ologhai Posted October 16, 2008 Report Share Posted October 16, 2008 I would agree that gold trading is highly dangerous. Don't do it unless you have lots of money to lose. You're better off buying physical. Hold it in your own hands. Just to put the whole gold trading thing in context, I tranferred about £1500 into BV this week in order to 'have a go' at trading for the fun of it. I don't have a history of gambling. If this trading can be called gambling, then it's the only example of gambling I can think of that I've ever been involved in -- no National Lottery, no horses, no slot machines... I'm not saying that trading is an alternative to having a more substantial long-term holding. It's just for fun, and if gold is devalued to £0, then the most I can lose is about £1500. I don't intend to derail this 'gold fundamentals' thread at all! As you were... Link to comment Share on other sites More sharing options...
G0ldfinger Posted October 16, 2008 Author Report Share Posted October 16, 2008 very useful chart, cheers I think they show that silver is grossly undervalued due to massive manipulation. Steal of a lifetime IMO. Link to comment Share on other sites More sharing options...
warpig Posted October 16, 2008 Report Share Posted October 16, 2008 Nice Steve. (In a sick kind of way ) Link to comment Share on other sites More sharing options...
azazel Posted October 16, 2008 Report Share Posted October 16, 2008 jim sinclair says: # Sliver will demonstrate the fact that it is more industrial a metal than precious. He had me worried then about my silver but then I realized hes talking about sliver not silver, phew..... Link to comment Share on other sites More sharing options...
Steve Netwriter Posted October 16, 2008 Report Share Posted October 16, 2008 Nice Steve. (In a sick kind of way ) :lol: Post offices start selling gold coins Wed, Oct 15 03:35 PM New Delhi, Oct 15 (ANI): Post Offices have started selling 24-carat gold coins from today. The coins will be available in over 100 India Post outlets in Delhi, Tamil Nadu, Maharashtra and Gujarat in the pilot phase. The gold coins are in the popular denomination of half gram, one gram, five grams and eight grams. The prices of these coins will be competitive based on the prevailing prices of gold. Launching the service in Delhi, Communications and IT Minister, Thiru A. Raja directed the Department of Post to take the gold coins to rural post offices so that the benefit goes to the common man. http://in.news.yahoo.com/139/20081015/808/...old-coin_1.html Link to comment Share on other sites More sharing options...
Andrew McP Posted October 16, 2008 Report Share Posted October 16, 2008 It looks like you got the rockets pointing the wrong way Steve. Someone appears to be selling gold and buying shares with the money to prop up the FTSE. Andrew McP Link to comment Share on other sites More sharing options...
bakachu Posted October 16, 2008 Report Share Posted October 16, 2008 Someone appears to be selling gold and buying shares with the money to prop up the FTSE. Nooooooooooooo Gordon dont do it!!! Link to comment Share on other sites More sharing options...
Rikk03 Posted October 16, 2008 Report Share Posted October 16, 2008 Nooooooooooooo Gordon dont do it!!! Gordon has no more gold reserves to sell ... sold em at just about the all time low price several years ago. Link to comment Share on other sites More sharing options...
goldenbee Posted October 16, 2008 Report Share Posted October 16, 2008 Gordon has no more gold reserves to sell ... sold em at just about the all time low price several years ago. What, none? I thought there was some left, oh dear, this is bad if accurate. Link to comment Share on other sites More sharing options...
wrongmove Posted October 16, 2008 Report Share Posted October 16, 2008 jim sinclair says: # Sliver will demonstrate the fact that it is more industrial a metal than precious. He had me worried then about my silver but then I realized hes talking about sliver not silver, phew..... Link to comment Share on other sites More sharing options...
warpig Posted October 16, 2008 Report Share Posted October 16, 2008 Can anyone find anything positive to say about the sale of my house falling through today and not having a large pot of cash to buy gold with? Link to comment Share on other sites More sharing options...
Mr Pipples Posted October 16, 2008 Report Share Posted October 16, 2008 Can anyone find anything positive to say about the sale of my house falling through today and not having a large pot of cash to buy gold with? Nothing clever, no. You'll always need a roof over your head and might not always need gold... If that makes any sense to you. A right bummer though, sorry. Link to comment Share on other sites More sharing options...
sylvester Posted October 16, 2008 Report Share Posted October 16, 2008 Can anyone find anything positive to say about the sale of my house falling through today and not having a large pot of cash to buy gold with? Less stuff will get broken in the move? And that means there is more to sell when you need food and burn when you need heat! Link to comment Share on other sites More sharing options...
wrongmove Posted October 16, 2008 Report Share Posted October 16, 2008 Can anyone find anything positive to say about the sale of my house falling through today and not having a large pot of cash to buy gold with? First, I am sorry to hear the deal did not go through. This must be very stressful for you, and you have my sympathy, and I am sure everyone elses here too. At least you must have some equity cushion, if the deal would have generated a large pot of cash. If you do have any cash atm, I would use it to pay down the mortgage, personally, rather than buy gold (remember to discount any gains on investment against the "losses" incurred by continuing to hold debt, rather than pay it down). Just one thing. The deal falling through is a sign that retail credit is not easily available, even secured credit. Punters do not have access to "unlimited money", even if retail banks do. So maybe you will not need gold as badly as you think. Make sure you are on a fixed rate mortage, and if hyperinflation kicks in, you can pay the mortgage off for the equivalent of one day's rent, and you will have somewhere to live in the aftermath. Not as much fun as making a "killing" on gold, but much, much better than nothing, IMHO. The very best of luck with whatever you decide to do. Link to comment Share on other sites More sharing options...
Dispassion Posted October 16, 2008 Report Share Posted October 16, 2008 Can anyone find anything positive to say about the sale of my house falling through today and not having a large pot of cash to buy gold with? Easy - 'They' are more likely to confiscate your gold than your house. Link to comment Share on other sites More sharing options...
G0ldfinger Posted October 16, 2008 Author Report Share Posted October 16, 2008 What, none? I thought there was some left, oh dear, this is bad if accurate. I think 311 tonnes are left, if they haven't lent them out to RBS or similar. Surely they will get them back. :lol: Link to comment Share on other sites More sharing options...
warpig Posted October 16, 2008 Report Share Posted October 16, 2008 Thanks for your pearls of wisdom and making me laugh, the latter was all I needed really. Both are appreicated! Link to comment Share on other sites More sharing options...
Gatesy Posted October 16, 2008 Report Share Posted October 16, 2008 Has anyone any experience of making gold gram payments to another individual via Goldmoney? I was sure I saw that this could be done on Goldmoney but looking at the FAQ's it appears that only merchant type payments can be set up via a website. I was thinking more like a BACS transfer from one individual to another. Link to comment Share on other sites More sharing options...
warpig Posted October 16, 2008 Report Share Posted October 16, 2008 As if by magic 10 1/10th oz Krugerrands have just arrived. Cute little buggers. Link to comment Share on other sites More sharing options...
Steve Netwriter Posted October 16, 2008 Report Share Posted October 16, 2008 Has anyone any experience of making gold gram payments to another individual via Goldmoney? I was sure I saw that this could be done on Goldmoney but looking at the FAQ's it appears that only merchant type payments can be set up via a website. I was thinking more like a BACS transfer from one individual to another. Have you logged in to see ? I thought you just selected a gg payment option. Link to comment Share on other sites More sharing options...
G0ldfinger Posted October 16, 2008 Author Report Share Posted October 16, 2008 Has anyone any experience of making gold gram payments to another individual via Goldmoney? I was sure I saw that this could be done on Goldmoney but looking at the FAQ's it appears that only merchant type payments can be set up via a website. I was thinking more like a BACS transfer from one individual to another. I would be interested to know as well. My plan is to buy a house for a few ounces in a few years time, so, assuming no one will really want to hold cash at the time, such a transaction would be perfect. Link to comment Share on other sites More sharing options...
ologhai Posted October 16, 2008 Report Share Posted October 16, 2008 Thanks for your pearls of wisdom and making me laugh, the latter was all I needed really. Both are appreicated! I did click reply on your previous post, and then sat there with an empty reply for a while. I couldn't think of anything to say that didn't sound glib and/or just plain wrong. It is true to say that, if it'd happened to me, I'd be pretty upset, so I can certainly empathise. However, it is true that a roof over your head is a roof over your head, and, as has been said, it sounds like you have quite a buffer in terms of equity. Besides, unless you'd intended to put all of your money into gold, you'd probably be at least somewhat concerned about the safety of the cash in a bank (or similar) in these turbulent times. Even if you did invest 100% into gold, unless you have total conviction that it can only possibly go one way, I'm not convinced that there's total comfort there either -- at least for anyone even remotely agnostic. This obviously isn't the outcome you wanted, but there's always a chance that another offer will come along... and, most importantly, you're a person who's clearly keeping a weather-eye on all things financial. That can only be a good thing. Sorry I couldn't think of anything truly positive to say, and I hope things work out. Link to comment Share on other sites More sharing options...
Gatesy Posted October 16, 2008 Report Share Posted October 16, 2008 Have you logged in to see ? I thought you just selected a gg payment option. How simple ! Yes, that appears to be it. Haven't tried it yet but was considering buying some for parents who take forever to sort paper work out so i could transfer to them later. Link to comment Share on other sites More sharing options...
Steve Netwriter Posted October 16, 2008 Report Share Posted October 16, 2008 How simple ! Yes, that appears to be it. Haven't tried it yet but was considering buying some for parents who take forever to sort paper work out so i could transfer to them later. Hang on, I'll go find my ID so you can send me a few thousand gg. Just for test purposes you understand. :lol: Link to comment Share on other sites More sharing options...
warpig Posted October 16, 2008 Report Share Posted October 16, 2008 Thanks... Perhaps this is another strange twist of self induced fate, I'll have to wait and see. I don't necessarily see this as a negative as you say, it solves the problem of what to do with the equity for the time being. If I had sunk my equity into PM's circa last month, the loss would have been 10's of 1000's of pounds and I think that would have given me a heart attack! You have to have nerves of steel to deal with situations like that and whilst I could deal with it, I can't help but think the stress would take it's toll. I'd like to think lady luck is looking over me! I like the sense of camaraderie on this thread, I genuinely think everyone here wishes everyone else the best of luck. Hopefully this thread won't become too popular and lose that trait. I did click reply on your previous post, and then sat there with an empty reply for a while. I couldn't think of anything to say that didn't sound glib and/or just plain wrong. It is true to say that, if it'd happened to me, I'd be pretty upset, so I can certainly empathise. However, it is true that a roof over your head is a roof over your head, and, as has been said, it sounds like you have quite a buffer in terms of equity. Besides, unless you'd intended to put all of your money into gold, you'd probably be at least somewhat concerned about the safety of the cash in a bank (or similar) in these turbulent times. Even if you did invest 100% into gold, unless you have total conviction that it can only possibly go one way, I'm not convinced that there's total comfort there either -- at least for anyone even remotely agnostic. This obviously isn't the outcome you wanted, but there's always a chance that another offer will come along... and, most importantly, you're a person who's clearly keeping a weather-eye on all things financial. That can only be a good thing. Sorry I couldn't think of anything truly positive to say, and I hope things work out. Link to comment Share on other sites More sharing options...
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