Gold- any investors?

[trident-7]

It’s worth keeping then. I’ll lock it in the safe.


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or have it stuck back on. A new one might cost you £600

[Mr.D]

Physical investment Gold has a couple of advantages.

1. Its VAT free .
2. It will likely never get wiped out as an investment : its always going to be worth something even if you make a loss.
3. It seems to track a number of indexes according to the tinfoil hat brigade. Housing , food etc. So can be used as a hedge .

What I used to do was watch the Nymex mainly and put buy or sell orders into Goldmoney . You get a 5minute countdown with the price fixed so can cancel if the price is going the wrong way or dump at a higher price if the market is in freefall.

I often used to dump at the opening and buy back when the price had dropped. Whilst I made some money this way I barely broke even. Just buying on the dips and leaving it would have been more profitable in the long run. However I judged my get out perfectly to within a day of the market tanking back in 2009. Walked away but you can make some money if you can afford the time to actively watch the NYMEX and to a lesser extent the LME.

Also I found watching the price of silver tended to lead gold by maybe 30minutes or so but there is a lot of tinfoil hat nonsense out there on the forums. Kitco was what I used to watch the market.

I never got into shorting , just buying and selling physical . I made about 25% profit from a £60k initial pot in about two months . I’d probably have made closer to 30% just by sitting back but I doubt I’d gave judged my exit as well without having got my hands dirty for the two months. The market is a different beast now though. I might give it another go.

[damperman]

or have it stuck back on. A new one might cost you £600

Thought of that, but the root has to be removed. Not done bad it’s stayed there for nearly 20 years.


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[trident-7]

Thought of that, but the root has to be removed. Not done bad it’s stayed there for nearly 20 years.


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I've got a pot with nearly a hundred gold crowns in it. I always offer them to the patient but 9 out of 10 times they look at me as if I'm crazy and refuse. I think more people want to keep their extracted tooth than keep their gold crown!

[HookedSeven]

I've got a pot with nearly a hundred gold crowns in it. I always offer them to the patient but 9 out of 10 times they look at me as if I'm crazy and refuse. I think more people want to keep their extracted tooth than keep their gold crown!

Are you a dentist or a debt collector ?

[trident-7]

Are you a dentist or a debt collector ?

Haha, well my skills might come in handy for persuading somebody to comply. It's surprising the number of cancelled appointments or failures to attend we get the day after "Marathon Man" has been on the tv

[Neil.C]

Haha, well my skills might come in handy for persuading somebody to comply. It's surprising the number of cancelled appointments or failures to attend we get the day after "Marathon Man" has been on the tv

LOL!

All those gold crowns, a nice little tip for you.

That said, I'd always keep my gold crown.

[damperman]

Haha, well my skills might come in handy for persuading somebody to comply. It's surprising the number of cancelled appointments or failures to attend we get the day after "Marathon Man" has been on the tv

I remember the film, reminds me I have a dental appointment Friday.


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[trident-7]

LOL!

All those gold crowns, a nice little tip for you.

That said, I'd always keep my gold crown.

It's taken me about 20 years to collect 100 scrap full gold crowns. On the inspiration of this thread I've made enquiries about selling them to Atkinson's & others. Atkinson's asked whether the teeth are still attached. A whack with a lump hammer usually sorts that problem out. Post-extraction of course. I'll post up the result in due course. I might ask for payment in gold coin.

[Mr.D]

It's taken me about 20 years to collect 100 scrap full gold crowns. On the inspiration of this thread I've made enquiries about selling them to Atkinson's & others. Atkinson's asked whether the teeth are still attached. A whack with a lump hammer usually sorts that problem out. Post-extraction of course. I'll post up the result in due course. I might ask for payment in gold coin.

You'd be better off getting the cash , you'll pay spread in both directions if you ask for coin.

[trident-7]

You'd be better off getting the cash , you'll pay spread in both directions if you ask for coin.

I was going to buy some gold coin anyway. Is it still better if I get cash then buy gold coin with the cash later?

[Mick P]

Now is not the time to buy gold, now is the time to sell it and take the profits. A lot of people buy gold at the top of the curve and this is a classic example of that being done.

Now is a good time to have your cash ready and buy into a tracker if the recession pushes the FTSE down.

[damperman]

I remember the film, reminds me I have a dental appointment Friday.


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Been to the dentist today and left my gold crown with them as they collect them then the proceeds go to a charity.


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[33JS]

Now is not the time to buy gold, now is the time to sell it and take the profits. A lot of people buy gold at the top of the curve and this is a classic example of that being done.

Now is a good time to have your cash ready and buy into a tracker if the recession pushes the FTSE down.

Can you expand on that, Mick?

Europe is heading for recession, German output is down, Italian banks may drag Italy back to the Lira, Brexit upon us, China weaponised climate change, Trumps trade war building, etc, etc.

Isn't gold a hedge for the storm?

[catch21]

Can you expand on that, Mick?

Europe is heading for recession, German output is down, Italian banks may drag Italy back to the Lira, Brexit upon us, China weaponised climate change, Trumps trade war building, etc, etc.

Isn't gold a hedge for the storm?

Well, exactly. If you look at goldprice.org you'll see the trend. I'm no expert by any means, but I don't see an environment in which the gold price could crash, quite the opposite in fact.

I look forward to an expansion of your thoughts as well Mick.

[Senninha]

Can you expand on that, Mick?

Europe is heading for recession, German output is down, Italian banks may drag Italy back to the Lira, Brexit upon us, China weaponised climate change, Trumps trade war building, etc, etc.

Isn't gold a hedge for the storm?

I was going to reply to Mick's post that basically I agree with him on the fact, but the timing I feel will be later.

Basically the points you made I agree with - then add in Deutsche, the obligations to French and Italian banks - how the hell Italy will support their banks when they're in breach of EU rules already. How the EU will support Italy when their balance sheet is in tatters already thanks to QE. A central bank can never go bust - but the weapon they could use is highly supportive of precious metals.

That said;
Gold pays nothing. It's great in a crisis, but there will be a time to switch from gold back to assets that pay something.
The same thing which powers gold will firstly crash stocks, but will then likely feed through into another 'everything bubble'. If it doesn't, and gold is the only safe haven, then capitalism is buggered anyway, and even holding gold won't be much use.

There's pretty much a bubble in everything now - we see watches, but classic cars, stocks, whisky property, wine - anything that has a price tag and fairly scarce is rocketing in value. Another way to say that is currencies are falling in value. Temporarily that will stop - and gold and cash will be good things - but I doubt that period will be for long, and then timing to transition back to growth assets.

A stock market crash could be a January sale....

[D3ckard]

But, why has he only got four fingers?


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[Franky Four Fingers]

But, why has he only got four fingers?


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I make stupid bets with dangerous people

[Sweepinghand]

Now is not the time to buy gold, now is the time to sell it and take the profits. A lot of people buy gold at the top of the curve and this is a classic example of that being done.

Now is a good time to have your cash ready and buy into a tracker if the recession pushes the FTSE down.

What he said