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Gold

  • 16-05-2012 8:59pm
    #1
    Buzz56
    Registered Users Posts: 18 ✭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.


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Comments

  • #2
    green_island
    Closed Accounts Posts: 7 ✭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


  • #3
    golden lane
    Registered Users Posts: 1,364 ✭✭✭golden lane


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


  • #4
    Lex_Diamonds
    Registered Users Posts: 2,468 ✭✭✭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.


  • #5
    Buzz56
    Registered Users Posts: 18 ✭Buzz56


    golden lane wrote: »
    don't forget any vat etc on transactions.....

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


  • #6
    stackerman
    Registered Users Posts: 1,241 ✭✭✭stackerman


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

    See PM Buzz


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  • #7
    Highnoon
    Registered Users Posts: 132 ✭✭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?


  • #8
    inda_kenny
    Closed Accounts Posts: 42 ✭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


  • #9
    Highnoon
    Registered Users Posts: 132 ✭✭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?


  • #10
    kermit_the_dog
    Banned (with Prison Access) Posts: 159 ✭✭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


  • #11
    buck65
    Closed Accounts Posts: 4,969 ✭✭✭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.


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  • #12
    euroboom13
    Registered Users Posts: 650 ✭✭✭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


  • #13
    OfflerCrocGod
    Registered Users Posts: 6,294 ✭✭✭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.


  • #14
    euroboom13
    Registered Users Posts: 650 ✭✭✭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:...


  • #15
    Jim2007
    Moderators, Business & Finance Moderators Posts: 9,981 Mod ✭✭✭✭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...


  • #16
    SyntonFenix
    Closed Accounts Posts: 620 ✭✭✭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.


  • #17
    consultan
    Site Banned Posts: 12 ✭consultan


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


  • #18
    euroboom13
    Registered Users Posts: 650 ✭✭✭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).......


  • #19
    consultan
    Site Banned Posts: 12 ✭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


  • #20
    paul_mcshane
    Registered Users Posts: 43 ✭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


  • #21
    Low Energy Eng
    Registered Users Posts: 297 ✭✭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


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  • #22
    FISMA
    Closed Accounts Posts: 2,616 ✭✭✭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.


  • #23
    kermit_the_dog
    Banned (with Prison Access) Posts: 159 ✭✭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


  • #24
    digitally-yours
    Registered Users Posts: 1,425 ✭✭✭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 :D

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


  • #25
    FISMA
    Closed Accounts Posts: 2,616 ✭✭✭FISMA


    digitally-yours wrote: »
    Keep Buying sir :) I need someone to take my other side :D

    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?


  • #26
    Roonbox
    Registered Users Posts: 498 ✭✭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?


  • #27
    stackerman
    Registered Users Posts: 1,241 ✭✭✭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 . . . .


  • #28
    digitally-yours
    Registered Users Posts: 1,425 ✭✭✭digitally-yours


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

    ;)


  • #29
    FISMA
    Closed Accounts Posts: 2,616 ✭✭✭FISMA


    digitally-yours wrote: »
    Taking small profits on Gold Short here from 1622 :D
    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...


  • #30
    Roonbox
    Registered Users Posts: 498 ✭✭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


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  • #31
    euroboom13
    Registered Users Posts: 650 ✭✭✭euroboom13


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


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