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Forex and Gold/Silver bullion Trading

EU approves next tranche of funding for Greece.

Kicking the can down the road.
 
KingKhanWC said:
http://www.guardian.co.uk/money/2011/jul/01/au-atm-gold-vending-machine

One must be very silly to buy at vending machine prices.
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Interesting link! Thanks!

25% over the spot price is a massive spread to be paying. Better off buying off E-bay! (not really). I guess the machine is designed for sheeple who have no clue as to where to purchase Gold bullion from. Plus I think the machine accepts credit cards which is a novelty in its own right as Gold and Silver bullion cannot be bought using a credit card from Bullion Merchants.
 
Namak_Halaal said:
Interesting link! Thanks!

25% over the spot price is a massive spread to be paying. Better off buying off E-bay! (not really). I guess the machine is designed for sheeple who have no clue as to where to purchase Gold bullion from. Plus I think the machine accepts credit cards which is a novelty in its own right as Gold and Silver bullion cannot be bought using a credit card from Bullion Merchants.
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They come out in a nice presentation box. Even if people are buying at vending machine prices they can still be confident of not losing value on their purchase in the long term so it makes a good present to give. Giving a woman a gold bar would almost certainly get you a fun night. :)
 
NH, how are you viewing the credit downgrade of Portugal. I'm thinking of initiating a short position in Euro, so asking. The trend line seems to hold.
 

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Or it could break either up or down. "explosive" situation, either up or down seems to wait for this.
 

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Stylish Executive said:
NH, how are you viewing the credit downgrade of Portugal. I'm thinking of initiating a short position in Euro, so asking. The trend line seems to hold.
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Credit rating agencies are abusing their power to strengthen the $ (because they cannot raise interest rates at the moment). Ireland is most certainly next, along with Italy. Greece on the other hand have simply kicked the can down the road and will probably default within 12 months, if not sooner. The yields on PIGS bonds are rising fast and furious making it more expensive to borrow from the markets and the ECB hike in interest rate didn't help either. It's a pretty grim situation.

From what I am reading, the EUR is heading towards parity with the $.

I'm shorting EUR/USD, stop at 1.6000 with a limit at 1.2000 (rolling contract), and have a PUT Option at 1.0500

Having said this, once the PIGS situation subsides, EUR will climb back, but I feel we have to wait for about 3 years or so.
 
Namak_Halaal said:
Credit rating agencies are abusing their power to strengthen the $ (because they cannot raise interest rates at the moment). Ireland is most certainly next, along with Italy. Greece on the other hand have simply kicked the can down the road and will probably default within 12 months, if not sooner. The yields on PIGS bonds are rising fast and furious making it more expensive to borrow from the markets and the ECB hike in interest rate didn't help either. It's a pretty grim situation.

From what I am reading, the EUR is heading towards parity with the $.

I'm shorting EUR/USD, stop at 1.6000 with a limit at 1.2000 (rolling contract), and have a PUT Option at 1.0500

Having said this, once the PIGS situation subsides, EUR will climb back, but I feel we have to wait for about 3 years or so.
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Thanks NH for your opinion. I'll adjust my leverages accordingly, with a short bias. :)
 
Top officials of the European Council, the European Central Bank and the European Commission will hold an emergency meeting Monday to discuss the possibility that the debt crisis could spread to Italy from Greece, according to a media report Sunday.

The meeting comes in the wake of the sharp sell-off in Italian assets on Friday, Reuters reported, citing three unnamed official sources.

On Friday, Italian government bond yields jumped, as did the cost of insuring Italian sovereign debt against default, as worries grew over Finance Minister Giulio Tremonti’s possible exit.
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Lots of art and historical things in Italy, they could start selling off some of that stuff.

What do you think they could get for the Colosseum, granted it's not in the best shape, but still.
 
NH, why do you think gold has gone up wildly in the last decade? I mean what are some things that weren't happening in the 90s, but started happening in the 2000s? The gold standard was set in the 70s.

gold_30_year_o_b_usd.png


That looks so much like a definition of a 'bubble', it scares me.
 
slix10 said:
Lol he meant drastically. Drastically go up or down.
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I urge you not to confuse KFC_Zinger anymore than he is on economics/trading.

slix10 said:
NH, why do you think gold has gone up wildly in the last decade? I mean what are some things that weren't happening in the 90s, but started happening in the 2000s? The gold standard was set in the 70s.
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Gold standard was abolished in the 70s and this meant government could now print currency without any control over the limit to what they could print.

M3 is known as money supply in US economics. During the 80s/90s there was a control on M3 via interest rates, and inflation wasn’t a worry. This meant that Gold was seen as less of an inflation hedge and even less of a safe haven. With the $ being the world’s reserve currency, there was very little movement on Gold. However, as the dot.com bubble peaked in 2000, M3 increased and this triggered an initial movement in Gold. What really kicked it off was 9/11.

After 9/11, the markets were stuck in a phase of fear, quite naturally, Alan Greenspan (then Federal Reserve Chairman), thought that by lowering interest rates he could boost the US economy. That he did. The result of this was cheap money, credit boom, and the 00 boom in property markets. The result was M3 increased rapidly and Gold moved upwards.

Fast forward to 2008 when Lehmans collapsed, there were so many $ in the market but US debt was going through the roof. Bailout after bailout meant that more $ were needed and thus more $ in the system pushed the value of USD lower but pushed the price of Gold even higher as an inflation hedge but more importantly as a store of wealth (Purchasing power).

Until Interest rates are high, inflation is low, Gold will continue to ascend not only as an inflation hedge but as a preserver of wealth. By the way, USA no longer published M3 figures.



slix10 said:
gold_30_year_o_b_usd.png

That looks so much like a definition of a 'bubble', it scares me.
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The price of Gold is not actually in a bubble, but currencies are in a bubble. To illustrate this point, prior to Weimar Germany, Gold was priced around $30 in USA and about 40 Marks in Germany, but then, hyperinflation kicked in, forcing the price of Gold into the Billions Marks, but across the Atlantic Gold remained around $30/oz. Point being, Gold didn’t move up in the USA, but because the German Mark was battered, Gold moved up in Germany. So in essence Gold is a reflection of the strength of a currency in the respective, and even the state of the economy.

A good example these days is if you look at Gold in Swiss Franc (strong currency) and compare to Gold in GBP, EUR or USD, there is less movement in Swiss Franc price compared to record breaking prices in GBP/EUR/USD, as these three currencies weak.

I would expect Gold to make some sharp moves on the way down, but this will be primarily due to fear. In the long run, more $ will be printed, thus more in the system, thus USA decreases in value ultimately pushing the price of Gold up.

The other main thing to remember is that the psychology behind Gold has reverted to old skool thinking, in that now Gold is perceived as a monetary tool as it used to be.

Hope this helps! :)
 
N-H bro....love reading ur post in this thead.....so easy to follow..

keep informing

salam
 
^No problem brother!

SE, please tell me you had your EUR/USD short position open? EUR/USD down a cool 220 pips! :)
 
Namak_Halaal said:
^No problem brother!

SE, please tell me you had your EUR/USD short position open? EUR/USD down a cool 220 pips! :)
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Oh, yes, I'd opened today. It seems to have pierced the trend line downwards. Though I couldn't capture the whole gain - around 80 pips on average till now. Shorting price was 4.200, openedjust after the gap down.

Thanks brother! :)
 
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Stylish Executive said:
Oh, yes, I'd opened today. It seems to have pierced the trend line downwards. Though I couldn't capture the whole gain - around 80 pips on average till now. Shorting price was 4.200, openedjust after the gap down.

Thanks brother! :)
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No problem bro, any time!

Options indicating touch price of 13700 for this month, that's if you do decide to leave the position open till the end of the month. I am in till the 21st DEC. :)
 
Helicopter Ben does it again!

The Dow, S&P and Gold are all up by give or take one percent today in terms of the dollar but the dollar is down a matching amount against the Swiss Franc. Forget the Euro and associated DXY index because they have their own Greek/Italian issues. So what does that tell us? Not that Bernanke's done something good for the markets but that he's dealt another blow to the $.

Looks like QE3 is around the corner, as a result, $ sinks, pushing EUR, GBP around 200 pips!

- Gold smashes into all time record breaking territory - $1585/oz

- Gold sets new reocrds in GBP too, at £984/oz

- Silver up 5.5%

:)

PS: I'm still shorting GBP and EUR till end of DEC.
 
Namak_Halaal said:
Helicopter Ben does it again!

The Dow, S&P and Gold are all up by give or take one percent today in terms of the dollar but the dollar is down a matching amount against the Swiss Franc. Forget the Euro and associated DXY index because they have their own Greek/Italian issues. So what does that tell us? Not that Bernanke's done something good for the markets but that he's dealt another blow to the $.

Looks like QE3 is around the corner, as a result, $ sinks, pushing EUR, GBP around 200 pips!

- Gold smashes into all time record breaking territory - $1585/oz

- Gold sets new reocrds in GBP too, at £984/oz

- Silver up 5.5%

:)

PS: I'm still shorting GBP and EUR till end of DEC.
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Why?
 
Namak_Halaal said:
Inverse relation between the currency pairs.

GBP/USD & EUR/USD

If USD moves up, then GBP and EUR would move down against USD.
If USD moves down, then GBP and EUR would move up against USD.
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I wasn't clear in asking question.

If you think that USD going to sink and EUR/G would go up by 200 pips in Q3, shouldn't you be going long for pair EUR/USD instead of short?
 
Black Zero said:
I wasn't clear in asking question.

If you think that USD going to sink and EUR/G would go up by 200 pips in Q3, shouldn't you be going long for pair EUR/USD instead of short?
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Firstly the EUR and GBP went up by around 200 pips, today, Q3 ends in SEPT. The reason being that Helicopter Ben indicated QE3 (Quantitative Easing) as a resort to bolstering the economy. More $s in the systems means less value of $s which is why both EUR and GBP show up. Today’s movement was all psychology, given the recent sell off in markets.

Today was a blip in the grand scheme of things. Euro-geddon (PIGS debt) is far from over. Austerity in UK is kicking in; this will send the GBP lower, sub 15000.

The fact of the matter is that rating agencies in the US are toying with Europe. Greece, Portugal, and Ireland are now rated as Junk. Any bond yield rated above 7% is considered unsustainable. This is how the US is bolstering the USD against EUR while interest rates in USD are close to zero – currency is the weapon of today.

I would say one thing, do not be fooled by daily movements; do not be fooled by peaks and troughs, one simple fact, the trend is your friend.

USD will weaken in the long run for sure, but I feel in the Q3 and Q4 the DXY will shoot up as part of the manipulation orchestrated by Wall Street Fraudsters. 2012 will see a European default, 2012 to 2015 will see more. When all is said and done, USD will plummet, signifying the end of the American Empire.

Gold is the ultimate indicator of economic health – that is all that matters IMO.
 
Namak_Halaal said:
Firstly the EUR and GBP went up by around 200 pips, today, Q3 ends in SEPT. The reason being that Helicopter Ben indicated QE3 (Quantitative Easing) as a resort to bolstering the economy. More $s in the systems means less value of $s which is why both EUR and GBP show up. Today’s movement was all psychology, given the recent sell off in markets.

Today was a blip in the grand scheme of things. Euro-geddon (PIGS debt) is far from over. Austerity in UK is kicking in; this will send the GBP lower, sub 15000.

The fact of the matter is that rating agencies in the US are toying with Europe. Greece, Portugal, and Ireland are now rated as Junk. Any bond yield rated above 7% is considered unsustainable. This is how the US is bolstering the USD against EUR while interest rates in USD are close to zero – currency is the weapon of today.

I would say one thing, do not be fooled by daily movements; do not be fooled by peaks and troughs, one simple fact, the trend is your friend.

USD will weaken in the long run for sure, but I feel in the Q3 and Q4 the DXY will shoot up as part of the manipulation orchestrated by Wall Street Fraudsters. 2012 will see a European default, 2012 to 2015 will see more. When all is said and done, USD will plummet, signifying the end of the American Empire.

Gold is the ultimate indicator of economic health – that is all that matters IMO.
Click to expand...

Thanks.....so I'll keep an eye and see if your predictions realize.
 
Black Zero said:
Thanks.....so I'll keep an eye and see if your predictions realize.
Click to expand...

GBP/USD heading south of 15000 before 21st DEC 2011.
EUR/USD heading south of 12000 before 21st DEC 2011.
EUR/USD parity by end of 2012

:)
 
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Namak_Halaal said:
^No problem brother!

SE, please tell me you had your EUR/USD short position open? EUR/USD down a cool 220 pips! :)
Click to expand...

I got 96 pips off that. :)

Also got some pips from XAU/USD last night.

NH how do you keep positions open for so long? (6 months) Are you using options or are you not using any leverage at all?
 
slix10 said:
NH how do you keep positions open for so long? (6 months) Are you using options or are you not using any leverage at all?
Click to expand...

I never use leverage but always use controlled risk. For FX positions I tend to have a 2000 PIP stop (guaranteed). My contracts are rolling, so once the period expires it simply rolls over to the next period.
 
IG markets opened.

Gold just opened 1% 15pts up @ 1616
DJIA down 1% 120pts @ 12562

US Debt talks responsible for this.

When DJIA opens -100, it tends to mean bad news.
 
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US might default or raise debt ceiling on AUG 2 (in a week).....

GOLD is gonna skyrocket no matter which one happens???

any advice......Buy Gold now??

i don't wanna buy Gold Bullion (security hassle etc.).....i wanna buy Gold stocks......how do i do that?

i'm thinking about opening an account with etrade.com (USA).......any advice will be appreciated
 
LethalSami said:
US might default or raise debt ceiling on AUG 2 (in a week).....

GOLD is gonna skyrocket no matter which one happens???

any advice......Buy Gold now??

i don't wanna buy Gold Bullion (security hassle etc.).....i wanna buy Gold stocks......how do i do that?

i'm thinking about opening an account with etrade.com (USA).......any advice will be appreciated
Click to expand...

Salaam dude. Apologies for the late response, totally absorbed by ENG/IND series at the moment.

The AUG 2 deadline is political theatre at its best. The USA cannot restrict the debt limit as per US constitution. The debt limit will be raised, but this is bad news for the $. Raising the debt ceiling is proportional to printing $. The reality is the Republicans are looking for cuts, whereas the Democrats are looking to spend their way out of this mess. The truth is, neither is correct, as the $ is eventually toast.

This means that buying Gold Bullion is the only way forward. You must preserve your wealth and given a currency war is in full affect, Gold is the best option.

I would always recommend buying Gold Bullion. I live in London, and for me bullion is the best as it is VAT free, and the best option over ETFS, but this is my personal view. As for Etrade, I am not familiar with Etrade itself, but I guess it is no different to IGindex trading platform.

If you do not want to buy bullion, then I would suggest the following:

1- Work out how much you want to buy (250g as minimum suggestion)
2- Open an E-trade/IG Index account and open a Long position on GOLD Comex that is the equivalent to 250g Gold (£8 per point if you are based in the UK, $16 per point if based in USA)
3- Reap the rewards.

The main thing to remember is that if you do not own Gold Bullion, and Gold drops in value, then your positions will turn into a loss.

My suggestion, Buy Gold bullion AND open a trade.

Hope this helps.
 
US House cancels votes!

Not enough support for the bill!

Markets showing red across the board!
 
Though ATM the drops are not that big (~1%). I wonder how much will the US markets drop tomorrow. And let's not even think about the point when the credit rating will be downgraded. :/
 
Gold smashes into record breaking territory setting all time highes in £ and $.

Gold at $1652

Silver not moving as high, $40.62
 
Gold price was around 1450 when this thread first started I think.

Good call NH!
 
Russia has now warned the dollar is not a viable currency any more. Keep your gold in your pockets the time is getting nearer and nearer.
 
KingKhanWC said:
Russia has now warned the dollar is not a viable currency any more. Keep your gold in your pockets the time is getting nearer and nearer.
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Indeed!

Meanwhile Chinese credit-rating agency Dagong Global downgraded U.S. sovereign debt and warned of further such moves.

$ is toast.
 
NH.......thank you brother for ur advice..............really appreciate it..

i was/am waiting for gold to come down to $1500/ounce range but it keeps going up and up.....now @ $1666........

chances of it coming down to 1500-1550?? or i should just jump in @ 1600+ coz its not coming down??

me being greedy :(
 
LethalSami said:
NH.......thank you brother for ur advice..............really appreciate it..

i was/am waiting for gold to come down to $1500/ounce range but it keeps going up and up.....now @ $1666........

chances of it coming down to 1500-1550?? or i should just jump in @ 1600+ coz its not coming down??

me being greedy :(
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There is a very good chance Gold can hit 1350 in the second half of this year, only to move on upwards next year, plus a reaction to 1550 is very possible. You need to remember when a proce rockets, it will correct as fast.

I would personally buy some now, then hold on till end of September.
 
Eagle_Eye said:
I have just one .... very small for now... I do have plenty that I am watching.


I do have the silver long etf... yoyo-ing and not quite following like gold trend...
Click to expand...

Dump your mining stocks.

Hang on to that Silver ETF if you can brother, Silver is heading to $50, then on to $100 next year.
 
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Italy 'to default' but Spain may 'just' escape

Debt-laden Italy is likely to default, but Spain might just avoid it, according to the British think-tank, the Centre for Economics and Business Research.

With the countries weighed down by debt, the think tank modelled "good" and "bad" economic scenarios for both.

It found that Italy will not avoid default unless it sees an unlikely big jump in economic growth.

However, it said, "there is a real chance that Spain may avoid default".

Even though Italy has managed to run tight budgets, and has vowed to eliminate its deficit by 2014, the economy needs a significant boost in growth.

But its economy grew by just 0.1% in the first quarter of 2011 and further growth is expected to remain sluggish.

On Wednesday, Italian Prime Minister Silvio Berlusconi addressed parliament, saying the economy was "strong" and the nation's banks "solvent".

But many economists believe that the eurozone's third largest economy risks being engulfed in the debt crisis.

In a report published on Thursday, the CEBR calculated that Italy's debt would rise from 128% of annual output to 150% by 2017 if bond yields stay above the current 6% and growth remains stagnant.

"Even if the cost of borrowing goes back down to 4%, the growth rate is so anaemic that we see the debt-GDP ratio remaining at 123% in 2018," said Doug McWilliams, the CEBR's chief executive.

The conditions in Spain are better because its debt is much lower. Even under the "bad" scenario, Madrid's debt ratio would climb to no higher than 75% of national output.

"Fingers crossed but there is a real chance that Spain may avoid default and debt restructuring, unless it gets dragged down by contagion," Mr McWilliams said.

"Realistically, Italy is bound to default, but Spain may just get away without having to do so," he said
Click to expand...

CLICK HERE

Euro is toast too.
 
Dow industrials down 350+ points as stock selloff intensifies! 2011 gains wiped out!

FTSE ripped to shreds!
GBP/USD down!
EUR/USD down!
Silver down!
Gold is UP!
 
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Carnage - Gold gains for today - Wiped out!

Gold is now taking a hit - this is serious stuff now!
 
Eagle_Eye said:
The real carnage is on the AIM and especially the junior Oilies!!
Click to expand...

Yeah, I noticed GKP on AIM took a 17% hit today and touched 86p!

Markets are going to tank further.

Gold is trading in negative territory now.

Bad moon rising.

QE3 round the corner for sure now.
 
DeadlyVenom said:
These are not times for the faint hearted :))
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Not if you are shorting.

My GBP/USD and EUR/USD positions performing very well for the past week! :D

Plus falling GBP/USD pushes Gold Bullion in £ up! :D
 
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what a day, lols more than half (about 52% or 53%) of my portfolio in cash now, got out of some medium term holdings when the markets came close to dropping below 5500.

shame abt italy, hw will silvio fund his bunga bunga parties, cant wait for qe3 should be fun.

whos the pic of nh, i liked the einstien pic better.
 
ElRaja said:
what a day, lols more than half (about 52% or 53%) of my portfolio in cash now, got out of some medium term holdings when the markets came close to dropping below 5500.
Click to expand...

The beauty of trading! You can profit on the way up and on the way down.

ElRaja said:
shame abt italy, hw will silvio fund his bunga bunga parties, cant wait for qe3 should be fun.
Click to expand...

QE3, QE4, QE5, and so on, all good news for Bullion holders.

ElRaja said:
whos the pic of nh, i liked the einstien pic better.
Click to expand...

Jonathan Liew - the guy who brought India to its knees over a Tendulkar article.
 
Namak_Halaal said:
The beauty of trading! You can profit on the way up and on the way down.



QE3, QE4, QE5, and so on, all good news for Bullion holders.



Jonathan Liew - the guy who brought India to its knees over a Tendulkar article.
Click to expand...

lols, i rem now. fair enough he deserves to be there i guess.
 
DJIA drops 500 points!

Pure carnage on Wall Street, sorry, Blood Street!
 
Holy schmoly!! It's time to act on those mental stop losses. I have about 1500 to spare but for a very very short term. Any recommendations for making a quick buck just from this fall?
 
RWAC said:
Holy schmoly!! It's time to act on those mental stop losses. I have about 1500 to spare but for a very very short term. Any recommendations for making a quick buck just from this fall?
Click to expand...

Short EUR/USD
 
REUTERS BREAKING NEWS: U.S. loses AAA credit rating from S&P

The United States lost its top-notch AAA credit rating from Standard & Poor's on Friday, in a dramatic reversal of fortune for the world's largest economy.

S&P cut the long-term U.S. credit rating by one notch to AA-plus on concerns about growing budget deficits.

U.S. Treasuries, once undisputedly seen as the safest investment in the world, are now rated lower than bonds issued by countries such as the UK, Germany, France or Canada.

The outlook on the new U.S. credit rating is negative, S&P said in a statement, a sign that another downgrade is possible in the next 12 to 18 months.
Click to expand...

CLICK HERE
 
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BBC BREAKING NEWS : US AAA credit rating downgraded

One of the top credit rating agencies, Standard & Poor's, has downgraded the United States' top-notch AAA rating.

S&P cut the long-term US credit rating by one notch to AA+, citing concerns about growing budget deficits.

As rumours swirled earlier about the downgrade, unnamed US officials had told US media that S&P's analysis of the US economic situation was flawed.

The move follows the long political battle in Washington in recent months over raising the US debt ceiling.

Analysts have said a downgrade would further erode global investors' confidence in the US economy, which is already struggling with huge debts and unemployment of 9.1%.
Click to expand...

CLICK HERE


Monday should be interesting!
 
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Wait a second - so the dooms day is actually here?

I thought I heard Obama say that if the US gets downgraded, the sky will fall? And now all the US economists on TV are like 'oh it's not that bad. Japan had a AA rating, look at Japan. oh it's just a rating, we are still the safest.'

Balooshizney.
 
fitch and moody still sitting on AAAs, and its not like the snp provides any new info, everyone was familiar with the rationale for quite some time.
 
ElRaja said:
fitch and moody still sitting on AAAs, and its not like the snp provides any new info, everyone was familiar with the rationale for quite some time.
Click to expand...

True, but I believe the markets are going to tank when the threat of Euro contagion resurfaces, again.

Keep those short positions open! (I'm shorting with Expiry 21st Dec)
 
Oh my days.

DJIA opens -264 @ 11164
Gold opens + 25 @ 1690

Prepare for bloodbath this week!
 
The European Central Bank said late Sunday it "will actively implement" its bond-buying program, known as the Securities Markets Program. "This programme has been designed to help restoring a better transmission of our monetary policy decisions - taking account of dysfunctional market segments - and therefore to ensure price stability in the euro area," the ECB said in a statement released around 10 p.m. London time on Sunday. The statement is an indication that the ECB will likely buy Spanish and Italian government bonds in an effort to stem the spread of the euro-zone debt crisis. The ECB also urged Spain and Italy to swiftly implement new measures and reforms in the areas of fiscal and structural policies "in order to substantially enhance the competitiveness and flexibility of their economies, and to rapidly reduce public deficits." European markets have been shaken in recent days by growing fears that the euro-zone debt crisis that started in Greece will spread to bigger economies such as Spain and Italy
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Ticking time bomb.
 
snp at 1170, would b critical to see if it opens tmou below its last low which was around 1170. gold getting more expensive, dont mind seeing that now, put a bit of money in a gold miner to hedge againt further gold price rises.

i dont get what these european countries are doing, unless they actively look to reduce spending i dont see how these measures will calm investor sentiment.
 
ElRaja said:
snp at 1170, would b critical to see if it opens tmou below its last low which was around 1170. gold getting more expensive, dont mind seeing that now, put a bit of money in a gold miner to hedge againt further gold price rises.

i dont get what these european countries are doing, unless they actively look to reduce spending i dont see how these measures will calm investor sentiment.
Click to expand...

SNP 500 @ 1168 this morning!

Looks like today will make last Thursday look like a love story!

Red as far as the eye can see.

EU countries have been buying time, hoping the economy will pick up.

It's a race to the bottom, $ or EUR. My money is on both!
 
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Namak_Halal,

One can invest in Bullion Gold from Spain? Because i have found some Spanish online sites who sell gold and ship it to your house in couple of days. But later on how to sell it?

It seem in England its much better since they store your gold and you can sell it anytime, right?
 
shan said:
Namak_Halal,

One can invest in Bullion Gold from Spain? Because i have found some Spanish online sites who sell gold and ship it to your house in couple of days. But later on how to sell it?

It seem in England its much better since they store your gold and you can sell it anytime, right?
Click to expand...

You can sell the Gold to any Bullion dealer providing the Bullion has the following:

  1. Serial number
  2. Assay stamp of refiner
  3. Fineness (to four significant figures)

Though if you live in the UK, then why not buy from the UK?
 
DJIA down 338points!
FTSE down 175 points!
S&P 500 down 40 points!

I'm feeling sorry for paper share holders, AIM getting creamed in particular!

Yes folks, we are in the middle of a BULL market in equities! All debt and macro-economic problems have been solved! Hehe!

High five to all you shorters out there!

Gold trading above 1700 @ 1703!

*high five*

:)
 
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Elraja - how is your portfolio looking today?

My GBP/USD & EUR/USD short positions are not too bad, was expecting a bigger drop but I guess there's always some muppet buying USD out there as a safe haven!

Nonetheless - I am loving today's market action!
 
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Namak_Halaal said:
You can sell the Gold to any Bullion dealer providing the Bullion has the following:

  1. Serial number
  2. Assay stamp of refiner
  3. Fineness (to four significant figures)

Though if you live in the UK, then why not buy from the UK?
Click to expand...

I live in Spain, Barcelona.

I have found this Spanish site which sells gold. Check this out, they also have English version.

http://www.orodirect.es/products/2/gold_bars_.html

thanks
 
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