Gold Buying - Page 12

marton · #**221** 07.12.2010, 15:18

	Quote:	ozibird
	Did this get answered? I was looking for similar info and have poured through all 11 wonderful pages. I deduce that there's only VAT if you declare it? I have been reviewing this project for almost a year, slow I know, extracting info from UBS bankers has been a cultural awareness pHD, I now appreciate that I have to ask the right questions and if I don't get an answer it could mean they don;t wnat me to know or that they don't know or that it is an unknown or that I'm an idiot and they don't want to embarrass me. Depsite the price dramas of this planet's wealth standard, I am still hoping to purchase some, though it will probably not be held with UBS, though maybe bought from them. They couldn't believe that I asked whether storage fees inlcuded insurance - it appears they do not insure their gold but, they told me they have lots of secruity guards, they are a Swiss bank! They also told me there is no big difference to London Fix- ha ha ha and so it has taken me along journey to be able to make decisions. I have looked long and cautiously at bullionvault.com, they seem clean, but I don't know....... someone else said you need to be able to touch it quickly and even UBS's individual metal safe custody is not that easy to access if they go bankrupt., While they probably won't, we could be living in the last days when a loaf of bread will cost a bar of gold........maybe I'll open a bakery ...akin to buying farmland.....2012 is soon upon us. any news from the previous contributors on this thread? you have been quiet for a few months I see. Cashboy, Chenzug, Confloozed and Maverick ? thanks in anticipation

search is your friend
Capital Gains Tax - Gold

Uncle GroOve · #**222** 21.12.2010, 14:48

Interesting article on Bloomberg re. the story behind the creation of the SPDR Gold ETF (the world's biggest listed gold investment vehicle):
Soros Gold Bubble at $1,384 as Miners Push Buttons

http://noir.bloomberg.com/apps/news?...d=aTiDUAOynrT8

Paul

marton · #**223** 21.12.2010, 15:34

	Quote:	Uncle GroOve
	Interesting article on Bloomberg re. the story behind the creation of the SPDR Gold ETF (the world's biggest listed gold investment vehicle): Soros Gold Bubble at $1,384 as Miners Push Buttons http://noir.bloomberg.com/apps/news?...d=aTiDUAOynrT8 Paul

Interesting

I will cling to this quote in the article
" “It’s all a question of where are you in that bubble,” Soros, 80, said in a speech at a meeting organized by the Canadian International Council in Toronto on Nov. 15. “The current conditions of actual deflationary pressures and fear of inflation is pretty ideal for gold to rise.” "

Does make me worry about ETFs a bit

Marton

p42 · #**224** 27.12.2010, 20:18

I note that Eurex have started gold options and futures contracts, middle of 2009.

http://www.eurexchange.com/about/pre...ss_616_en.html

It doesn't look like Swissquote list them at the moment. Anyone have ideas how to trade them cost effectively as an individual?

Uncle GroOve · #**225** 27.12.2010, 20:54

	Quote:	p42
	I note that Eurex have started gold options and futures contracts, middle of 2009. http://www.eurexchange.com/about/pre...ss_616_en.html It doesn't look like Swissquote list them at the moment. Anyone have ideas how to trade them cost effectively as an individual?

Not much OI in those contracts.
Do you want to *trade* or *hedge*?

P.

karun · #**226** 27.12.2010, 21:55

Hi,

You can also buy gold from main branches of credit suisse bank ..They offer gold biscuits at international rates which varies at every minute..

here i am sharing to check the gold price for your information...

http://www.kitco.com/market/sf_charts.html

hope this information is useful for you...

Tom73 · #**227** 27.12.2010, 22:04

You also could get Gold ETF from ZKB. For coins and chips you pay a lot spread.

p42 · #**228** 28.12.2010, 10:33

Thanks for the advice on ETFs, and physicals. I'm really interested in futures. If I enter a futures contract, I have no (significant) problems with lost interest on capital invested (I only pay 1/10th of the deliverable value as initial margin), no VAT, storage, or worries about ETF's that don't track the physical properly in extreme circumstances. With options I suffer time decay, and larger spreads on longer dated options.

So I am still looking for an inexpensive way to enter into a futures contract.

Uncle GroOve · #**229** 28.12.2010, 10:50

	Quote:	p42
	Thanks for the advice on ETFs, and physicals. I'm really interested in futures. If I enter a futures contract, I have no (significant) problems with lost interest on capital invested (I only pay 1/10th of the deliverable value as initial margin), no VAT, storage, or worries about ETF's that don't track the physical properly in extreme circumstances. With options I suffer time decay, and larger spreads on longer dated options. So I am still looking for an inexpensive way to enter into a futures contract.

Well, in the current low interest rate environment you're not really losing that much. However - if your cash is tied up somewhere else you obviously don't want to have to disinvest it in order to buy gold on a cash basis.

Why dont you buy it on a FWD basis? From experience you can get fwd quotes in both XAUCHF and XAUEUR. Indicative FWD points are CHF 2.50, Eur 5.00 (both per ounce basis) for 6 mths delivery.
At maturity you can opt to rollover or to take delivery.

Ciao

P.

phdoofus · #**230** 28.12.2010, 11:08

	Quote:	Cashboy
	As I have stated, Gold is too high at the moment, but if everything crashes, Gold may then seem to have been cheap.

If everything crashes, what are you going to be buying gold with?

Valtsu · #**231** 28.12.2010, 11:23

What about selling physical gold? I read in earlier topics, that banks often buy only gold they sold earlier.

Uncle GroOve · #**232** 28.12.2010, 11:38

	Quote:	Valtsu
	What about selling physical gold? I read in earlier topics, that banks often buy only gold they sold earlier.

If you have your UBS ingots / biscuits take them back to UBS... but in my experience you should not have any problems at all to sell properly stamped / certified pieces at any of the main banks.

P.

Valtsu · #**233** 28.12.2010, 11:44

	Quote:	Uncle GroOve
	If you have your UBS ingots / biscuits take them back to UBS... but in my experience you should not have any problems at all to sell properly stamped / certified pieces at any of the main banks. P.

Thank you. Gold is a long term deposit (I'd rather not saying it an investment), so I do no know if UBS will be around, when I want to sell.

Uncle GroOve · #**234** 28.12.2010, 11:49

Your ingots will bear a stamp (i.e. Argor) that shows where they where minted.
If anything you can always have them essayed (for a fee).
And if the brown stuff hits the fan...well then we'll resort to the old methods of biting, scraping, etc :-)
Just make sure you don't walk to the local market with 1 kg pieces... it could be your last shopping trip ever!

Just saying

P.

Valtsu · #**235** 28.12.2010, 16:41

I got one 1 oz coin in Finland. No stamps, certificates, just a coin in capsule and a receipt. I guess it will be an interesting occasion when I'll try to sell it. "Biting and scraping..." yea, sure! Maybe I just keep it...

Interestingly, in SHTF* scenario 99,999 gold have a price of 50% or so, because people in the market close to your house can't really check the purity. So they offer you the price they pay for a 20 years old golden ring. This is basing on tales from Argentina.

*SHTF = ... hits the fan.

marton · #**236** 13.01.2011, 16:03

Got excited for a moment when I checked today's gold price in Tagesanzeiger but I think over one third of a million CHF per Kg might be a mistake

dino · #**237** 25.01.2011, 11:33

hmmm... this thread has gone rather quiet

I'm short XAUUSD, so happy to see it fall over $100 from its recent peaks.

I doubt this is the big one, but sooner or later, Gold has to retract to more sane levels....

Uncle GroOve · #**238** 25.01.2011, 12:00

	Quote:	dino
	hmmm... this thread has gone rather quiet I'm short XAUUSD, so happy to see it fall over $100 from its recent peaks. I doubt this is the big one, but sooner or later, Gold has to retract to more sane levels....

haha.. .here goes another speculator!

I agree... with the new Euro-Bond being heavily subscribed (40 bln euro @ mid swaps + 6bps!!) the gold=insurance theme gets kicked down a couple of notches. Unless USD takes a nice fall XAU weakness looks here to stay for now...

P.

Phil_MCR · #**239** 25.01.2011, 12:01

	Quote:	marton
	Got excited for a moment when I checked today's gold price in Tagesanzeiger but I think over one third of a million CHF per Kg might be a mistake

that was just the price i got from my sale

carver · #**240** 25.01.2011, 12:17

	Quote:	dino
	hmmm... this thread has gone rather quiet I'm short XAUUSD, so happy to see it fall over $100 from its recent peaks. I doubt this is the big one, but sooner or later, Gold has to retract to more sane levels....

When did you go short? This morning?