TESCO Buying Gold! omg they are tin foil hatters too!

Linton

WhiteHorse wrote: »

Accounts can be made to say anything. Paper profit and a line of credit do not add up to much when it comes to the crunch.

There are plenty of signs that there is not quite the amount of liquid cash in the business that they would like the market to suppose.

Nor are Tesco the only large company to be in this situation.

What signs do you see???

ISTM with millions of people all over the world paying cash into Tesco every day, cash flow shouldnt be a problem.

WhiteHorse

chucky wrote: »

... gold is a little bit different, it's virtually become a currency in itself ...

Priceless.*

Like gold is not the only truly exchangeable international currency and hasn't been so for thousands of years?

*No pun intended.

WhiteHorse

ViolaLass wrote: »

In what way exactly is Tesco a Jewish company?

Um. You do remember the 'Lady Tesco' scandal and the flight to Israel, don't you?

wotsthat

WhiteHorse wrote: »

Nor are Tesco the only large company to be in this situation.

£1.6bn profit in 6 months and £2.8bn cash in the bank and you think they are in trouble?

DiggerUK

lvader wrote: »

Are they keeping the gold or simply selling it on for a tidy profit?, I'm guessing the later.

Whilst Tesco offer "£7.81 a gram for 9-carat gold", Hatton Garden Metals will pay £10.35 per gramme.

purch

Tesco is a Jewish company

Every forum needs a thick bigot.

Welcome.

ViolaLass

WhiteHorse wrote: »

Um. You do remember the 'Lady Tesco' scandal and the flight to Israel, don't you?

Nope, no idea. Don't even know if you're joking.

wotsthat

DiggerUK wrote: »

Whilst Tesco offer "£7.81 a gram for 9-carat gold", Hatton Garden Metals will pay £10.35 per gramme.

Say Tesco buy at £7.81 and sell at £10.35 that's a 30-odd percent margin. This is actually quite low for Tesco.

They must be getting a better price than £10.35 when they sell it on. I suspect that their partner guarantees to support the Tesco margin even if the gold price falls between taking in the gold and moving it on. It will be high margin and low risk.

DiggerUK

wotsthat wrote: »

Say Tesco buy at £7.81 and sell at £10.35 that's a 30-odd percent margin. This is actually quite low for Tesco.....

Bairds prices are higher at £10.51, but they only buy off the trade, not public, so don't go sending them Auntie Thelma's old teeth.

Edit; I suspect it will be a franchise that Tesco's will be allowing to operate from their store. Has anybody seen one in a Tesco yet?

wotsthat

DiggerUK wrote: »

Bairds prices are higher at £10.51, but they only buy off the trade, not public, so don't go sending them Auntie Thelma's old teeth.

Too late. She used to be called Auntie Selma before we sent her teeth in.