Bosworth

...and with sterling falling fast as well, the overall impact on my holdings is pretty minimal at the moment.

Might change if things continue this way but I for one, as a Brit, am still very happy holding gold...

If there is a short squeeze in gold this week, how far do we think it would rise, or would everything possible be thrown at its containment / masking the symptoms.

Interested in what people's selling strategy would be if this happens - clearly such a price spike would be short-lived so timing a selling to look in profits to immediately reinvest when the squeeze subsides would have value.

Thoughts?

Anyone sure enough of a dip on Mon/Tue to short gold on an etf?

Congrats. And now, don't lose it.

No chance. Already poured everything we've currently saved into PMs.

I was on a training course a couple of weeks ago and people were lamenting the state of the £. Incredibly, people did not realise you could buy gold so readily. Really hammered it home when I took a lovely shiny maple in the next day...

We've all got to do our bit!

(edit: clarification)

Well I've finally put my money where my mouth is...

...and sold to rent.

Completing tomorrow and moving my family into rented, despite ENORMOUS emotional pressure from everyone around me. It's a lonely place being right...

Managed to offload a "prime london riverside flat" (2 bed, 2 bath) for a shade under £600k.

Feels glorious to be free...

...everyone who i have contact with i advise them towards getting some exposure to physical metal i know from the response that people are now listening most unfortunately have not got any spare fiat to get that exposure but at least i feel that i have done my good deed for the day...

Likewise. I was at a large training course a couple of weeks ago and I had a number of conversations about the state of the world and the role gold could play. People had no idea how easy it is to protect yourself. I took a canadian maple in to show people - really did get their interest going...

I will eat my own cock.

Thank you! I haven't belly laughed at my desk in ages....

Okey-dokey, I've done my research and are going with CID as they seem much the cheapest. I've seen people on here approve of them. Correct?

 

Interestingly, CID Sovereigns are cheaper per unit gold weight than Britannias which is unusual and attractive given their divisibility and CGT free-ness.

 

How do sovereigns (Elizabeths) generally come packaged? Can you source capsules anywhere?

Britannias are also CGT free.

I tried to count, and gave up. Estimating it at about 130 oz or more. I lost track...

Look's like there are also a couple of kilo bars squirrelled away there as well in a gloriously goldy slutty way...

There are quiet a few more Chinese than Indians, are there not.

You'd be surprised:

India - 1,147,995,904 (2008)

China - 1,330,044,544 (2008)

http://www.worldstatesmen.org/India.htm

http://www.worldstatesmen.org/China.html

so how come CID are charging £15 (inc vat) per 1oz coin then, if spot is only £9-£10 ?

what am I missing ?

The desire to have something physical in your hand rather than a promise on a piece of paper...

It's not. This subject has been covered before

 

u4d18 is right.

 

There are no spare tank farms. There are plenty of spare ships when the oil price falls

Beg to differ. I used to work in the supply function of a major oil company and I can assure you that there was signficant storage capacity that COULD be used to support trading functions. The fact that this capacity is not declared to the wider markets just made our trading activities even more profitable - imperfect knowledge.

Interesting you should mention oil. I spoke to a colleague today who used to work in the shipping industry as an engineer but still keeps up-to-date with the field. He told me that the number of tankers full of both crude oil and refined products waiting for the price to increase is phenominal. He told me of one ship parked for the last 6 months with 2+ million barrels of oil. Apparently, bought by Morgan Stanley for $40 a barrel, sold recently for $65 or so. He said the standing costs are about 30K per day for the ships but the maths work out nicely.

Easier and cheaper with land-based tank farms

If only...

CID have 1oz britannia's in stock

Why is everyone so convinced the POG is manipulated?

I understand the belief system that suggests this is happening, but is there any evidence, and are the sums of money actually available to make it happen?

Been sitting on the edges waiting for sterling to rise or the POG to fall.

Finally bottled it and topped up my physical.

Too much exciting stuff starting to be whispered about to be able to react quickly enough when it all starts.

Which feels like soon.

I'd rather lose 20% of my insurance than 100% of my fiat.

Anyone else getting twitchy?

There is talk in the media of a new currency game, possibly debasing, possible bretton-woods esque.

There is also talk about preventing "windfall profits" for holders of gold.

How might that work?

How could they stop me selling at market price something I physically own and they don't know about?

Who are "they" anyway?

Goldman Sachs Goes Net Long Gold on TOCOM

 

Just wondering if this is significant in the grand scheme of things or am I clutching at straws?

They got it wrong in Q1 2003 - hope they've got it right now!

I wouldn't pay much attention to that, I've never seen a gold coin being sold by a professional dealer for less than spot price. and trust me if I did, then I would have bought it myself.

 

But I got to admit, £547 for a 1oz Krugger when the spot price is around (lets say for arguments sake) $900 per oz, with the dollar rate in the region of 1.8....... I bet they are raking it in. I'm tempted to give them a ring to see how they are willing to purchase for. I bet they still offer less than spot.

 

The paper/physical disconnection is getting really stupid now.

When I bought last week ATS were selling at £540 and buying at £499.

Did you use ATS ?

 

If you did, can you confirm this article

 

 

http://www.guardian.co.uk/business/2008/oc...nking.economics

Parts of it:

- they were busy

- signin book was chocker

- I had to wait in a Q

...but I don't see the coins going for less than spot value of the gold content.

But I'm a newbie so may have missed something.

I'm starting to worry that we are being played:

- institutions need to realise their assets (gold) by selling

- this will place a temporary downward pressure on price

- public stirred up to take some of the slack.

Would explain the short-term downwards movements despite the public interest.

Long term it matters not - physical gold will be increasingly needed to back debt.

I only have some "remote" physical gold and silver with BV and GM and I am now seriously thinking of "diversifying" my bullion investments by buying some coins. I have actually been thinking about it for quite a while now but still did not make the step.

One important question is the delivery process? How do you get delivered? Do you do it at work? If at home, aren't you afraid of the delivery man coming back at your place while you are on holiday with his van and a couple of friends to take your half-a-ton safe?

I am really sceptical about the security of holding bullion at home. Any thought on the matter? I may be too paranoid, I don't know.

Most of the online companies ship by insured freight.

If it didn't work they wouldn't be in business.

As for the security, well, nothing's perfect.

I tend to only keep an emergency stash at home - enough to get to the country.

Rest stored in various bolt-holes in different directions out of London.

One advantage is the "value per volume" of gold - really don't need much secure space to store a reasonable stash.

dunno if it's any use to you but i like 9999 fine. I like to hold pure gold - it has a differnt colour and density!

The CGT is a small advantage, but not so important in practice if you're going to sell for cash in small quantities at any one time.

...however the downside to this is that they are far more softer than the 22Ct copper mix Krugers and Sovereigns. Future resale value can be affected by dimples / nicks.

Are most people trickling their purchases to ride the ups and downs or do we tend to go big occasionally?

Interested in people's purchasing strategies and mix between types of gold and silver.

I for one just bought 15 Krugers. Gives me a bit of wiggle room before hitting the £10k barrier but still provides a good slug of security in case things deteriorate rapidly.

Interested in what others are doing and why.