Time to buy Gold?

[twinturboz]

Don't like the long setup? Mind you bit hard to chase it up here now.

Long from 1214.40 just going to trail a stop on this the whole way up and see if it gets to that 1350-1400.



I suck as a long term trader no patience, back to the short side.

Edited by twinturboz on Friday 26th February 13:36

[LaurasOtherHalf]

Anyone buying Gold as a physical object these days?

[Revisitph]

Scootersp said:

If you were a Syrian refuge right now walking out of your country leaving all your possessions behind, then a kilo of gold would really help out wherever you end up.

Worth ~ £30k and it would be easy to conceal - amazingly a 1kg bar is 80 x 40 x 18mm, so presumably, so long as you had good a**l tone it could be hidden even if naked.

[sealtt]

Buy it, can't see the world getting any more stable any time soon and it's not as if the supply of paper money is reducing... gold looks good to me.

The Information is not intended to be and does not constitute financial advice or any other advice, is general in nature and not specific to you.

[anonymous-user]

sealtt said:

Buy it, can't see the world getting any more stable any time soon and it's not as if the supply of paper money is reducing... gold looks good to me.

The Information is not intended to be and does not constitute financial advice or any other advice, is general in nature and not specific to you.

Surely buying gold is more of an insurance policy against uncertainty than an out and out investment? Have to say, I quite like the idea of having a few OZ tucked away for a rainy day. Minted 1 OZ bars look nice, but the protective plastic sleeves they are in means you just put them in a draw and forget about them. Cast bars on the other hand are lovely to hold, nothing like holding a cast OZ of gold (about the size of the end of an ipod ear bud) in your hand and thinking "This is worth £950"

Almost as liquid as cash, you can sell them for spot in a couple of minutes and walk away with your cash if need be.

Making me think about stacking again now!

The way the government is trying to phase out cash, it is a good way of storing money out of the bank.

[DonkeyApple]

Joey Deacon said:

Almost as liquid as cash, you can sell them for spot in a couple of minutes and walk away with your cash if need be.

At what price though? Anywhere near market? No. massive cost to selling. As lots of punters are learning after the binge of spank shops setting up to flog any old gold tat have been learning now their bubble has burst. Most of the vendors have long since shut up shop and they never exactly rushed to explain the true cost of holding as physical outside of a recognised depository.

[anonymous-user]

DonkeyApple said:

Joey Deacon said:

Almost as liquid as cash, you can sell them for spot in a couple of minutes and walk away with your cash if need be.

At what price though? Anywhere near market? No. massive cost to selling. As lots of punters are learning after the binge of spank shops setting up to flog any old gold tat have been learning now their bubble has burst. Most of the vendors have long since shut up shop and they never exactly rushed to explain the true cost of holding as physical outside of a recognised depository.

I have only bought gold in Melbourne but there are any number of shops where you can sell your gold at spot. Spot price is the current price as displayed on http://goldprice.org/

You normally buy at spot + premium, usually an extra $50 per OZ and you can sell at spot.

I don't understand how it could be any easier.

[sealtt]

Joey Deacon said:

Surely buying gold is more of an insurance policy against uncertainty than an out and out investment? Have to say, I quite like the idea of having a few OZ tucked away for a rainy day. Minted 1 OZ bars look nice, but the protective plastic sleeves they are in means you just put them in a draw and forget about them. Cast bars on the other hand are lovely to hold, nothing like holding a cast OZ of gold (about the size of the end of an ipod ear bud) in your hand and thinking "This is worth £950"

Almost as liquid as cash, you can sell them for spot in a couple of minutes and walk away with your cash if need be.

Making me think about stacking again now!

The way the government is trying to phase out cash, it is a good way of storing money out of the bank.

I personally think the UK is looking weak, Brexit presents a lot of big downside risk, so the play is going short GBP but you don't really want to be long USD right now with the political circus going on over there, so go to gold, as it trades vs usd it is a bet against GBP and an insurance against any surprises in USD.

(If your native currency is GBP of course, not sure if you are in Australia which would mean that wouldn't really work as a play against GBP)

Edited by sealtt on Tuesday 10th January 08:07