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Gold Advice


pmn100
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New here.

 

I've read the sticky beginners guide for purchasing gold and have a few questions.

 

1. Would it be more beneficial right now to buy gold in dollars instead of sterling? Its expected that the dollar could fall a fair bit which would give you a good profit. If on the other hand sterling falls further against the dollar, you're still up because gold priced in sterling will rise. Is that right? Or does it make no difference? Trying to find an optimum entry point.

 

2. It appears any orders for physical over £10,000 need to be reported or require further ID checks, etc. Would a simple way around this be to buy just shy of £10,000 worth from multiple dealers?

 

3. What percentage of your wealth would you recommend in these times? And how is it divided among physical gold and the bullionvault/goldmoney services?

 

4. Krugerrand, Britannias, sovereigns? A mixture?

 

5. What premium over spot does physical demand, typically?

 

TIA

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Hi pmn, and welcome to the forum :D

 

Re #1, see this post: http://www.greenenergyinvestors.com/index....ost&p=61448

 

I think you just think in terms of the currency you have, and the "cost of gold" in that currency.

Or as I would prefer to put it, the exchange rate between your currency and gold.

 

Picking an entry point is tricky, and IMO relates to qu. #3. My view is that it's a good idea to have at least some safe haven insurance whatever the current price. Then you can try and build up your holding to whatever level you feel is right for you.

 

This post gives a rough guide: http://www.greenenergyinvestors.com/index....ost&p=53432

 

I think it's a good idea to watch gold in various ways. The US$Gold rate, and GBPGold, JPYGold and the Kitco Gold Index:

 

The Kitco Gold Index, (press "Kitco Gold Index")

http://www.kitco.com/gold_currency/charts.htm?USD

 

I'm going to pass on #2.

 

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Re premiums, this is a great resourse:

 

Superb new tool to monitor EBAY Gold/Silver prices...

Buy/Sell prices by country and region...

http://www.greenenergyinvestors.com/index.php?showtopic=5106

 

BV & GM are around 3 to 5%.

 

NZ Mint is around 18% for gold silver, and around 6% for gold, which has been roughly what other coin dealers seem to be charging.

 

But prices, delivery times and availability do vary, so check around.

 

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