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  #61  
Old 17.08.2010, 19:27
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Re: Gold Buying

i bought gold coins several times from Baird & Co and there was no VAT, only % commission/profit on the market rate
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  #62  
Old 17.08.2010, 22:03
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Re: Gold Buying

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I think that you will find that there are a lot more IOU notes for Gold than actual physical Gold.
When you lend someone money and they give you an IOU note; try giving your IOU note and ask for your money back when they haven't any money or they inform you they have gone personally bankrupt.
Last time I did an internet Google search the figure I found was 100 IOU notes for the equivalent physical gold weight of one IOU note. This figure came from a CFTC hearing in March this year (that does not necessarily make it a true figure).
US Congress created the Commodity Futures Trading Commission (CFTC) in 1974 as an independent agency with the mandate to regulate commodity futures and option markets in the United States.

Of course there are firms who claim to back their IOU notes with real gold but how can simple people like us verify such claims?
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  #63  
Old 17.08.2010, 23:19
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Re: Gold Buying

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i bought gold coins several times from Baird & Co and there was no VAT, only % commission/profit on the market rate
Currency coinage is exempt from VAT. Roman coins carry VAT
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  #64  
Old 17.08.2010, 23:26
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Re: Gold Buying

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Where do you get this from? Baird & Co for example sell them! and of course buy them...
Mehdi Bakhordar, managing director of PAMP, said: "Harrods stock our full range and are now the only location in London where investors can purchase a 12.5 kg gold bar 'off the shelf'."

http://www.telegraph.co.uk/finance/p...irst-time.html
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  #65  
Old 31.08.2010, 12:06
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Re: Gold Buying

http://thehill.com/blogs/blog-briefi...-gold-reserves

you gotta like this guys perseverance.....
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  #66  
Old 18.09.2010, 17:28
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Re: Gold Buying

Just looking at this thread I started in July 2009.
I wish I hadn't thought that I needed the cash to start a business (which I haven't done either) and had bought the gold.

Today it is close to US$1,300 and this was an item on CNBC.

http://www.cnbc.com/id/15840232?video=1593393251&play=1

I still think the only way to hold it is physically and not with bits of paper (ETAs)

Anyone have views on Gold at the moment?
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  #67  
Old 18.09.2010, 20:16
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Re: Gold Buying

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Just looking at this thread I started in July 2009.
I wish I hadn't thought that I needed the cash to start a business (which I haven't done either) and had bought the gold.

Today it is close to US$1,300 and this was an item on CNBC.

http://www.cnbc.com/id/15840232?video=1593393251&play=1

I still think the only way to hold it is physically and not with bits of paper (ETAs)

Anyone have views on Gold at the moment?
Today in the Press; "Michael Lewis, head of commodities research at Deutsche Bank, said the rally had “further to run”, forecasting that bullion could hit $1,600 an ounce in two years, “given favourable interest rate and exchange rate trends and the appearance of new sources of demand for gold from both the private and public sectors”."

No idea if he is correct
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  #68  
Old 18.09.2010, 22:36
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Re: Gold Buying

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Just looking at this thread I started in July 2009.
I wish I hadn't thought that I needed the cash to start a business (which I haven't done either) and had bought the gold.

Today it is close to US$1,300 and this was an item on CNBC.

http://www.cnbc.com/id/15840232?video=1593393251&play=1

I still think the only way to hold it is physically and not with bits of paper (ETAs)

Anyone have views on Gold at the moment?
i bought gold at $600 and sold at $1000. i think gold has more to run and could yet double in price (or more).

but my main concerns are:

- impact if IRs rise. cost of 'carrying' gold will increase
- how much did investment funds buy and when will they liquidate

overall, i think there's a lot more currency revulsion yet to come which will keep prices high. i don't see any immediate trigger which would cause gold to drop significantly.

silver may be a slightly cheaper bet at present.
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  #69  
Old 19.09.2010, 05:27
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Re: Gold Buying

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i bought gold at $600 and sold at $1000. i think gold has more to run and could yet double in price (or more).

but my main concerns are:

- impact if IRs rise. cost of 'carrying' gold will increase
- how much did investment funds buy and when will they liquidate

overall, i think there's a lot more currency revulsion yet to come which will keep prices high. i don't see any immediate trigger which would cause gold to drop significantly.

silver may be a slightly cheaper bet at present.
I don't see their being a cost in keeping physical gold except ones annual Chf 32 cost for a safety deposit box in Switzerland. One could even argue that if you don't declare it on your Swiss Tax Return, you save Wealth Tax.

What would be interesting to see is the amount of ETFs issued for gold against actual physical gold.
This makes me think that there will not be an issue regarding gold bought by Investment funds as they appear to be mainly holding ETAs.

Gold ETAs is where I expect the disaster to come. It could be a bit like the "Money is Debt" scenario.

Once the Quantitive Easing starts again (inevitable in the USA), the price of gold will surely go up.
But is the price of gold going up or the dollar value going down and hence more dollars required to buy the same lump of gold if you compare the price of gold to say the Swiss franc over the last five years?
Note how 5 year increase in price in US Dollars is 177% while in Swiss Francs only 121% becuase the value of the dollar has fallen against the Swiss Franc basically.








Silver has increased at a higher rate than gold of recent.
I would still think Gold would be a better buy than Silver as less of the physical stuff and known as the metal to have in the common world.
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  #70  
Old 19.09.2010, 08:09
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Re: Gold Buying

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I don't see their being a cost in keeping physical gold except ones annual Chf 32 cost for a safety deposit box in Switzerland. .

thats cheap, ubs charges about 90 for the smallest box
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  #71  
Old 19.09.2010, 08:19
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Re: Gold Buying

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thats cheap, ubs charges about 90 for the smallest box
I pay Chf 32 per annum with the Raiffeisen in Ticino.
It is I would guess about 400mm x 300mm x 100mm in size.

I can afford the box; just nothing to put in it
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  #72  
Old 19.09.2010, 08:25
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Re: Gold Buying

ok, the UBS one is about the same size but about 50mm high.
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  #73  
Old 19.09.2010, 08:27
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Re: Gold Buying

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I pay Chf 32 per annum with the Raiffeisen in Ticino.
It is I would guess about 400mm x 300mm x 150mm in size.
Nice. Credit Suisse charges 100 SFr. for each
of their three smallest boxes (the third one is
actually pretty big).
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  #74  
Old 19.09.2010, 10:41
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Re: Gold Buying

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I don't see their being a cost in keeping physical gold except ones annual Chf 32 cost for a safety deposit box in Switzerland. One could even argue that if you don't declare it on your Swiss Tax Return, you save Wealth Tax.

What would be interesting to see is the amount of ETFs issued for gold against actual physical gold.
This makes me think that there will not be an issue regarding gold bought by Investment funds as they appear to be mainly holding ETAs.

Gold ETAs is where I expect the disaster to come. It could be a bit like the "Money is Debt" scenario.

Once the Quantitive Easing starts again (inevitable in the USA), the price of gold will surely go up.
But is the price of gold going up or the dollar value going down and hence more dollars required to buy the same lump of gold if you compare the price of gold to say the Swiss franc over the last five years?
Note how 5 year increase in price in US Dollars is 177% while in Swiss Francs only 121% becuase the value of the dollar has fallen against the Swiss Franc basically.

Silver has increased at a higher rate than gold of recent.
I would still think Gold would be a better buy than Silver as less of the physical stuff and known as the metal to have in the common world.
About "the amount of ETFs issued for gold against actual physical gold."
I read somewhere that the amount of gold based paper around is about 100 times the amount of physical gold. Sounds like a disaster waiting to happen

About "is the price of gold going up or the dollar value going down" you need to define what you mean by the price of gold.
If you mean the price in Swiss francs then over the last year it has risen about 25% but in the last 3 months it has fallen by about 10%. So if you had sold the gold that you bought 1 year ago about 3 months ago then you would have been about 35% up (all round figures).
So basically the answer to your question is both. The price of gold is going up faster than the dollar is going down when averaged over 1 year.

Buying gold today with us$? may well be a good idea.
Buying gold today with Swiss Francs? dunno' !
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  #75  
Old 19.09.2010, 12:25
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Re: Gold Buying

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I don't see their being a cost in keeping physical gold except ones annual Chf 32 cost for a safety deposit box in Switzerland.
opportunity cost. traditionally, if you held gold, you'd be missing on 5% return p.a. on currency and have the storage/insurance costs.

the fact that IRs have dropped to zero has made gold more attractive. together with the those fearing inflation/currency devaluation.
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  #76  
Old 19.09.2010, 12:52
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Re: Gold Buying

It is a tradition in Turkey to buy gold. The Turkish Lira was such a trouble money the only way to hold on the savings was by having gold. It is still a very common thing to do and always the favorite choice for gift.

Right now the gold is very expensive so it is not the best time at all to buy.

I got few of those bracelet and since I got them, they went up 3x their values.



How cool is that, a woman gets some jewels and it is an investment in the same time! Pretty good reason to spoil her!
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  #77  
Old 21.09.2010, 16:34
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Re: Gold Buying

do UBS also sell silver?
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  #78  
Old 21.09.2010, 17:18
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Re: Gold Buying

yes, also platinum and palladium
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  #79  
Old 22.09.2010, 12:22
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Re: Gold Buying

Hi every body

Please can anybody explain to me how to buy gold onus? I do not know anything about this matter, I only have a small amount of money and to avoid spending it on shoes and bags, I am thinking about buying a gold onus. Where is the best place to buy it? Any advice is more than welcome !!!!
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  #80  
Old 22.09.2010, 12:26
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Re: Gold Buying

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About "the amount of ETFs issued for gold against actual physical gold."
I read somewhere that the amount of gold based paper around is about 100 times the amount of physical gold. Sounds like a disaster waiting to happen

!
Isn't is so that ETFs must have same amount in phys. metal, and even be prepared to deliver in case someone wants it!?
Check for ex. ZKB metal site.
Maybe your statis. is interpreted differently, like amount of dealing of ETF is much more than buying phys. one.
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