# gold bullion



## rich-hill (May 13, 2008)

Hello,

I've just opened an account with bullionvault.com se if i can make any money with gold.

Could anyone who uses this enlighten me a little,

What are goo buying/selling prices for gold? At the moment its £20,417/kg, but i have know idea if this is good or not?

If anyone can shed a little light on it for me please.

Rich


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## rinns (May 24, 2008)

rich-hill said:


> Hello,
> 
> I've just opened an account with bullionvault.com se if i can make any money with gold.
> 
> ...


I think its quite high http://goldmoney.com/en/charts/0gbp120.png

I was thinking the same thing the other day but I suppose you need to think will it go up or down or stay the same.

It all depends on the other markets and the value of currency, tough call for anyone.

If you not looking to lose money then it may be a sound investment.


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## Slick 77 (Jun 19, 2007)

I agree with rinns, the curent gold price is quite high almost 900 USD for an oz, I'd be tempted to buy some when the price hits 750-800

http://markets.ft.com/tearsheets/[email protected]


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## rich-hill (May 13, 2008)

Looking at some of the graphs which on there site it looks like a low ish price compared to recent trends. 

At the moment i haven't put any funds into it. Just the 'free' gold they give you. 
Was gonna invest £250-£500 and see what happens. But obviously i need to know a good price to buy at, and whether i should be buying in pounds dollars or euros


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## rich-hill (May 13, 2008)

this is what i was looking at

http://www.bullionvault.com/gold-price-chart.do


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## Slick 77 (Jun 19, 2007)

rich-hill said:


> this is what i was looking at
> 
> http://www.bullionvault.com/gold-price-chart.do


the scales used for the Y axis on the graph are quite small, I tend to look at graphs over a larger period, i.e. 6 months to a year, try having a look at that graph by changing the period


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## rinns (May 24, 2008)

I suppose the weakness of sterling has an effect on the price aswell unless you have euros in a bank account.


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## 1animal1 (Aug 20, 2008)

Gold has only just dropped in recent months from the artificial high when the credit crunch really hit last year.... so what your seeing is most probably top end prices in real terms..... personally i would go for a gold fund like the Blackrock Gold and General as its far less riskier and likely to return better over a shorter period - plus these guys know a hell of a lot more about gold than i do, being offered corporate discounts based on billions being invested.... .doing it yourself will just tie your money up for longer ie making it less liquid - of course you then need to consider the fund price as its not exactly a dead horse like a lot of things at the moment!!


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## rich-hill (May 13, 2008)

1animal1 said:


> Gold has only just dropped in recent months from the artificial high when the credit crunch really hit last year.... so what your seeing is most probably top end prices in real terms..... personally i would go for a gold fund like the *Blackrock Gold and General *as its far less riskier and likely to return better over a shorter period - plus these guys know a hell of a lot more about gold than i do, being offered corporate discounts based on billions being invested.... .doing it yourself will just tie your money up for longer ie making it less liquid - of course you then need to consider the fund price as its not exactly a dead horse like a lot of things at the moment!!


How would i go about investing in these?


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## Slick 77 (Jun 19, 2007)

rich-hill said:


> How would i go about investing in these?


you can buy funds from many banks and specialist companies like Hargreaves and Landsdown http://www.h-l.co.uk/ or www.iii.co.uk but you need to look at the management charges, transfer charges etc, minimum deposit (usually £1000+) etc as they differ from company to company


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## Nickos (Apr 27, 2006)

etf securities is your best bet for a supposed Gold-Backed ETF fund. (This can also be bought in a share investment isa)

coininvestdirect.com for the uber cool physical stuff such as coins, bars, etc.

thebulliondesk.com for live prices and some fancy free news. free 30 day full access trial too if you email them.


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## bigdw (Dec 23, 2007)

i have just sold my gold a few days ago at £19.70, i bought it a few months back at £14.70 ish. dont forget that you have to pay 0.8% commission when you buy AND sell gold and you also pay a basic rate of $4 a month (yes dollars) for owning gold, so always take this into consideration before buying and selling gold.

im not sure this is a good or bad time to buy, but my reconing was that ive made 30% on my investment, and i didnt want to risk leavimg it and loosing it if the price suddenly falls.

think before you buy, its easy to get carried away with it.

P.S i use bullion vault


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## rich-hill (May 13, 2008)

bigdw said:


> i have just sold my gold a few days ago at £19.70, i bought it a few months back at £14.70 ish. dont forget that you have to pay 0.8% commission when you buy AND sell gold and you also pay a basic rate of $4 a month (yes dollars) for owning gold, so always take this into consideration before buying and selling gold.
> 
> im not sure this is a good or bad time to buy, but my reconing was that ive made 30% on my investment, and i didnt want to risk leavimg it and loosing it if the price suddenly falls.
> 
> ...


Yeah i am a little unsure about spending big money online like that.

Hmmm


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## Vyker (Sep 17, 2008)

It would definitely be advised to buy in a currency other then sterling.


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## 1animal1 (Aug 20, 2008)

Vyker said:


> It would definitely be advised to buy in a currency other then sterling.


oh give over, introduce some currency risk for the poor chap whos only just started to think about ploughing money into an already overpriced high risk investment, his monies gonna be locked away long enough as it is without the danger of another factor to stop him pulling out if the time was right....plus sterling would buy you nothing at the moment..... looking into the future its crazy to consider gold as a large part of any portfolio, gold is an asset type that people rush to for safety, that period has gone, next stage will be each asset type picking itself back up, you need to buy when prices are low not when they are topped out......

go wack £1000 in your local pubs bandit....


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## Nickos (Apr 27, 2006)

Vyker said:


> It would definitely be advised to buy in a currency other then sterling.


????

thats a bit too brief imo ? Gold is traded in $ and the only time currency comes into the equation is if you want to trade it back into £.


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## 1animal1 (Aug 20, 2008)

depends what website you use ...but yes ultimately the site would most likely do an exchange calculation based on worse figures than you'd get at bureau de change on the high street, then quote sterling..... and of course you'd have broker fees to add to your gold.... mmmmm sign me up for 30 bars


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