Gold, lost its Glister?

merlingrey

Wild_Rover wrote: »

Hi merlingrey - just wondering - it wasn't clear to me from what you said if you had bought the sovs yesterday for 225, or if "earlier" meant at some time in the past. Which did you mean? Also, if you don't mind me asking, who do you buy them from? Some time ago I was looking at Bullionbypost, but I think the lowest price for 10 2013 sovs I saw yesterday was 233 each.

(BTW that website shows the 2012 out of stock.)

WR

I got them from https://www.goldline.co.uk yesterday (baird&co).

I've also used https://www.thegoldbullion.co.uk and they have free shipping but they are only worth using when you want like 10-20 sovs because that's where the discount is.

Like with this where it is £227 :
http://www.thegoldbullion.co.uk/buy-gold-sovereigns/mixed-sovereign-coins-ten-pack

You cannot order from hatton they don't have any, they do have half krugers though.

Everyone's running out of stock, demand is still high.

sabretoothtigger

Ark_Welder wrote: »

Too early to buy back into gold. The time to buy gold is when there is milk and honey on the streets.

That was 6 years ago, there has to be a another chance after that.
You think this is the total arc to it all?

Not so much of a pot of gold as a dirty puddle

atush

merlingrey wrote: »

You have to take account of currency shifts in the purchase decision you cannot just base it on the dollar.

Gold is £890

Not $1370 @ todays exchange rate, i remember back in 2007 the exchange was $2 -£1 so even $1000 gold was only £500. Back then gold would have had to have hit $1800 to be at todays £ price.

So it does matter obviously.

Actually I can base it on the dollar as I have dollar based assets like property.

But yes, I bought gold way back when there was 'milk and honey' and no one else was (or at least not everyone and their brother)

andy.m_2

only last week I was looking at getting into Sovereigns and Krugers.
I am so glad I was hesitant now!

gazzak_2

Is there anywhere in Hatton Garden that I simply can turn up and buy gold?

merlingrey

atush wrote: »

But yes, I bought gold way back when there was 'milk and honey' and no one else was (or at least not everyone and their brother)

Slight exaggeration individuals have not been buying and institutions hardly loaded up at any time.

The price is based on delivery shifts between countries, joe bloggs down the road buying a krugerrand probably accounts for about 0.5% of the price movement.

At no time did it reach a bubble level like 1980, in 1980 the bubble was so large that the gold reserves outstripped the consumer and national debt, so they could have used the gold to pay down ALL debt and be left with change, the dow:gold ratio was just 1 ounce, and in the 9 years from 1971 -1980 gold went up about 2500%.

2000-present looks like a small blip in comparison.

maryjanell79

Has anyone else noticed how much gold has dropped in the last week!?

Is this a sign of things to come do we think? Apologies to anyone who bought during the peak but I'm watching closely to see how much gold will drop further before buying

atush

Why do you want to buy at all?

sabretoothtigger

Its a form of cash, its more about what you are selling and then preserving that purchasing power for the future.

Its not going to stay the same price tag but you might buy hoping it would maintain a more regular ratio to goods then QE derived money supply could achieve.
We all know about inflation, its not such a pie in the sky argument to take an alternative.
The main split would be to plain cash savings and generally I dont see them combating inflation well.

A mix of all ideas is sensible, the WB idea I wouldnt buy it all so I wont buy any is slightly off for us smaller players. He has a team to manage cashflow every day, we dont. So buy his shares if you like his advice that would be fair.

Finally gold is the normal, we used it at least in small part as backing for cash notes over many centuries, right now not so much. By proxy even in UK upto 1971 this was true. Some adjustment now is reasonable

Paulson seems to be one of the major holdouts against selling

He had to stick with CDO a while also I guess.
His background ten years ago was super boring asset analysis, this all figures then he didnt buy for this years news

[Deleted User]

atush wrote: »

Why do you want to buy at all?

Hi atush - my brother was "into" coins years ago and used to buy low mintage ones, usually silver but he sold them years ago. He is much older than me and when I lived at home I was always too poor to buy any myself. I was at school, or a student then moved very far from home for my first job so by the time I had the money, I was no longer under his "influence".

I have always liked the design of sovereigns, and I am now in a position to buy some, but I won't until I think the time is right, or at least not so "wrong" that I feel like an eejit for buying them.

Interest rates are dire. We have cash in ISAs and we are looking at shares. After working for decades and having a secure monthly pension, I'm thinking "if not now, when?"

That's it really. It would be great to buy low/sell high and build up a collection of "free"ones, but it would really be just like a hobby. I have no master plan that includes gold as a sizeable part of an investment portfolio.

WR