I would like to invest in some gold soon, but would rather buy a big lump of pure gold than invest in shares assosiated with gold. where can i get the cheapest price, safest buy?

Get yourself to this site and start trading Gold Bullion.
Been using it for about 18 mnths and trading is very easy, they give you a gram of gold to practice trading.
www.bullionvault.com.
Good luck.

there are all sorts of ways of dealing directly in gold ...... your broker should be able to give you guidance, but the easiest way is prob via cfd ort futures.

in fact, now looks to be a pretty good time buy (or at least it was yesterday and this morning), but timing is everything

and so it proved ...... spot gold now $640 = + approx $10.00 since the last post ...... info is that +/-$644 could prove something of a resistance, but if a sustained break through that level, then >$700 certainly on the cards ...... but failure could mean fall <$600

and so it seems to have proved yet again ..... $644 touched and suddenly price has collapsed by $10/12.00 which is a recovery after falling about $20.00 ...... in some way also shows the importance of ahving tight stop losses

Some wise words from you Cynic..... Very interesting indeed... not a large percentage gain though

may not technically be a large %, but as done on CFD a lot better than you might think ..... traded option would be about the same i think .... i.e. outlay = $200 per $100 per $1.00 movement - thus gearing is very heavy (and dangerous!), meaning $10.00 movement yields (or loses) $1000 ..... not such a bad return methinks!

not entirely convinced that my logic is sound ..... bought back in at $625 as there seems a distinct reluctance for price to drop through that level ...... so far so good, but will need to watch carefully if bloody nose to be avoided

silly boy .... or at least in the short term as gold now $405 or thereabouts .... however, shall be hanging on ..... recommend to those interested, the bullish article on gold in today's Sunday Times

What a stinger mate, I am feelin' for you. Don't no why, you are one of the least sympathetic posters I know.... I should be rubbing it in lol

Cynic, you mean $605 not $405

I did indeed ... thanks for the corection ..... more imprtantly, as far as i can determine, price hit $595 overnight in F/E(?) and bounced strongly .... exactly what the chart would have indicated .... almost certain, but cannot lay my hanbds on the one i had.

Tonker .... I am not grizzling in the slightest as my post indicates ..... you win some; you lose some ..... Very bullish article in Sunday Times re gold; suggest you read it if you have any interest in investing in the metal

cynic,

Do you have a link to that Sunday Times article please?

Not being lazy, just busy at work.

no ...... but in biz section page 2 ..... if i get a chance, will try to find on net, but not sure if it will be there

excellent bounce by gold yesterday, so though my entry timing was not great it is now back in the money ...... remember gold follows an independent pattern from the likes of copper, zinc etc

here's that link -

http://www.timesonline.co.uk/article/0,,2095-2534224.html

Cynic, can you please explain what you mean by "... gold follows an independent pattern from the likes of copper, zinc etc." Do you think buying gold from Kitco.com is a good? They have a commision free pool account

can't comment on Kitco as I do not know them and have no idea how they works things ..... I trade gold through CFDs.

Copper, zinc etc are dependent on economic factors - e.g. manufacturing demand ..... Gold is totally different insofar as comparatively little is used is manfacturing ...... It's traditional appeal lies in its use as a haven against currency (today = US$) fluctuation and weakness and in bolstering national non-currency reserves.

If memory serves me correctly, there is a historical link between the price of gold and that of oil ...... With oil at its present levels, the argument goes that gold should therefore be $750+ ...... I think!

Richardbees,

Many thanks for posting that link.

presume that is last week's article .... if so, you will find it makes interesting reading

ANYONE KNOW THE STORY HERE.

CFDs or futures are the easy way to buy bullion

I've had a holding of BULL in my SIPP all year and added on the dips. It's a long term punt with inflation likely to remain high.

Missed your #22 there, cynic.

I bought the ETF. I've been in and out of silver too

ETF?
anyway, bullion is looking quite a good bet at the moment and am seriously contemplating buying in

Exchange Traded Fund

Trustnet

Note the bit about no stamp duty!! ETFs are available on all commodities, indices, etc. Surprised you don't do them.

Might as well wait a little now, cynic.

Yahoo

Probalby a bit better, but Google ETF and see what you come up with

hi choccy ...... $720 from memory is a major support and certainly some profit-taking under way after recent strong rises.

AL ..... CFDs don't have stamp duty either and nor, i am certain, do traded options

You are right. CFDs do not attract stamp duty, but are included in CGT, unlike spreabetting, which isn't of course.

Almost got confused myself there. LOL

Right now I'd say it was around $716, cynic.

thanks dear heart ...... confess i do not have a chart to hand .... last time i closely followed gold was too far back

Gold stuff

Kitco - decent site for metals, etc

30 day


1 year


Last few days

have now discovered that 20 dma is about 706

Cynic i work in the jewellery trade and rumour is $800 before the years out.

that's not such a foolish rumour/possibility - unlike some!
with weak $ and general financial uncertainty and continuing M/E in stability (was it ever stable?), gold is a traditional haven.

by the way, good to see IEC back above 200 dma and holding despite shitty market

ETF Securities website

Forgot about this link yesterday for those interested. Also the chance to gain exposure to many other things

Gold price has been dropping like a rock...dropped 20% over a period of 1 month...it will go to $600, I think.

Lots of economic data out in US today gold seems very undervalued to oil at the moment so Either one will need to drop or the other rise. I can't believe the bounce in the dollar recently but everything overshoots especially when hedge funds are involved. The perception is that the US is starting to come out of the crisis whilst others are just getting into it. A lot of investors have been playing the long oil short dollar routine and this seems to have been unwinding big time recently. They say that seasonally this is a good time to buy gold though not if oil goes into freefall and the dollar rallies! A guy called something like Gratham was on Bloomberg last night who predicted the top of gold at 1030, the bottom of the 2003 bear and the top at 14000 last year on the DJIA. He is expecting a 6-9 month rally and likes the small caps that have been trashed e.g. Russell index which along with tech is the first one out of the traps at the end of a recession.

Any thoughts on Black Rock Gold,which invests primarily in gold company shares?
Their price relative to gold has come down considerably more.In other words,when the price of gold was about $650,there price was about 10. per unit.Now,with the price of gold at about $800. their unit price is just under 9. per unit.(down from a peak of something like 11.50 per unit)
Not a great performance,but might the future suggest a period of out-performance?

Im reading a book at the moment called the bull hunter by Dan Denning that goes into etf's and their trading strategies costs a tenner and published in 2005 so things have moved on a bit since then.I have never traded etf's but they seem to be incredibly popular at the moment for a global, diversified approach with cheaper access than mutual and ability to go long/short etc. . He mentions the american stock exchange has a gold index gdm with 36 companies