real bubble looks like Link to comment Share on other sites More sharing options...
pmaupoil Posted March 14, 2008 Report Share Posted March 14, 2008 The $1000 gold price is everywhere in the news although I could not see it from my own eyes in any spot price chart. There could be another attempt this morning, gold is doing pretty well over 998 but I still think it will struggle again for a few days to go beyond that 1000 barrier. Link to comment Share on other sites More sharing options...
drbubb Posted March 14, 2008 Report Share Posted March 14, 2008 The $1000 gold price is everywhere in the news although I could not see it from my own eyes in any spot price chart.There could be another attempt this morning, gold is doing pretty well over 998 but I still think it will struggle again for a few days to go beyond that 1000 barrier. It would be great to see the Gold price banging on the ceiling near $1,000 for a few days before the breakthrough. That would chew up the sellers, and emphasize the importance of this milestone Link to comment Share on other sites More sharing options...
HPCsoYESTERDAY Posted March 14, 2008 Report Share Posted March 14, 2008 just got my krugerrands from coininvestdirect (delivered by UPS) btw, just to add yipeeeeeeeeeeee Link to comment Share on other sites More sharing options...
Steve Netwriter Posted March 14, 2008 Report Share Posted March 14, 2008 This is not a mania. I think it's easy to get the impression everyone is buying gold by looking at threads like this. This is so wrong. Outside the forums on gold I only know one person who has bought gold. Most people I talk to about gold think I'm nuts, stupid, and am going to lose when the bubble bursts - tomorrow A mania is when everyone you talk to asks you how to buy gold, or even worse tells you you should be buying, and boast about how much they have bought. Combine that with the view that this is probably a once in a century combination of events. This is not a speculative bubble. This is a move to a safe haven which has been undervalued for a long time. Just my views Steve Link to comment Share on other sites More sharing options...
G0ldfinger Posted March 14, 2008 Author Report Share Posted March 14, 2008 http://www.bloomberg.com/apps/news?pid=206...&refer=home U.S. Treasury Secretary Henry Paulson said today he backs a ``strong dollar'' and refused to elaborate when questioned at a press conference in Washington. That's so comical really. Link to comment Share on other sites More sharing options...
narrowescape Posted March 14, 2008 Report Share Posted March 14, 2008 Where's the good places to buy coins from? (I'm in the UK). Had a look at CoinInvestDirect, and they seem good... any others? Someone previously mentioned GoldMoney for silver.... but I had a look on their site, and it looked like they just held it on your behalf... couldn't find any mention of them being a coin supplier to get physical delivery from them (although it was midnight when I was looking, so could have been a bit tired ) And where do you get sovereigns from? CoinInvestDirect didn't have any listed... I get mine from ATS bullion ( http://www.atsbullion.com ), though I haven't bought any for a while so I don't know how their stocks are at the moment. The main reason I use them is that they have an office in London so I can go and see them if anything goes wrong, which it hasn't (up to now!). Link to comment Share on other sites More sharing options...
G0ldfinger Posted March 14, 2008 Author Report Share Posted March 14, 2008 It would be great to see the Gold price banging on the ceiling near $1,000 for a few days before the breakthrough.That would chew up the sellers, and emphasize the importance of this milestone Also good for those who want to make use of the cheap prices below $1,000. Link to comment Share on other sites More sharing options...
pmaupoil Posted March 14, 2008 Report Share Posted March 14, 2008 Most of the people I meet know about the commodities boom and certainly the gold one which gets some fair publicity but when they look at the graphs and the fact that gold quadrupled in the past 7/8 years, they just think they missed the boat... At the moment Joe Public is not too concerned with inflation of around 5% but when the effect of the massive injections will start causing significant increased prices and most importantly the frequency of these increases then Joe will have no choice but to opt for some PM and then mania will start. This is not a mania.I think it's easy to get the impression everyone is buying gold by looking at threads like this. This is so wrong. Outside the forums on gold I only know one person who has bought gold. Most people I talk to about gold think I'm nuts, stupid, and am going to lose when the bubble bursts - tomorrow A mania is when everyone you talk to asks you how to buy gold, or even worse tells you you should be buying, and boast about how much they have bought. Combine that with the view that this is probably a once in a century combination of events. This is not a speculative bubble. This is a move to a safe haven which has been undervalued for a long time. Just my views Steve Link to comment Share on other sites More sharing options...
ConvertedGoldBug Posted March 14, 2008 Report Share Posted March 14, 2008 This is not a mania.I think it's easy to get the impression everyone is buying gold by looking at threads like this. This is so wrong. Outside the forums on gold I only know one person who has bought gold. Most people I talk to about gold think I'm nuts, stupid, and am going to lose when the bubble bursts - tomorrow A mania is when everyone you talk to asks you how to buy gold, or even worse tells you you should be buying, and boast about how much they have bought. Combine that with the view that this is probably a once in a century combination of events. This is not a speculative bubble. This is a move to a safe haven which has been undervalued for a long time. Just my views Steve I've been thinking about this "mania" scenario, and wondering how it would play out. I agree that people I know and work with aren't aware about all this... had one or two comments about awareness of the price going up, but that's so different to them actually parting with their cash to buy Gold as an investment (i.e. to make "money"). In fact, in my office, most people are skint from the general cost of day-to-day living, so can't see them getting in on the mania to buy physical gold when the price is higher, as it's already pretty expensive to buy just 1oz (maybe more than people's disposable income from just one month's wages). So unless they can get in on the craze via something cheaper (e.g. funds investing in gold miners, or ETF's where the price of one "share" is 1/10 of an ounce of gold), I think it's going to be the big players that push the price of physical gold up, and the general public getting in on it in other ways. I reckon it's the mining companies that people will jump on the bandwagon with, once newspapers start advertising new mutual fund launches, and how you can invest in your ISA in a fund, with past performance figures to back this up.... rather the same way that everyone wanted to buy Dot.com shares/funds. And while it will be the established miners who will be making real profits, I expect they'll be loads of new mining exploration start-ups created with the speculation of potential gold discoveries (just like the Dot.con start-ups that never made any real profits). That's when the mania will really hit the public awareness. Still can't really see that the man in the street is going to go out and spend £500, £700, £1000+ etc. on just a single gold coin... it may even be possible that they'd sell their "useless" gold jewellry to reinvest in something such as these mutual funds etc., where they think they can make some "real money" that they can spend in the shops! Link to comment Share on other sites More sharing options...
drbubb Posted March 14, 2008 Report Share Posted March 14, 2008 Let's WATCH GLD (the Gold etf)... And see what the volume looks like if/when it gets through that key level (I will also post this on HPC, GHPC, and Advfn) Link to comment Share on other sites More sharing options...
alexreeve Posted March 14, 2008 Report Share Posted March 14, 2008 The consensus seems to be that mining shares are lagging on the way up, but presumably they won't lag on the way down. I'd like to invest some more money this Summer and am thinking about the mining shares rather than Bullion this year. Do you think the shares in the mining companies will take an immediate hit if Gold does retrace sharply to 850 or so? Link to comment Share on other sites More sharing options...
ConvertedGoldBug Posted March 14, 2008 Report Share Posted March 14, 2008 I've been thinking about this "mania" scenario, and wondering how it would play out. I agree that people I know and work with aren't aware about all this... had one or two comments about awareness of the price going up, but that's so different to them actually parting with their cash to buy Gold as an investment (i.e. to make "money"). In fact, in my office, most people are skint from the general cost of day-to-day living, so can't see them getting in on the mania to buy physical gold when the price is higher, as it's already pretty expensive to buy just 1oz (maybe more than people's disposable income from just one month's wages). So unless they can get in on the craze via something cheaper (e.g. funds investing in gold miners, or ETF's where the price of one "share" is 1/10 of an ounce of gold), I think it's going to be the big players that push the price of physical gold up, and the general public getting in on it in other ways. I reckon it's the mining companies that people will jump on the bandwagon with, once newspapers start advertising new mutual fund launches, and how you can invest in your ISA in a fund, with past performance figures to back this up.... rather the same way that everyone wanted to buy Dot.com shares/funds. And while it will be the established miners who will be making real profits, I expect they'll be loads of new mining exploration start-ups created with the speculation of potential gold discoveries (just like the Dot.con start-ups that never made any real profits). That's when the mania will really hit the public awareness. Still can't really see that the man in the street is going to go out and spend £500, £700, £1000+ etc. on just a single gold coin... it may even be possible that they'd sell their "useless" gold jewellry to reinvest in something such as these mutual funds etc., where they think they can make some "real money" that they can spend in the shops! I'm also thinking Joe Public will start using leverage, and taking out loans etc. to invest in gold at this stage... rather like they have jumped on the Buy-to-Let bandwagon by taking out BTL mortgages... although probably on a smaller scale. And when the bubble bursts, that could leave more people with huge losses and debts, and maybe more bank credit write-downs etc. Link to comment Share on other sites More sharing options...
drbubb Posted March 14, 2008 Report Share Posted March 14, 2008 The consensus seems to be that mining shares are lagging on the way up, but presumably they won't lag on the way down. I'd like to invest some more money this Summer and am thinking about the mining shares rather than Bullion this year. Do you think the shares in the mining companies will take an immediate hit if Gold does retrace sharply to 850 or so? If we get a pullback in Gold, I expect gold shares to hold up "surprisingly well". We saw that in an oil price pullback about two years ago Link to comment Share on other sites More sharing options...
safebetter Posted March 14, 2008 Report Share Posted March 14, 2008 Haha. Another Wall Street apologist? "subprime writedown - end in sight!" What's Next: + Prime mortgages + Credit Insurance writedowns + Credit derivatives writedown + Credit cards, auto, corporate loan problems + Municipal meltdown (as tax revs fall) Why would anyone listen to: ? - Standard & Poors - Greenspan - Washington Insiders - Other Wall Street apologists ... who may tell you "an end is in sight"? They have missed every obvious risk Thanks for the responses DrBubb. Anyone see the UK ITV "News at Ten" last night. Gold reaching $1000 got two mentions - there was even a brief interview with a lady from the World Gold Council (can't find the article/link at ITV if anyone else wants to try) who stated that they expected $1200 and perhaps even $1500. Amazing how main stream gold is becoming. Funny how the media has not told the public that if they had invested in gold in 2004 they would now be looking at ~150% gain. Of course one could cynically say that it suited the VI's to promote real estate heavily to keep the game alive. Perhaps Kirsty Allsop & Phil Spencer are already filming their new Channel4 Gold Sitcom called "Bling, Bling, Bling" On a final note re the retracement - from what I have picked up from you guys it's all about holding your nerve, don't panic & remember you don't make a loss until you sell, assuming it does go back up! SafeBetter Link to comment Share on other sites More sharing options...
G0ldfinger Posted March 14, 2008 Author Report Share Posted March 14, 2008 http://www.telegraph.co.uk/money/main.jhtm.../cnirish111.xml The Bank for International Settlements said in its latest report that there had been a surge in euro bond and note issuance in Ireland in the third quarter to $35bn (£17.4bn), up from $10bn. This is a huge sum for a country of 4.2m people. Wait a second! The Irish take out around $10,000 new debt per person per quarter? Oh dear. Link to comment Share on other sites More sharing options...
drbubb Posted March 14, 2008 Report Share Posted March 14, 2008 CHARTAnd see what the volume looks like if/when it gets through that key level (I will also post this on HPC, GHPC, and Advfn) The "see what the volume looks like" link is back here- to this thread. The HPC mods keep DELETING that line. It seems that they are watch their GOLD thread very carefully. This is strange behaviour after being so hard on the Gold posters there Link to comment Share on other sites More sharing options...
narco Posted March 14, 2008 Report Share Posted March 14, 2008 http://www.bloomberg.com/apps/news?pid=206...&refer=home That's so comical really. How can anyone prop up a turd? Link to comment Share on other sites More sharing options...
marceau Posted March 14, 2008 Report Share Posted March 14, 2008 Bloomberg Hey, it's alright everyone. Inflation has been contained. The market (and particularly the dollar) is truly clutching at straws if it can rise on news like this. This month's drop to 4% CPI is at best a knee jerk pullback from last month's figures and at worst is complete US treasury bullsh*t manipulation. Either way, I'm assuming the markets now think a 75bps cut is a certainty on the 18th. I think we can all imagine what will happen if they don't get their way. Link to comment Share on other sites More sharing options...
marceau Posted March 14, 2008 Report Share Posted March 14, 2008 There will be plenty of gold short stops at 1000, 1001 and 1002. If these numbers get breached, gold will move up quickly. I'll be going long (short term) if it drops below $990 before restesting $1000, as that retest should come back around fairly quickly. Link to comment Share on other sites More sharing options...
drbubb Posted March 14, 2008 Report Share Posted March 14, 2008 I've been thinking about this "mania" scenario, and wondering how it would play out. I agree that people I know and work with aren't aware about all this... had one or two comments about awareness of the price going up, but that's so different to them actually parting with their cash to buy Gold as an investment (i.e. to make "money"). In fact, in my office, most people are skint from the general cost of day-to-day living, so can't see them getting in on the mania to buy physical gold when the price is higher, as it's already pretty expensive to buy just 1oz (maybe more than people's disposable income from just one month's wages). Skint... Because they have too much mortgage debt? Link to comment Share on other sites More sharing options...
marceau Posted March 14, 2008 Report Share Posted March 14, 2008 Dollar index below 72 again. I think its about to have a very bad day. Should be good for gold though. Link to comment Share on other sites More sharing options...
marceau Posted March 14, 2008 Report Share Posted March 14, 2008 Well over $1000 spot now. Link to comment Share on other sites More sharing options...
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now