Big dip for gold?

DiggerUK

Housebear51 wrote: »

........When to pull the trigger?........

Won't have funds from maturing certificate till middle of August. Which is reason for my attention on current dip, fingers crossed that it keeps down till funds to hand.
Will take decision when funds available as to how much we buy.
C'est la vie.

Edit, under 775GBP as I write.

sabretoothtigger

Post up a big graph of sterling gold price ? I only ever see it in dollars

turbobob

Here's the sterling Physical Gold ETF with 50 and 200 day MA's.

And spot gold (there might be a clearer one but all I can find at the moment)

DiggerUK

sabretoothtigger wrote: »

Post up a big graph of sterling gold price ? I only ever see it in dollars

http://goldprice.org/gold-price-uk.html

OK graphophile, lots of them, going back nearly 40 years.

Another 10 quid down at nearly 770GBP an ounce.
So glad the banks ain't overstressed.

Loopgames

I too hope they stay low for a bit longer..just transferring my pension into a SIPP with bullion gold as its destination...:D

DiggerUK

Loopgames wrote: »

I too hope they stay low for a bit longer..just transferring my pension into a SIPP with bullion gold as its destination...:D

Some who follow charts have called as low as 727 an ounce for late August.
Bit doubtful myself of that call. My tea leaves saying 750>
Anyway charts are not my speciality, but it is pleasing to the ear to hear that low when you want to buy.

You say bullion in your SIPP, I am reading that as a paper gold holding in your pension, yes?
Let us know how you invest, I know it can be done, just not 100% on the nuts and bolts of such an arrangement.

Take care.

Loopgames

bullionvault.com claim it's solid gold in vaults that you're investing. And you can take it out if you reserve the bar and take it out physically from the vault.

So bullionvault.com is, imo, physical purchase of gold. You can hold it in your hand if you have enough gold reserved to take the whole bar.

DiggerUK

Loopgames wrote: »

bullionvault.com claim it's solid gold in vaults that you're investing. And you can take it out if you reserve the bar and take it out physically from the vault.
So bullionvault.com is, imo, physical purchase of gold. You can hold it in your hand if you have enough gold reserved to take the whole bar.

Problem I have with BV is that they are wordsmiths, not my fave company. Charges for releasing physical mean you may as well have bought physical in the first place. Last time I looked you could only get 400 oz bars anyway.
Which is not allowed with private pensions.
25% tax free cash, rest has to be annuity or some other dodgy deal via an IFA.

I know you can hold gold that "cannot be taken possession of and used as a "pride in possession" article" in a SIPP, but no other way. Get back to me if I need to be updated.
http://www.goldcore.com/research/gold_pension

MikeJ74

If you want it for your pension why not just buy the physical metal? Store it yourself then start selling at the top of this bull market?

Loopgames

DiggerUK wrote: »

Problem I have with BV is that they are wordsmiths, not my fave company. Charges for releasing physical mean you may as well have bought physical in the first place. Last time I looked you could only get 400 oz bars anyway.
Which is not allowed with private pensions.
25% tax free cash, rest has to be annuity or some other dodgy deal via an IFA.

I know you can hold gold that "cannot be taken possession of and used as a "pride in possession" article" in a SIPP, but no other way. Get back to me if I need to be updated.
http://www.goldcore.com/research/gold_pension

I completely agree with you in respect to SIPPs and any pension scheme tbh. I just have a small pot from a preserved pension that I am going to play with:D..who knows - I may be able to turn my £10k into £100k or nothing...hehe..bit of a gamble but it's just enough for me to learn about investment as I know diddly squat to the shock horror of some IFAs when I tell them about this.