Gold

Buzz56

I was thinking of putting some money into gold. Has anyone experience with bullion direct. Also what kind of commission / premium could you expect to pay on top of the spot price. Bullion direct say they buy back your gold as well. Would this be below spot price? Thanks.

green_island

Buzz56 wrote: »

I was thinking of putting some money into gold. Has anyone experience with bullion direct. Also what kind of commission / premium could you expect to pay on top of the spot price. Bullion direct say they buy back your gold as well. Would this be below spot price? Thanks.

goldcore in dublin are an excellent bullion dealer to do business with , excellent customer service

gold may have a bit to fall yet , the dollar is strong due to the weak euro , gold goes down when the dollar is strong

golden lane

don't forget any vat etc on transactions.....

Lex_Diamonds

I'd be wary of precious metals. I think they are set to fall to early 2000 levels as the paper economy evolves into a new normal and certainty returns to the market. As deluded as that certainty may be. Long gold wont reward its holders monetarily, just get into it if you are worried about imminent currency crisis, dont expect a return.

Buzz56

golden lane wrote: »

don't forget any vat etc on transactions.....

Is there VAT on gold? I thought gold was free from VAT.

stackerman

No VAT on Gold ( info from the revenue), there is on silver.

See PM Buzz

Highnoon

Looking to invest in metals but more as a hedge. Want to hold the physical produce and not certs. Looked at Goldcore but there is a minimum buy which for some things is way outside my price range. Any other trustworthy, no minimum buy places in Ireland that someone has first hand experience with? Failing that I see Suisse Gold are delivering to Ireland, but nervous with overseas transactions. Afraid of being ripped off. Weird because I have no problem buying books etc online. Anyone dealy with Suisse Gold? Other recommendations?

inda_kenny

Highnoon wrote: »

Looking to invest in metals but more as a hedge. Want to hold the physical produce and not certs. Looked at Goldcore but there is a minimum buy which for some things is way outside my price range. Any other trustworthy, no minimum buy places in Ireland that someone has first hand experience with? Failing that I see Suisse Gold are delivering to Ireland, but nervous with overseas transactions. Afraid of being ripped off. Weird because I have no problem buying books etc online. Anyone dealy with Suisse Gold? Other recommendations?

goldcore have a minimum of 5 k or at least used to

Highnoon

Hi guys. They recommend 10% of your money in metals, that doesn't leave me much room for splashing out:). I have been looking at goldbank.ie and Irish Gold Bullion. But due to high price of gold I'm looking at the Silver Austrians. I can get around 30 coins in silver for the price of 1 gold coin. 1 coin wouldn't be a very impressive collection . Has anybody dealt with the above 2 companies?

kermit_the_dog

Highnoon wrote: »

Hi guys. They recommend 10% of your money in metals, that doesn't leave me much room for splashing out:). I have been looking at goldbank.ie and Irish Gold Bullion. But due to high price of gold I'm looking at the Silver Austrians. I can get around 30 coins in silver for the price of 1 gold coin. 1 coin wouldn't be a very impressive collection . Has anybody dealt with the above 2 companies?

silver is not a good investment IMO , its incredibly volatile, its 50% down on where it was in may 2011 and relies on speculation and industrial demand , the outlook in the near term is not good for silver

as for the companies you highlight , goldcore are better than either of them to deal with

buck65

I used Bullion Vault a few years back and made a 10% return in a few months, min order applies but it was a good service. Not sure if gold is a bad buy now either.

euroboom13

there is a time for safety and a time for bravery ....risk is is undervalued now....come out and play leave gold for dentures.....get some risk in

OfflerCrocGod

euroboom13 wrote: »

there is a time for safety and a time for bravery ....risk is is undervalued now....come out and play leave gold for dentures.....get some risk in

Gold is risk. It's been following all the other commodities in a downward direction.

Risk is not undervalued if the world is plunged into a 1930's Great Depression.

euroboom13

we have just experinced the depression (similar 1929/33)we`re now heading for an asset boom with increasing interest rates and high inflation (food/fuel driven)....high rents/ low property values...lower gold prices higher fuel prices.....GOLD aint high risk (wont fall or rise much more than 50%) Little riskier than long term fixed accounts,but that aint RISK:rolleyes:...

Jim2007

Personally I would never invest in anything who's value was purely dependent on fear and greed....

But having said that I'm surprised the people going out to buy gold never ask the most obvious question - how to you authenticate your gold? I live in a country where you can walk into almost any high street bank and buy as much precious metals as you want, however selling is a different matter! If you want to sell say an American Gold Eagle or whatever, you may have to visit several banks to find one that is willing to accept it...

SyntonFenix

I think people need to do their homework on the history of fiat currencies. They never last. The only form of money that has lasted for thousands of years is gold and silver. A physical, tangible asset that has true purchasing power.

The debt being amassed in the USA is just lunacy and a seriously dangerous outcome has to be coming down the road. The USA can print it's own money though.

Buy physical gold and think about a hedge account in gold. The loss and gains should even out. Only 10 to 15% though. Diversify your investment, ignore that simple old rule of investing at your peril.

consultan

http://www.boards.ie/vbulletin/showthread.php?t=2056652670

euroboom13

....if u believe that this crisis will go on indefinitely stay with gold.....if u believe like me that change is nigh....speculate ....the tide is changing direction (what worked the last 5yrs wont work the next 5).......

consultan

i tripled my money trading gold for 2 years....300% net profit is not bad. once the federal reserve starts to push interest rats up dramatically, i will exit this market and trade land

paul_mcshane

consultan wrote: »

i tripled my money trading gold for 2 years....300% net profit is not bad. once the federal reserve starts to push interest rats up dramatically, i will exit this market and trade land

land is going up all the time , went up by 15% in ireland last year , hard to compete with wealthy farmers

Low Energy Eng

consultan wrote: »

i tripled my money trading gold for 2 years....300% net profit is not bad. once the federal reserve starts to push interest rats up dramatically, i will exit this market and trade land

well done, were you leveraged?

also, i don't see interest rates going up anytime soon

FISMA

Lex_Diamonds wrote: »

I'd be wary of precious metals. I think they are set to fall to early 2000 levels as the paper economy evolves into a new normal and certainty returns to the market. As deluded as that certainty may be. Long gold wont reward its holders monetarily, just get into it if you are worried about imminent currency crisis, dont expect a return.

!!!:eek:!!!

You can't be serious, can you? If so, would you care to short the GLD or the SLV?

There isn't a hope in hell that Gold is going to $300/ounce. Unless, of course a Gold meteor crashes into the Earth.

We'll hit $2000 far before $1000 and we're not hitting $1000 anytime in the next few years.

I'm long gold in both physical and the etf.

kermit_the_dog

FISMA wrote: »

!!!:eek:!!!

You can't be serious, can you? If so, would you care to short the GLD or the SLV?

There isn't a hope in hell that Gold is going to $300/ounce. Unless, of course a Gold meteor crashes into the Earth.

We'll hit $2000 far before $1000 and we're not hitting $1000 anytime in the next few years.

I'm long gold in both physical and the etf.

despite all the limping from crisis to crisis in europe , gold still hasnt gone parabolic

gold is a doomsday assett and the world is too interconnected to countenance armageddon nowadays

digitally-yours

FISMA wrote: »

!!!:eek:!!!

You can't be serious, can you? If so, would you care to short the GLD or the SLV?

There isn't a hope in hell that Gold is going to $300/ounce. Unless, of course a Gold meteor crashes into the Earth.

We'll hit $2000 far before $1000 and we're not hitting $1000 anytime in the next few years.

I'm long gold in both physical and the etf.

Keep Buying sir I need someone to take my other side

if you have a STOP of 300 and target of 2k isnt that a vary unbalanced trade based on R ?

FISMA

digitally-yours wrote: »

Keep Buying sir I need someone to take my other side

How did that other side feel today?:rolleyes:

GLD up 3.88% and Gold up $61.28 in a day just because the US numbers were much poorer than expected.

Imagine what an official Greek default or exit will do.

Imagine what the official announcement of QE 3 is going to do.

All this during a time where we're seeing deflation?

Still not convinced with the $15xx bottom in gold? What then would convince you?

Roonbox

kermit_the_dog wrote: »

despite all the limping from crisis to crisis in europe , gold still hasnt gone parabolic

gold is a doomsday assett and the world is too interconnected to countenance armageddon nowadays

Let me guess, it's different time right?

stackerman

http://www.dailymail.co.uk/news/article-2153324/Markets-facing-rerun-Great-Panic-2008-Head-World-Bank-warns-Europe-heading-danger-zone-bleakest-day-global-economy-year.html

Being interconnected makes it worse, if one goes . . . .

digitally-yours

Taking small profits on Gold Short here from 1622
as there is a Bull Flag forming on hourly

FISMA

digitally-yours wrote: »

Taking small profits on Gold Short here from 1622
as there is a Bull Flag forming on hourly

Lad - short away and I hope you make money. But you're playing with fire.

Bernanke could open his mouth at any time anything that sounds like QE3 or even QE2.5 will send Gold shooting up 5-7% that day.

Careful...

Roonbox

FISMA wrote: »

Lad - short away and I hope you make money. But you're playing with fire.

Bernanke could open his mouth at any time anything that sounds like QE3 or even QE2.5 will send Gold shooting up 5-7% that day.

Careful...

I dunno if QE3 will have the same affect as QE2 or QE1, the patient has cancer, a bandaid wont do much..

Just an opinion

euroboom13

wheres gold going........into european stock? safe haven exit time?

FISMA

Roonbox wrote: »

I dunno if QE3 will have the same affect as QE2 or QE1, the patient has cancer, a bandaid wont do much..
Just an opinion

I believe the announcement of QE3, QE2.x, son of QE, or whatever it is called will push Gold to and through $2k.

Did you see today's action? Bernanke says nothing about QE and the GLD drops almost 3%.

I plan to get back in if/when we pull back around $150 on the GLD. It's a support level that is sticking and tested.

We'll see!

BTW - just bought the physical.

digitally-yours

FISMA wrote: »

How did that other side feel today?:rolleyes:

GLD up 3.88% and Gold up $61.28 in a day just because the US numbers were much poorer than expected.

Imagine what an official Greek default or exit will do.

Imagine what the official announcement of QE 3 is going to do.

All this during a time where we're seeing deflation?

Still not convinced with the $15xx bottom in gold? What then would convince you?

If you read my post correctly you would have noticed that I shorted it after the 61$ move

Keep buying

You clearly have no clue about investments if you hold your sentiments so strongly.

digitally-yours

FISMA wrote: »

I believe the announcement of QE3, QE2.x, son of QE, or whatever it is called will push Gold to and through $2k.

Did you see today's action? Bernanke says nothing about QE and the GLD drops almost 3%.

I plan to get back in if/when we pull back around $150 on the GLD. It's a support level that is sticking and tested.

We'll see!

BTW - just bought the physical.

Look to buy at 1423 dont ask me why :P

coolabuaile

I would recommend you spend 10% of your savings on silver. The historical price ratio between gold and silver is 1:16. Right now it's more like 1:60! I spent a small few euro on silver by sheer fluke 5 years ago and have seen my investment triple. It was only recently that I started seriously reading up on this stuff, very confusing but if you can filter most of the crap talk out, it seems silver is the way to go.

Lplated

coolabuaile wrote: »

I would recommend you spend 10% of your savings on silver. The historical price ratio between gold and silver is 1:16. Right now it's more like 1:60! I spent a small few euro on silver by sheer fluke 5 years ago and have seen my investment triple. It was only recently that I started seriously reading up on this stuff, very confusing but if you can filter most of the crap talk out, it seems silver is the way to go.

Why assume that silver will go up in order to 'correct' the historical ratio?
Wouldn't a fall in gold not have the same outcome?

Did your 'serious reading' reveal any reasons why the ratio might not revert to traditional positions?

coolabuaile

Lplated wrote: »

coolabuaile wrote: »

I would recommend you spend 10% of your savings on silver. The historical price ratio between gold and silver is 1:16. Right now it's more like 1:60! I spent a small few euro on silver by sheer fluke 5 years ago and have seen my investment triple. It was only recently that I started seriously reading up on this stuff, very confusing but if you can filter most of the crap talk out, it seems silver is the way to go.

Why assume that silver will go up in order to 'correct' the historical ratio?
Wouldn't a fall in gold not have the same outcome?

Did your 'serious reading' reveal any reasons why the ratio might not revert to traditional positions?

Yes. The physical quantities of gold available, the cost of mining poorer and poorer grade ores as time goes by and more demand for physical metals as opposed to bonds got me thinking. Investers may be turning to silver, platinum etc as well as gold. I'm just an inquisitive amateur who finds this interesting. Oh also quantative easing and the impact this has had across the globe historicaly is keeping gold prices high as it is used as currency. Silver isn't but who is to say this won't change? In answer to your 'question', Prices will, I think, go back to what they were in a few years. Do you see this happening sooner?

Lplated

coolabuaile wrote: »

In answer to your 'question', Prices will, I think, go back to what they were in a few years. Do you see this happening sooner?

I have no set opinion to be honest, I was merely questioning the certainty of your pronouncement, and in particular trying to point out that if, as you seem to assume, the traditional ratio will eventually be restored, there are three ways for that to happen - 1) gold comes down, 2) silver goes up, 3) a combination.

In addition also there may be factors which will result in the traditional equation never being met again.

Oh, and btw - have you considered what would happen to your equation should any of the central banks around the world, who presently hoard a significant % of their reserves in gold, either decide to change that or be forced to change that through economic circumstances?

stackerman

Oh dear, here we go again.
Seeing as we are on the "have you considered" route
Have you considered what will happen

- once interest rates go negative ? ie your charged to store your money.

- once people realise that their pensions are worthless

- once the pension funds realise they need PM's

- once Gold becomes tier one capital again

- once Germany has cleared all their Bank exposure from the Greek Market and turns the tap off

This mess can't be fixed, and will result in high (higher) inflation at the least. If you have young kids, and can afford to - put their children's allowance into PM's. It will cover most of their education (IMHO).

coolabuaile

I do believe that we are suffering a slow financial death here and you don't have to be a trading or currency guru to know that; open a history book. Plant the spuds, buy the metals and hang on tight (in slow motion)

Low Energy Eng

It's much more politically friendly to keep pumping the system up than to let the cards fall where they may...
Not sure if this has been posted but UBS issued their thoughts on hyperinflation risks a while ago:

http://www.zerohedge.com/news/ubs-issues-hyperinflation-warning-us-and-uk-calls-it-purely-fiscal-phenomenon

Personally I think the odds are rising, debts are increasing, deflation is still rampant, a lot of bad global economic news released lately... I'll keep a close eye on the news for the time being

Lplated

stackerman wrote: »

Oh dear, here we go again.
Seeing as we are on the "have you considered" route

This mess can't be fixed, and will result in high (higher) inflation at the least. If you have young kids, and can afford to - put their children's allowance into PM's. It will cover most of their education (IMHO).

I think you misunderstand the purpose/intent of my questions.

Poster, with 2 posts at the time, appears from nowhere with advice to stick 10% of your cash into something he thought was a good idea.

He could be the next Messiah of investment for all i know, or he could be a shill or he could be clueless. Its hard to tell, with just 2 posts.

It is implicit in his post that the gold/silver ratio will return to historical amounts - but he didn't cite any reasons/research for being so sure that that would be the case.

Letting that slip, he also failed to attempt to explain why the rebounding of the ratio could only happen in one way, when mathematically there are three ways for it to happen.

I wish him well with his investment, but just thought that its worth it, for those who randomly read these kind of threads, to be aware that other possibilities exist.

Lplated

stackerman wrote: »

Oh dear, here we go again.
Seeing as we are on the "have you considered" route
Have you considered what will happen

- once interest rates go negative ? ie your charged to store your money.

- once people realise that their pensions are worthless

- once the pension funds realise they need PM's

- once Gold becomes tier one capital again

- once Germany has cleared all their Bank exposure from the Greek Market and turns the tap off

This mess can't be fixed, and will result in high (higher) inflation at the least. If you have young kids, and can afford to - put their children's allowance into PM's. It will cover most of their education (IMHO).

It's hardly a secret the economy of ireland, europe and perhaps further afield is in serious sh*t.

It's a rather large jump though from what you've posted there to the other guys 'lets all put 10% into silver'.

coolabuaile

OfflerCrocGod wrote: »

Gold is risk. It's been following all the other commodities in a downward direction.

Risk is not undervalued if the world is plunged into a 1930's Great Depression.

So true, and there's risk attached to everything in life. Someone recently questioned the reason why I suggested a 10% investment in silver. It's because you should never put all your eggs in the one basket. Try a little bit of everything, be more self sufficient. I may not be right in everything I do but I know I won't go hungry and I know I have something to barter with. Isn't that what it all boils down to? It's not about getting rich on the world's misery, it's about being able to take care of yourself and your family if the worst comes to the worst. Nothing wrong with a little caution whilst remaining optomistic!:)

coolabuaile

Lplated wrote: »

I have no set opinion to be honest, I was merely questioning the certainty of your pronouncement, and in particular trying to point out that if, as you seem to assume, the traditional ratio will eventually be restored, there are three ways for that to happen - 1) gold comes down, 2) silver goes up, 3) a combination.

In addition also there may be factors which will result in the traditional equation never being met again.

Oh, and btw - have you considered what would happen to your equation should any of the central banks around the world, who presently hoard a significant % of their reserves in gold, either decide to change that or be forced to change that through economic circumstances?

Read what you quoted carefully. That is the answer to your question. In layman's terms, the price of precious metals will of course fall again, but not just yet. Not as long as we hear the words quantitive easing in the news. All I am saying is that it's worth anyone's while to put a little of their savings into physical metals. It appears that you are taking offence to whatever I post. I didn't mean to offend or anger you in any way.

Lplated

coolabuaile wrote: »

Read what you quoted carefully. That is the answer to your question. In layman's terms, the price of precious metals will of course fall again, but not just yet. Not as long as we hear the words quantitive easing in the news. All I am saying is that it's worth anyone's while to put a little of their savings into physical metals. It appears that you are taking offence to whatever I post. I didn't mean to offend or anger you in any way.

To be fair that isn't what you said at all. You specifically said to lump money into silver on the basis its price would rise to meet a historical ratio with the price of gold.

I was merely questioning the reasoning behind your assumptions, I'm not in the least offended.

grover_green

silver is not a ( currency ? ) in the way some say gold is , its value largely depends on industrial demand , it went along for the ride with gold for a few years there but has since decoupled somewhat , its at $30 at the moment and was close to $ 24 not so long ago , it went to almost $ 50 dollars in may 2011 then collapsed overnight , its a metal which is incredibly maniplulated from a price POV , demand is slowing from an industrial POV and its unlikely to shadow gold in its continual rise to any large degree

i would not be amazed to see gold @ $ 2500 within five years , i would be utterly astounded to see silver @ 75 and surprised to see it past $ 50

gold is a much better bet

DarkDusk

grover_green wrote: »

silver is not a ( currency ? ) in the way some say gold is , its value largely depends on industrial demand , it went along for the ride with gold for a few years there but has since decoupled somewhat , its at $30 at the moment and was close to $ 24 not so long ago , it went to almost $ 50 dollars in may 2011 then collapsed overnight , its a metal which is incredibly maniplulated from a price POV , demand is slowing from an industrial POV and its unlikely to shadow gold in its continual rise to any large degree

i would not be amazed to see gold @ $ 2500 within five years , i would be utterly astounded to see silver @ 75 and surprised to see it past $ 50

gold is a much better bet

Silver didn't "collapse" overnight, there was a price correction - big difference. Silver and gold manipulation will not last forever - it can't.

Silver has been outperforming gold in recent times which I think will happen for the short-medium term but gold will begin to outperform after that.

If I had to give advice to anyone, don't be left exposed to the coming world economy collapse by holding paper money. At least have some money in real tangible assets such as gold, silver and land. Your pension would be totally wiped away but you still have gold, silver and land. Silver is great for the majority of people who don't have a large sum to invest, compared to gold's expensive price.

I can't believe that some people were saying that the dollar is a safe-haven currency. Are you taking the p!ss?! Seriously, the only reason why Bennie Bernanke keeps printing money is because he knows there will be demand for it when people buy oil. When the Petrodollar collapses, which I think could have in less than 2-3 years time, the dollar collapse. The world's monetary system is complete bullsh!t. Imagine that the US can print money to buy oil, and the country that sold the oil are obliged to invest their profits in US Bonds! Double the fun for the US, but double the trouble when the likes of Iran, Iraq and Saudi Arabia decide to refuse dollars for the oil. Now this is only one reason why the dollar is sure to collapse, and seen as every currency in the world is based on the dollar there will be a world economic collapse. China are buying gold and silver, hoping that they will be able to back their currency buy PM's when something like this happens.

That's my rant over, hopefully it's changed the perspective of some people out there.

PaddyTheNth

DarkDusk wrote: »

If I had to give advice to anyone, don't be left exposed to the coming world economy collapse by holding paper money. At least have some money in real tangible assets such as gold, silver and land.

While I take the point that tangible assets are superior in times of turmoil, realistically if things got so bad that markets collapse/governments start appropriating any PM assets in the country, it is not going to be easy for the majority of people to find a market for their gold/silver etc.

Buy land, plant crop, grow cow, build mud hut:pac:

DarkDusk

PaddyTheNth wrote: »

While I take the point that tangible assets are superior in times of turmoil, realistically if things got so bad that markets collapse/governments start appropriating any PM assets in the country, it is not going to be easy for the majority of people to find a market for their gold/silver etc.

Buy land, plant crop, grow cow, build mud hut:pac:

I agree with you on that, but the PM's would have the function of preserving your wealth until things get good again, instead of having no wealth at all.

Great advice at the end I must say! Food water and shelter would be the most valuable assets during a crisis - I have to say that Ireland is much better prepared than >75% of the world in respect to this.

SyntonFenix

http://www.zerohedge.com/contributed/2012-09-19/deutsche-bank-gold-money

http://www.rawstory.com/rs/2011/05/23/utah-gold-standard-silver-currency/

For people who think gold is not a currency or money.