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

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