How To Buy Gold Now
Monday, March 22nd, 2010 at
11:33 pm
Digging for Gold with thestreet.com. Debra Borchardt and Alix Steel tell investors their gold-buying options in the middle of this financial mess.
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Filed under: Gold
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i weighed how much gold I have from jewlery at home and …it was nearly 1/2 a pound, that included all chains, earings, watches, bracelets but also their diamonds….we might have to get a safe deposit box…
biggs9187
just for fun run your 8 ounces of golld down to the local gold dealer & see if he will give u $9000 for it or only $3160
That is assuming u have 8 Troy oz & not 8 Avoir oz
You don`t have to sell it to him just ask him how much he will give u
Gold may be at $1130 bucks today but the gold buyers only give u 60% of melt & most of your jewlery is 14K with some 10 K & maybe some 18K. On average it is proably all 14K
# of Troy oz. x 0.6 x 14/24 x 1130 = $
& they give u paper money
ChrisP
What are you trying to pedal all the time to the voters out there
TWO MONTHS AGO on Dec 2nd 2009
Gold was $1208.75
the US dollar would buy only .664 Euro
TODAY March 4th 2010 (2 months later)
Gold has fallen to 1136
The Us dollar will buy .732 Euro
GOLD IS DOWN 6% in 2 months
The dollar is up 10% in 2 months
The combined total for the dollar over gold is 16%
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I am Australian & against commodity currencies like the Au$ the US$ is down down down. You have carefully chosen to quote gold at the peak prior to IMF dumping over 403.3 metric tons of gold onto the market. At the same time you are comparing US$ to the Euro as one of its member nations Greece goes under & Spain, Italy, Portigual follow. We will see what happens now the IMF can no longer supress the price of gold by dumping on the market & while debtor nations like the US print more money.
And now Gold is at $1134, another 4 days later. Wow you are truely ignorant if you cant see a pattern.
Chris P
re-read my comment
it was not 4 days ago it was Yesterday the 4th and said gold was at 1136
if gold is now 1134 as you said in your comment one hour ago then gold is down even further than it was yesterday! ! ! ! !
Give be any currency you want to compare the US dollar to and I will post the quotes right here TODAY but you gotta get me what ever currency you will be happy with
The dollar is up over the last 2 months against all currencies. I used just used Euro as an example
So I just checked the NY ex. 1 minute ago 10:40 AM 3-5-10 and gold it at the high for the day.
it has been as low as $1,130 an hour ago and is now at the high for the day of $1,139.
The whole problem is that it is a gamble from day to day. Real Estate is down now at the bottom
Buy a piece of rental Real Estate and make some real money for yourself instead of gambleing you life away on the market
3 hours later ChrisP & gold is back down below the open today
I am still waiting for the currency type u feel confortable with & I will look up its value against the Dollar
What u are ignorant about is that there are sharks in the water who trade currency all day long and if any currency is out of sink with the rest of the world they will be on it RIGHT NOW
so is does not matter if you use the Euro or the Peso, Pound or Rubel the Dollar is up against all currency world wide since Dec 2nd
@anyname666 Dear Mr Anyname.
If you truely want to understand WHY gold has to skyrocket eventually Google
“imf gold sales v the alchemy of gold futures”
Read the article titled
IMF Gold Sales v. the Alchemy of Gold Futures Whats the Impact on Gold Prices?
Your not stupid and I know you will understand
Chris P
Will do!
but not until tomorrow
I will comment in a few days
YOU never did say which currency you wanted me to compare the US dollar with
come on now
be fair
if you are going to make bold comments you have to back them up.
currency please
Yes I did, I said Au dollar meaning Australian Dollar. The US $ has been in steady decline against the Australian $ for quite some time. I can remember when it was only worth around 60c US now it is at 90.08c US.However I do see your point, most other currencies are in as bad or worse condition that the US$ due to the same problem, run away debt. This only proves my point that all fiat currencies are doomed to failure. National governments are not to be trusted, gold is honest money.
Irrespective of what may or may not have occurred 100 years ago or 10 years ago
This is the way it has been for the past 3 months
On Dec. 3, 2009 one US dollar would buy 1.0876 Australian dollar
& on March 3, 2010 one US dollar would buy 1.1135 Australian dollar
A difference of almost 3% in favor of the US dollar against the Australian Dollar
Not as dramatic a rise as it was against the British pound but still the US Dollar moved up against the AU dollar AND every other currency world wide
Once again you are very selective with the dates and time frames you quote, but none the less I am not or have ever argued in favour of any currencies. What I argue is that currencies have to be pegged to SOMETHING real to stop the fraud that is now happening, where the government can just print or bring into existence new money which devalues and errodes the value of real money which people have worked hard to earn and save. Gold has always been that store of value reconised globally.
Chris P
click me in as a friend – I requested months ago
then I will send you one 2 page message
and if you think it is all BS you can unclick me as a friend.
The message is way to long to break down into 500 charicter comments
later
Just send as a personal message and I will read.
Did you read the article I sent you.
IMF Gold Sales v. the Alchemy of Gold Futures Whats the Impact on Gold Prices
What do you think about the obscene short positions held by Commex & banking industries globally?
When sellers can no longer meet physical demand. Physical gold will decouple from the futures market, then the charade will be over, who will buy futures when the vaults are empty & the US will have a new list of cheats to bail out.
you have a FRIEND LOCK on your site and only your friends can send you a personal message
either you have to make me a friend or unlock your message thingy
Being as selective as I could possibly be about the dates I pick
I pick today 3-8-10 at 5:10pm New York time to report that
OOOOOOPssss!! what happened.?? Gold is down 1% for the day
Amortized over 90 days that is 90% in 3 months (thats how you guys calculate when it is on the way up, isn`t it??).
Anyway GOLD is down $11.10 today I wonder which way I should bet & gamble it will go tomorrow. In the mean time real estate is showing a slight gain with reoccurring interest from the voters.
Yes the paper version of gold is down, but if I order gold from the Perth mint delivery of physical gold is out to nearly 2 months. Wonder why that is? It is worse for Comex orders. Physical gold is decoupling, It doesnt matter how cheap gold gets once it can no longer be physically supplied the price will skyrocket. I can see this happening now. The shares in the gold mining company I own have gone up at the same time as the gold price goes down.Why because a mining company doesnt sell paper.
Did you read the article I sent you? Be fair I answered your questions.
My gold shares are up 14.8% and 121.7% in 22 months as well as the dividends currently averageing 4%.
Has your real estate portfolio done that, you should be ready for the next round of defaults with commercial and alt As, subprime was just the start. Time will tell but one thing is sure I can liquidate my portfolio within minutes if something changes, Realestate cant do that now can it.
Very interesting J.P.Morgan will get the call just before the boom in gold. J.P.Morgan just announced they became a substantial holder in a small cap Canadian/Australian gold miner OceanaGold (ASX OGC). They bought at between $0.15 & $1.80 max its now at $2.71 on a min of 10,130,000 shares 5.45 % of stock. Thats a min of 50.55% profit or $9,218,300 max of 25,932,800 in just over 2 months
& they still havent sold WHY? They have substancial holdings in at least 3 other Australian gold miners.
ChrisP
just got back in town
Missed all the action
I see gold took a spike today of $10 a few hours ago
in the mean time my handyman bought 2 houses on one lot for $80 thousand and the rent from one house will more than pay the Mort. on both houses. Major monthly profit for him
No I did not read your stuff yet but I will
I see we are sill not friends
Good luck (i mean it) tieh your gold stocks
NEVER be afraid to take a profit. Remember the pigs get slaughtered.
Pigs You mean Portugal Italy Greece & Spain. All going bankrupt. The Euro should be in the dust bin before the Pound & US$. This should be temporarily positive for the US$. This still doesnt mean I want to back any horse that is running backwards. Good for your handyman,he was sensible to be liquid enough & credit worthy enough to take advantage of such an opportunity. Property is still a bubble here in Australia we are more personally indebted than the US citizen & interest rates are rising.
testing testing testin
OOOps gold down $30 since the same time on friday
Hope you did not by Friday midday because you lost 3% by same time Monday.
Great post
I know how profitable gold investing can be. My brother made really good money doing just that, and myself I am making good money investing in gold.
I recommend to anyone who’s thinking of starting to invest in gold to read a book or two on this topic, as there so many mistakes and blunders that are possible to make when you first start in this industry.
Thank you for sharing this with your us.