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  #241  
Old 25.01.2011, 12:48
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Re: Gold Buying

1310 level... so not making any money yet, just recovering paper losses..
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  #242  
Old 25.01.2011, 12:54
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Re: Gold Buying

It looks like a pretty solid downtrend for the past 30 days, so should go down through your opening price pretty soon.
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  #243  
Old 25.01.2011, 15:53
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Re: Gold Buying

From my personal experience this is the best place to sell your physical
Gold, silver...

Call them and ask them for the current price and call the UBS straight after and compare...

pro aurum Schweiz AG
Weinbergstrasse 2
8802 Kilchberg ZH
Telefon: +41 (0)44 716 5600
Telefax: +41 (0)44 716 5650
eMail: info@proaurum.ch
Web: www.proaurum.ch
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  #244  
Old 27.01.2011, 12:04
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Re: Gold Buying

One of the few people I trust on gold is Marc Faber - because he's on record being very bullish very early in this cycle. I don't see much point in listening to the views of people who didn't see the bull coming in the first place.

An outspoken interview with him where he predicts that this pullback might be 20% of the recent peak (prediction right at end of this clip):

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  #245  
Old 30.01.2011, 13:41
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Re: Gold Buying

Good Daily Bell interview with the Mogambo Guru, who is certainly the most humourous gold bug.
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  #246  
Old 14.02.2011, 20:50
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Re: Gold Buying

Am still trying to solve VAT question please, several companies say there is no VAT, the forum notes it is free on coins. I have been wading through this link. But can someone who buys gold please tell me if there is 7.6% VAT on the purchase of bar gold say from UBS?

http://www.mwstnetzwerk.com/art-107-mwstg-2010/english-translation-of-article-107-of-the-swiss-vat-act-2010

Also are UBS prices fair? or are they in the price manipulation swag too?
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  #247  
Old 14.02.2011, 21:05
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Re: Gold Buying

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Am still trying to solve VAT question please, several companies say there is no VAT, the forum notes it is free on coins. I have been wading through this link. But can someone who buys gold please tell me if there is 7.6% VAT on the purchase of bar gold say from UBS?

http://www.mwstnetzwerk.com/art-107-mwstg-2010/english-translation-of-article-107-of-the-swiss-vat-act-2010

Also are UBS prices fair? or are they in the price manipulation swag too?
The no-vat-on-investment-gold law/rule is an EU one. Hence all investment gold *you buy in the EU* is VAT free. Swiss (extra EU) gold buying may be different. I'd be interested to know if this was true.

If I was charged VAT to buy gold in switzerland, I'd buy it in the EU and import it in a car. Never heard of a gold sniffing dog.

edit: your link appears to imply no VAT for investment gold coins in CH either. Would have thought it pretty easy - if you're getting charged more than 5-10% over spot for generic coins { http://www.kitco.com/ - scroll down to bottom of page and choose currency }, you're getting ripped off *unless your dealer can prove you're paying an extra VAT component*

2nd edit: from your link, "gold in the form of clippings and scrap" is even exempt, which is even more lax than the EU law. You should never pay more than 10% over spot except for numismatics without a *very* good reason.

Last edited by carver; 14.02.2011 at 21:15.
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  #248  
Old 14.02.2011, 21:09
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Re: Gold Buying

There's no VAT on gold bars and coins.
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  #249  
Old 14.02.2011, 21:38
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Re: Gold Buying

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I have clients that are worried about the long term real value of cash.

We have looked at what we would term "Gold on Paper" but not even so sure of the security of these companies that offer that service and there are paper work transactions.

With the USB and USA government fiasco on banking secrecy; governemnet monitoring of money transactions with the excuse of "preventing terrorism", inevitable tax rises; likely taxes on wealth(capital) in USA and UK in the future, we are looking at alternative security of wealth.

They are therefore looking at Gold to be kept in safe deposit boxes that is accessable by members of their family etc etc.
That was the reason I was asking about safe deposit boxes held in the names of companies as opposed individuals in another posting.

Gold is very high at the moment but expect it to fall in August and perhaps buy in September when all the traders, bankers come back from holiday and realsise the real state of the economy.
Diamonds are a lot easier to carry, conceal and smuggle.
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  #250  
Old 14.02.2011, 21:47
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Re: Gold Buying

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Diamonds are a lot easier to carry, conceal and smuggle.
Far harder than gold to value, though - they're subjective. Armageddon currency would probably be platinum over everything for it's value:volume ratio (or taking it to an extreme, rhodium) - but if anyone has to run from Switzerland with valuables, it is probably game over.
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  #251  
Old 14.02.2011, 22:14
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Re: Gold Buying

I have 5 grams gold with UBS stamp , can they buy it from me ? should i go to UBS at the bahnhofstrasse ?
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  #252  
Old 14.02.2011, 22:32
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Re: Gold Buying

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I have 5 grams gold with UBS stamp , can they buy it from me ? should i go to UBS at the bahnhofstrasse ?
5 grams is about 1/5 of an ounce. The smaller the fraction of an ounce, the higher the markup. If you sell to a bank, they'll pay say 95% of spot, and you'll lose the markup associated with fractionals. You'll do better selling fractionals on ebay or ricardo; you'll then receive at least some of the fractional markup over the spot price.
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  #253  
Old 15.02.2011, 08:26
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Re: Gold Buying

In my research travels I have found this business as well where one can both sell and buy gold: pro aurum Schweiz AG Web: www.proaurum.ch that I will use to compare UBS pricing.

I used to think there was something more assured about using a bank, but I just don't know anymore. All the research in the world still doesn't remove the risk of messing up timing.....anxious cat, but I don't base jump either
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  #254  
Old 16.02.2011, 00:01
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Re: Gold Buying

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5 grams is about 1/5 of an ounce. The smaller the fraction of an ounce, the higher the markup. If you sell to a bank, they'll pay say 95% of spot, and you'll lose the markup associated with fractionals. You'll do better selling fractionals on ebay or ricardo; you'll then receive at least some of the fractional markup over the spot price.
hmm... buy Gold on Ricardo/Ebay? I think not.
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  #255  
Old 16.02.2011, 06:23
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Re: Gold Buying

Selling on Ricardo is no risk, unless it looks like you have a keller full of the stuff. I know people that buy PM on ricardo and they have never complained. It is mainly just ordinary Swiss residents selling small amounts, not wanting to get ripped off on commissions.
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  #256  
Old 24.02.2011, 08:36
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Re: Gold Buying

Mega THANK YOU to this forum for helping me through this minefield. I am very pleased to have something more secure now than paper money. It has been a tedious year because the UBS account mgr gave me many incorrect answers I regret to say. It is diplomatically difficult to set the info right and they never acknowledge that they have made an error or make an effort to progress your goals despite that you have given them a clear plan.......I appreciate that asking the right questions is part of it, like playing battle ship....B1 miss, B2 miss, A2 miss, A5 score etc but from a customer service perspective, I would be wanting to help someone along so that they would invest with my bank and increase my client portfolio etc........I just don't understand.......but I am very thankful to this forum.
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  #257  
Old 07.03.2011, 15:57
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Re: Gold Buying

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One of the few people I trust on gold is Marc Faber - because he's on record being very bullish very early in this cycle. I don't see much point in listening to the views of people who didn't see the bull coming in the first place.

An outspoken interview with him where he predicts that this pullback might be 20% of the recent peak (prediction right at end of this clip):
Are you sure your trust is well placed?
Gold is hitting new record highs even now?
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  #258  
Old 07.03.2011, 16:16
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Re: Gold Buying

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Are you sure your trust is well placed?
Gold is hitting new record highs even now?
Apparently not. Not everybody can be right all the time, and Faber's last newsletter, as always, recommends gradual accumulation of physical.

I've been expecting a pullback for ages - I sold most of my gold equities a few months ago (I did need some cash, though). Never yet sold any physical.

I've been wrong so far; I'd guess that the pullback has been postponed until there is some resolution in the middle east and things calm down a bit. There should be a deflationary scare before they announce QE3, but it's hard to have a deflationary scare when oil is rocketing.

Silver has done even better than gold, the GSR - Gold Silver Ratio - has had a massive move: http://www.goldprice.org/gold-silver...ear_gold_price
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  #259  
Old 07.03.2011, 16:33
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Re: Gold Buying

I don't know how to add images other than as an attachment: gold-buying-chf_usd_xau.jpg (this graph can also be seen by scrolling to the very bottom of this page: http://www.kitco.com/ - clicking on swiss franc, then on 1 year.

From this chart, we can see that gold's strength has lately been dollar weakness - we're still quite a way off all time highs in CHF or GBP. I'd argue that this reflects the USA losing friendly governments in the middle east and the worsening prospects of the petrodollar.
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Old 07.03.2011, 16:35
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Re: Gold Buying

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Apparently not. Not everybody can be right all the time, and Faber's last newsletter, as always, recommends gradual accumulation of physical.

I've been expecting a pullback for ages - I sold most of my gold equities a few months ago (I did need some cash, though). Never yet sold any physical.

I've been wrong so far; I'd guess that the pullback has been postponed until there is some resolution in the middle east and things calm down a bit. There should be a deflationary scare before they announce QE3, but it's hard to have a deflationary scare when oil is rocketing.

Silver has done even better than gold, the GSR - Gold Silver Ratio - has had a massive move: http://www.goldprice.org/gold-silver...ear_gold_price
Yes agreed Silver has had a massive move

Most people seem to be betting on a higher Euro even after the Greek credit rating was downgraded & in Ireland the election was won by the party who want to dismember their financial agreement with the EU.
Keeping my Swiss francs in my pocket seems like the best option today.....!

Marton
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