GOLD

[sossij]

Because the fix is the price at which large quantities of physical gold are traded in London.

 

After the fix it's mostly a paper game on the COMEX.

 

As an example:

 

http://support.goldmoney.com/article.php?id=098

Are there any limits to how much metal I can purchase, sell or exchange?

 

No, there is no minimum or maximum amount for metal purchases, sales or exchanges.

 

There is, however, a limit as to how much metal you can buy or sell at a 'locked rate', which is the prevailing rate of exchange between a currency and the metal you are purchasing at the time you place your order. Presently those limits are 2,000 goldgrams and 1,500 silver ounces per business day, for metal purchases and sales. For metal exchanges (e.g., converting goldgrams directly into silver ounces) the limit is 1,000 goldgrams and 1,000 silver ounces per business day.

 

Larger orders above these limits can of course be placed, but we cannot confirm the purchase or selling rate when you place your order. Instead, the exchange rate is based upon the first London 'Fixing Price' after the order is placed.

 

 

Ah, thank you

[headmelter]

In the case of gold I'd like to see the low $950s now. A move down on low volume will make an entry a fairly safe bet.

 

 

Just a general message, not directed at you Gatesy. I'd hate for anyone to lose money based on advice from a bloke on the internet. I drip feed physical purchases just like everyone else and that is one of the safest ways to gain protection from the disasters inflicted upon us by the idiots in charge. I don't generally buy into the armageddon theories, but some of the news this past week has genuinely scared me. I already have quite a large holding of physical gold and silver, but I'll be doubling my monthly purchases from here on in. I don't want to be the guy left holding a fortune in paper promises I can't collect without having some kind of consolation prize.

 

 

Hi marceau,

Unfortunately I've come to the game late and am still building my physical core holdings.

Currently happy with ammount of silver but sadly short on gold.

I missed a few opportunities last week to get in at $920ish due to being a wage slave and no access to web for much of the day. Being reluctant to buy into strength I may have been too patient/hopeful of bagging a bargain.

With the current strength do you reckon $950s or less are possible or should I just bite the bullet, buy and sit tight.

FWIW I intend to put about £10k-£15k in coins so I really want it as cheap as I can get it.

 

your thoughts, as are everyone elses appreciated.

 

 

[Steve Netwriter]

I know stockcharts have the daily volumes but wondered whether there was intraday available on the cheap

 

1 Day in minutes:

 

 

 

5 Days in minutes:

 

 

 

From:

http://bigcharts.marketwatch.com/advchart/...me=8&freq=1

 

You have to play with the settings on the left.

 

[marceau]

Hi marceau,

Unfortunately I've come to the game late and am still building my physical core holdings.

Currently happy with ammount of silver but sadly short on gold.

I missed a few opportunities last week to get in at $920ish due to being a wage slave and no access to web for much of the day. Being reluctant to buy into strength I may have been too patient/hopeful of bagging a bargain.

With the current strength do you reckon $950s or less are possible or should I just bite the bullet, buy and sit tight.

FWIW I intend to put about £10k-£15k in coins so I really want it as cheap as I can get it.

 

your thoughts, as are everyone elses appreciated.

 

 

I think $950 is very possible but other options shouldn't be ruled out. The current economic situation is so extreme I'm surprised TA is even usable any more, but it still is (for the time being). Once the market wakes up from it's stupor and cottons on to just how big this whole mess is, you can throw your TA books out the window.

 

If you already have physical metals, you don't need to rush in to buying. Why not start drip feeding in small amounts of that £10-15k into coins each week. That way if we do get a nosedive to $950 or below, you will have a lot of dry powder to make a bigger buy. If gold continues to rise, you won't have lost anything, and can reassess the speed at which you drip feed dependant on the circumstances. I'm sure $950 looks a long way away at the monent to many, but we can reach that level in days in my opinion. The problem for most people is that when we do drop down there, they are afraid to buy as the support appears too shaky when it's close.

 

Of course, you could always consider gold and silver mining shares, many of which are lagging the physical price very badly and have a lot of catching up to do. There are some excellent picks in the mining section of this site which can easily be purchased through UK brokers. Over half of my most recent set of buys (when gold was in the $910-20 range) were actually gold and silver miners or royalty companies, some of these were at true bargain basement prices (SLW for under $13.50 ) and although they have moved up, they still represent great potential for gains with minimal downside.

[azazel]

Hi marceau,

Unfortunately I've come to the game late and am still building my physical core holdings.

Currently happy with ammount of silver but sadly short on gold.

I missed a few opportunities last week to get in at $920ish due to being a wage slave and no access to web for much of the day. Being reluctant to buy into strength I may have been too patient/hopeful of bagging a bargain.

With the current strength do you reckon $950s or less are possible or should I just bite the bullet, buy and sit tight.

FWIW I intend to put about £10k-£15k in coins so I really want it as cheap as I can get it.

 

your thoughts, as are everyone elses appreciated.

Keep a look out on ebay. Prices often lag the real world. For example, 10 sovereigns currently at £1083, 2 hours to go.

 

http://cgi.ebay.co.uk/10-Elizabeth-II-Gold...p3286.m14.l1308

 

Compared to C.I.D £1214

 

Im still buying the occasional coin on ebay for the right price.

[Gatesy]

1 Day in minutes:

 

 

 

5 Days in minutes:

 

 

 

From:

http://bigcharts.marketwatch.com/advchart/...me=8&freq=1

 

You have to play with the settings on the left.

Marvellous

 

[Gatesy]

I don't generally buy into the armageddon theories, but some of the news this past week has genuinely scared me. I already have quite a large holding of physical gold and silver, but I'll be doubling my monthly purchases from here on in. I don't want to be the guy left holding a fortune in paper promises I can't collect without having some kind of consolation prize.

Yes, this last week has made me want to bump up my physical % a fair bit as well (depending if one classifies Goldmoney as physical...). Just transferred a wedge of fiat to GM in readiness.

[Steve Netwriter]

Former Prime Minister Confesses Real UK Inflation is 10%, Triple Official Rate of 3.8%

Jul 15, 2008

http://www.marketoracle.co.uk/Article5469.html

 

Sir John Major Says Government Inflation is Massively Underestimated - Real Inflation of Some 10%

The U.K.'s official government inflation rate rose to a record high in June data from the Office for National Statistics showed this morning. The consumer price index rose 0.7% on the month and 3.8% on the year in June, the highest annual rate since records began in January 1997 and second consecutive month that it has been more than one percentage point above the BOE's 2.0% target.

 

There are increasing questions about the reliability of government economic statistics including inflation figures.

 

Sir John Major said yesterday that the true annual rate of inflation is as much as 10 per cent and warned that Britain was on the brink of recession or may already be in recession. The former Conservative prime minister forecast more job losses and bankruptcies and accused the Government of under-stating the real impact of price rises. He said changes to the way inflation is calculated had been "extremely misleading", with increasing food prices and heating bills not reflected by the official statistics on the cost of living.

 

With inflation soaring internationally and the UK and US governments underestimating inflation by 2 or 3 times the actual rate, it is clear that inflation is not some ‘flash in the pan' phenomenon soon to miraculously disappear. Concerted action including higher interest rates by central banks will now be needed in order to tame the mortal threat to all paper currencies that is inflation.

 

----------------

 

Which just goes to show, some politicians do sometimes tell the truth

 

[pmaupoil]

I need to diversify on silver, I meant to do it for months.

Quick question for Goldmoney users. I am going through the CAP documentation and I need certification of my passport photocopy from an authorised body. What type of free officer did you use, do you know whether a bank clerk is enough?

Cheers.

[headmelter]

I think $950 is very possible but other options shouldn't be ruled out. The current economic situation is so extreme I'm surprised TA is even usable any more, but it still is (for the time being). Once the market wakes up from it's stupor and cottons on to just how big this whole mess is, you can throw your TA books out the window.

 

If you already have physical metals, you don't need to rush in to buying. Why not start drip feeding in small amounts of that £10-15k into coins each week. That way if we do get a nosedive to $950 or below, you will have a lot of dry powder to make a bigger buy. If gold continues to rise, you won't have lost anything, and can reassess the speed at which you drip feed dependant on the circumstances. I'm sure $950 looks a long way away at the monent to many, but we can reach that level in days in my opinion. The problem for most people is that when we do drop down there, they are afraid to buy as the support appears too shaky when it's close.

 

Of course, you could always consider gold and silver mining shares, many of which are lagging the physical price very badly and have a lot of catching up to do. There are some excellent picks in the mining section of this site which can easily be purchased through UK brokers. Over half of my most recent set of buys (when gold was in the $910-20 range) were actually gold and silver miners or royalty companies, some of these were at true bargain basement prices (SLW for under $13.50 ) and although they have moved up, they still represent great potential for gains with minimal downside.

 

 

Thanks, drip feed it is then, unless there is a considerable dip.

[enrieb]

Hi marceau,

Unfortunately I've come to the game late and am still building my physical core holdings.

Currently happy with ammount of silver but sadly short on gold.

I missed a few opportunities last week to get in at $920ish due to being a wage slave and no access to web for much of the day. Being reluctant to buy into strength I may have been too patient/hopeful of bagging a bargain.

With the current strength do you reckon $950s or less are possible or should I just bite the bullet, buy and sit tight.

FWIW I intend to put about £10k-£15k in coins so I really want it as cheap as I can get it.

 

your thoughts, as are everyone elses appreciated.

 

I started buying gold at £650 when it jumped over $700 I though there might be a pull back where I could buy 5k more, it just kept going then it was in the $800 range and I was hoping for a pull back to $700-750 but its kept rising until it jumped up to over $1000 I seriously expected a pull back after this much of a price rise and it finally came back down to the low $900s where I finally managed to buy it, then I when I got some more money I added again when the price fell to $870.

 

The lesson is, I should of bought it when I had the chance at $700 or even $800, by dollar cost averaging as FSN and James Turk always say. In the time I spent waiting for a pull back I learned so much about gold and the world finical situation that I was convinced that I would be much better off having my cash in gold, then I felt comfortable buying in the $900 range.

 

If your unsure about buying it all now you could buy gold with 25-50% of the money you intended to invest, then buy another 25-50% next month and so on. That way if the price falls you get to buy some cheaper next month or if the price rises at least you own some at the current price.

[UpTheKhyber]

I need to diversify on silver, I meant to do it for months.

Quick question for Goldmoney users. I am going through the CAP documentation and I need certification of my passport photocopy from an authorised body. What type of free officer did you use, do you know whether a bank clerk is enough?

Cheers.

I don't think so. The list of acceptable certifiers is at bottom-left of the CAP page. The list basically consists of legal professionals, civil servants, accountants and financial advisers. Apparently more trustworthy than the rest of us .

http://www.goldmoney.com/en/cap.html

[BelfastBoy]

Quick question for Goldmoney users. I am going through the CAP documentation and I need certification of my passport photocopy from an authorised body. What type of free officer did you use, do you know whether a bank clerk is enough?

I just went to the bank. Though read through the form, so you can tell the clerk what is required.

 

[huntergatherer]

I need to diversify on silver, I meant to do it for months.

Quick question for Goldmoney users. I am going through the CAP documentation and I need certification of my passport photocopy from an authorised body. What type of free officer did you use, do you know whether a bank clerk is enough?

Cheers.

 

In answering your question, yes a bank clerk is enough to certify a passport photocopy for GM as I have done this myself.

 

I went to my local branch. It obviously does help if you are a regular client and are known but not essential. However, from my own experience, some banks have a strict policy not to certify IDs and do not bother going to the police as they say they are not allowed to do this!

[UpTheKhyber]

Good to hear i'm wrong about that, but which category of acceptable certifier does bank clerk come under? Surely cashiers can't claim to be accountants or notaries?

[huntergatherer]

Good to hear i'm wrong about that, but which category of acceptable certifier does bank clerk come under? Surely cashiers can't claim to be accountants or notaries?

A bank clerk is under the last category of the seven listed; 'a director, officer or manager of a regulated financial services business which is operating in a well-regulated jurisdiction' and goes on to include within the definition branches of regulated financial services businesses.

[GTG]

Would your GP suffice?

[Steve Netwriter]

Just in case anyone wants to know, in NZ the local police station is THE place to go.

We've never been into a police station so much since we got here

 

[Steve Netwriter]

Copied from "Evans-Pritchard-a run on the dollar?"

This feels so accurate, I almost feel wrong doing it. But it seems wrong to waste 10 minutes editing time

 

 

 

Edit:

I just thought.

 

The latest Google tool. "Google Dollar". Watch it crash and burn in real time.

 

[sylvester]

Just in case anyone wants to know, in NZ the local police station is THE place to go.

We've never been into a police station so much since we got here

 

I am currently re-training to be a pilot (oh, I know, great timing, but at least I'll be able to flee by air should riots start or join the airforce when the war comes!).

Anyway, as part of the training, you need, among other things, a medical and a police record check. Being smart, I think I'll kill two birds with one stone and get my eyes checked then go to the cop shop just round the corner to get my proof of ID done (for the UK police record check).

So I rock up to the opticians and have all the tests done. Only problem is, to check the retina, the optician puts these drops in my eye that make my pupil relax so that he can see in easily. Now I don't know if you have ever had this done but not only does it mean you can't focus on anything nearer than 10ft away, but it stops your eye being able to reduce the amount of light coming in. Paying was difficult as I couldn't see the buttons on the pin number machine.

 

So then I go in to the police station and queue up. It's very bright in the waiting area with all the fluorescents so even though it's actually a dull Wellington day, I have to wear my dark sunglasses in there. As I get closer to the front of the queue, I suddenly realise that here I am, in a police station, wearing sunners on a dull day, completely unable to focus on anything and with the biggest, most stoned looking pupils just waiting to be exposed to the officer on the desk (when he wants to make sure I look like th ebloke in my passport). I can't even tell him where to sign as I can't read the form anymore.

Luckily he just looked at me (sunglasses and all), looked at the photocopy of my passport and stamped it with his 'ok by us' stamp. New Zealands police are the best!!

 

 

[sylvester]

Copied from "Evans-Pritchard-a run on the dollar?"

This feels so accurate, I almost feel wrong doing it. But it seems wrong to waste 10 minutes editing time

 

 

Now we know who added the extra Iranian rocket, huh Steve? Or should I call you Ahmadine-netwriter?

[Steve Netwriter]

New Zealands police are the best!!

 

Great story

 

Yes they are

 

[G0ldfinger]

This is so funny. Even older people don't know that they have to buy gold & silver.

 

http://www.latimes.com/business/la-fi-indy...88.story?page=2

At a Downey branch in Arcadia, Doris Crosby of Pasadena was transferring money from another bank, where it hadn't been insured, into her checking account despite hearing rumors that Downey was in trouble.

 

"I just have this feeling I'm jumping from one frying pan to another," Crosby, 82, said. "I just don't know what to do."

[G0ldfinger]

Posted on another thread:

Without having read the article yet, how does a run on the Dollar fit with his thesis of deflation?

 

Looks like USD hyperinflation to me.

 

 

:lol: People start crying for REAL money.

 

The problem is, there is not much real money out there! Most money out there is paper, i.e. not real. :lol:

 

[Gatesy]

do not bother going to the police as they say they are not allowed to do this!

Unless your next door neighbour is one, like mine..