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  1. #1
    Join Date
    Aug 2004
    Posts
    21

    Default where to sell gold

    hi guys

    has anyone know where to sell gold/silver in new zealand? cheers,

    A

  2. #2
    Join Date
    Sep 2003
    Location
    High up above and deep down under
    Posts
    10,915

    Default

    Hi A

    You could always try to sell on http://www.trademe.co.nz auction site.

    How much silver are you selling?

    Regards
    "There's one way to find out if a man is honest-ask him. If he says 'yes,' you know he is a crook." Groucho Marx

  3. #3
    Join Date
    Aug 2004
    Posts
    21

    Default

    thanks for your reply Muppet, i just asked. i don't actually hold some at this moment.

    but i am quite interested in trade gold/silver and found some good links here about buying, therefore ask about selling. in new zealand, is it possible to trade gold/silver on line withouit physically holding them, like share or foreign exchange? cheers,

    A

  4. #4
    Join Date
    May 2004
    Location
    Auckland
    Posts
    168

    Default

    If you want to buy gold without holding the physical asset (don't forget how many people lost millions with the Goldcorp failure in NZ in 1987 or so) this is stright forward. However as I have no interest in the asset I do not who does it now.

    Three other choices are

    1. Buy put or calls over gold dependant on your views on price. Try some of the brokers with international links

    2. Do what most people do when they do not want the security of holding the physical asset, that is buy shares in gold companies. Australia has dozens. The shares move pretty much in direct correlation to the prevaling gold price. The advantage is twofold. Firstly they pay dividends which gold does not. Secondly they are easily tradable. There is of course a downside in that companies can still go bad. I think sons of Gowalla (excuse spelling) a major Australian miner had a major disappointment in the past few weeks.

    3. Of course Gold does not have any significant industrial use in the world and thus no non emotional demand driver . The major holding of Gold is as a store of wealth which is something of a tautology because it has minimal intrinsic value. Come the revolution the real store of wealth is cigerettes and food. Thus I think Platinium is a more sensible strategy especially with the expected surge in car use in China and India over comming decades and the resultant need for platinium in catalytic converters.

  5. #5
    Join Date
    Nov 2003
    Location
    Balclutha
    Posts
    45

    Default

    Hi all

    Murray

    I agree with what you say but I want to add a couple of comments .

    Firstly that's a very good point about buying gold shares rather than physical gold. This has been my preferred option to gain exposure to Gold and the Gold sector. The reason why I believe it is even better than having a chunk of gold is this.
    If Gold is say $400 US oz and by the end of the year its $450 you have done well and made a 12 % profit.
    However if a gold stock is selling the gold at 400 US oz but its cost price is 300 per oz it makes $100 per oz, if the price of Gold goes to $450 per oz the profit is now $150 per oz a profit rise of 50%.
    Obviously if the price delines then the loss is even more dramatic than buying the solid stuff. It's all about leverage. At the prospect of new Gold finds and shares look good.
    As far as the real value of Gold, the demand from Asia for Gold keeps increasing (the last time I read about it) they love gold jewellery in India and China, as these two countries continue to prosper don't discount their insatiable desire for the Yellow rock.

    Regards westan

  6. #6

    Default

    Hi A,
    I am also going to start investing in gold/gold company shares. I see this thread is a bit old and I'm just wondering if you've taken any action on buying gold/shares? and how you went about it.

    Evil

  7. #7
    Join Date
    Sep 2003
    Location
    High up above and deep down under
    Posts
    10,915

    Default

    Hi Evil

    Have you seen this site
    http://www.kitco.com

    Regards
    "There's one way to find out if a man is honest-ask him. If he says 'yes,' you know he is a crook." Groucho Marx

  8. #8

    Default

    Hi Muppet,

    No I haven't seen it before. Thanks for that....it has quite a lot of information on there.
    I notice you have done quite a few posts on gold Muppet....can I take it that you have made some kind of investment in gold?

    Evil

  9. #9
    Join Date
    Sep 2003
    Location
    High up above and deep down under
    Posts
    10,915

    Default

    Hi Evil

    No not really. Bought a gold coin last year and some silver bars.

    Haven't got the spare cash to invest unfortunately but love watching the prices. Just like house prices but alot more volatile.

    Regards
    "There's one way to find out if a man is honest-ask him. If he says 'yes,' you know he is a crook." Groucho Marx

  10. #10

    Default

    Yeah I was going to buy some gold coins...until I found out they charge an extra 4-7% on top of the going price for gold, and then theres also the difficulty in selling them on in a hurry.
    I think shares in gold companys is the best way to go now.

    With these gold experts predicting the price of gold to basically treble in value.....imagine the returns if you had $100K to invest! :twisted:

    heh heh maybe its time to get a top up on the mortgage


 

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