This deserves a thread as it revolutionises the way Gold can be traded.
Starts trading on L.S.E.on Dec 9.rgds aj

Ref 1st day trading i.e.yesterday.
........................
Simon Village,joint Managing Director of Gold Bullion Securities :-Quote :-

This has been a phenomenal success.The interest from private and institutional
investors has greatly exceeded our expectations.It is indicative of a
STRONG INTEREST IN GOLD IN THE MARKET GENERALLY - my Capitals .
rgds aj

Gold has always been a refuge in times of uncertainty.

The new Gold Bullion Securities now allow small investors to take that refuge.

This would have been very useful just over 10 years ago when the pound dropped through the floor as it fell out of the ERM & Norman Lament played silly games with interest rates & kept on wasting billions of our gold reserves trying to prop it up.

Meanwhile George Soros borrowed billions of pounds & dumped them on the market in exchange for whatever currency took his fancy.

When the pound bottomed out, he bought back some pounds to repay the borrowings & kept the rest.

Us small investors could have taken refuge in Gold Bullion Securities & then bought our pounds back when things had settled down, we would have made a fortune in pounds with hardly any risk.


Of course the pound eventually recovered & we would have benefited from that & that is when our gains would become real.

If we had bet on another currency then that would have been far more risky than gold.

In fact, when the pound was plumetting it would have been more risky not to do it.


Sooooooooooo, the next time the pound plumets, go for Gold Bullion Securitie.

Don't know if anybody else has noticed this,but according to the GBS price on moneyam,its "suggests" its about 40p,but ofcourse,its more like..............................40 bucks !!!!!!!!!!!!!!!!!!!!!!!

phobos,

yes you're right, and I think this has casued some confusion, as I have seen comments on other BB's reagrding this too!

I have to admit I thought it was 40p too at first, and couldn't work out how it was arrived at, until I realised the price had to be in $US.

well I made a "trial" trade of GBS on Comdirect "buying" a few at 40p so I thought,going to press the cancel button ofcourse..........anyway it told me not enough funds (only had 50 quid in cash) not surprising really when they told me later it was Dollars not pence.........I had read earlier in GBSs info,its based on 1 tenth of price of gold.


Also,CD DON'T do online trades in this 'course its price in US$$$$$$$$

and of course if the dollar falls .....

Sconway,

US$ will rise tomorrow I think, gold and oil down for a couple fo days i reckon.

I'm waiting until this euphoria dies down, then will be looking to buy a few of these, or maybe even Cambrian.

For Dec each GOLD is equal to 99.90 per cent of 1/10th of an oz.
It is unfortunate - for calculation purposes - that they can not standardise it.
Perhaps they will be able to create an algebraic formula.
Rgds aj