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If you buy gold...

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Does a van pull up out the front of your house and the back doors open and a man with a gun on his hip get an ingot out and bring it to your front door?
Silly question I know but i've heard that all you get is paper to say you own gold, well if thats true then thats ridiculous, currently at home with the flu and have been reading some scary stuff re the financial system today and the 'buy gold' idea doesn't sound as safe as many think.
 
jozeph said:
Does a van pull up out the front of your house and the back doors open and a man with a gun on his hip get an ingot out and bring it to your front door?
Silly question I know but i've heard that all you get is paper to say you own gold, well if thats true then thats ridiculous, currently at home with the flu and have been reading some scary stuff re the financial system today and the 'buy gold' idea doesn't sound as safe as many think.
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No - you can physically buy gold bars & coins if you want. If you go to the Perth Mint & pay in cash you can walk out with Gold on the spot. If you pay by cheque (including bank cheque) - It takes 7 working days to clear - Plus you need 100 points for id. After 7 days you can pick it up.

There is also the 'paper' option as you mentioned where the Gold is kept at the mint. There is a slightly more expensive option where they physically place your gold in their vaults ...
 
If you don't want to buy a gold ETF but still want exposure to gold, consider holding stocks in a gold mining company, such as Lihir Gold. Sign up for a online broker such as Commsec or Etrade.
 

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James23 said:
**** buying anything on the stock market in the current conditions.

Physical gold or its nothing IMO.
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Yeah. I bought stocks in Lihir but now I wish I just bought gold. I live in Sydney and don't know the best place to get it from. Does anyone know?
 
yes I have my own bars at Perth mint...bought them in Feb 07. I'd like to thank Digg.com for alerting me to the current 'crisis' back then.
 
Possibly because in times of recession/depression the price of gold generally goes up. And with central banks around the world printing money as though it's Monopoly money inflation could well go sky high. Gold will increase in value whereas the money in your bank account will decrease in value. That's one of my major concerns about the USA's $700bn bailout.
 
gold is confused right now... I'm sure that technically gold is the hedge against inflation.... and in actual fact it does not "boom" in recession/depression... although it can hold value. My reading is that all the measures they put in place to kickstart the economy in the end turn out to be inflationary... which is when the power of gold kicks in.

But the markets loathe gold... investing in gold right now takes nerves in a way because right now you basically have every central bank and government in the world effectively throwing paper money in the system to keep gold down...

much as I am not a fan of his climate scepticism... Dr David Evans of 60 minutes climate sceptic fame runs a site www.goldnerds.com that could well guide you to lucrative profits in the gold/inflation cycle. kitco.com also has excellent news and articles on the future of gold.

In the same article though you have guys saying it will go nowhere, and others saying $2000 USD/oz...

for mine those saying it will stay low are the same kind of guys who ALWAYS say it is a good time to buy real estate.... they are embedded in the economy and saying by gold is as good as quitting and going home...

Also re the OP and the truck... I doubt you could afford enough to warrant a truck.... it costs a hell of a lot for what you could carry in your back pocket!
 
also - the guys who say $2000k/oz probably have tin foil caps and have a fully stocked cabin in the mountains for when chaos sets in:)

Also right now gold is a bit volatile, but it is the swings in the AUD that are magnifying it relative to USD gold fluctuations. In out terms if you are punting on gold in the short term you'd want to get a grip on currency fluctuations...

lol if anyone wants some gold PM me and I can wander to Perth MInt to get you some... trust me:) I gather it is hard to get hold of at retail level in many places at the moment... which gets the conspiracy theorists excited as gold has run out in many places but the price is absurdly low...

ANd lucky last... in many ways in an economy like today, get 10-20% of your investments in cold hard GOLD the real stuff, and pray that in 5 years the economy got out ok, your stocks have boomed, and the gold is worth $500USD/oz.... because society will be much much nicer than the one where you have made a lot of money with your gold, but the banks and the stockmarkets have collapsed and there is dispair, war and the rest all around:)
 

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Perth Mint supplies are low. They are not stocking a heap of products.

Are they churning out all they can and it is running out like hot cakes

Are they unwilling to sell what they know is worth more if not for a manipulated market

Are they unable to source the gold due to shortages

The price is not high... so WHERE IS ALL THE GOLD!!!
 
FunkyFreo2 said:
Perth Mint supplies are low. They are not stocking a heap of products.

Are they churning out all they can and it is running out like hot cakes

Are they unwilling to sell what they know is worth more if not for a manipulated market
Are they unable to source the gold due to shortages

The price is not high... so WHERE IS ALL THE GOLD!!!
Click to expand...

Physical bullion is selling for a big premium over the futures price.

My theory is that the mints are/were acting like fractional bankers selling "certificates" for the same bullion multiple times.

When we bought a heap of bullion they dead set tried to talk us into buying a "certificate" and when wanted to take delivery it was originally going to be a six week wait (ended up about 3 weeks) from payment to supply.

It will work its way out of the system when time comes for the futures to be actually delivered.


http://www.kitco.com/ind/Daughty/nov032008.html

Like many people, I have been looking at the price disparity between the market prices of gold and silver bullion (averaging about $1,000 an ounce for gold and $16.50 an ounce for silver) versus the prices of gold and silver futures (about $730 and $8.90 respectively), and I am thinking to myself that I would love to get a piece of that luscious arbitrage action where I buy the gold and/or silver futures at a low price while simultaneously selling the same gold and/or silver bullion at a higher price, telling the buyers that they must pay in advance and then wait up to a few months for me deliver their gold and silver, pocketing a hell of a lot of money on the buy-sell spread and the interest the money earns until the futures contract matures so that I can take delivery and settle up, and then spend the rest of my life on a wild, hedonistic spree of spending, spending, spending!
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True Rip. I was at the Mint today and most stock is a 6 week wait... they had some coins, and some small weight minted bars.

One thing of note is that the premium for physical gold on Ebay has dropped in the past couple of weeks. I saw a 1oz coin on there only go for $30 more than you could have bought over the counter at the Mint.

A lot of credible pro-gold commentary is suggesting that the next few months are not rosy for gold... but then some of the comments are bullish as always.

THe Aussie Dollar is shielding from a lot of variation... it seems that when gold goes up $50USD, the Aussie strengthens and the gain/loss is small at our end.

Gold in aussies is about the same as it was a month ago, but in USD is about 25% down.
 

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James23 said:
**** buying anything on the stock market in the current conditions.

Physical gold or its nothing IMO.
Click to expand...

Let me guess, second/third week of september right? :rolleyes:

Lets just say those were in the market over the last 2-3 months would have made a very nice profit.
 

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