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Buying a gold bar

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I know you can buy the "paper" version on the sharemarket (ASX - GOLD), but where can you purchase a nice gleaming bar ?
 

wayneL

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Re: Buying a gold bar..

type "gold bullion" into google that might bring something up

In Perth you can buy gold at the mint.

Cheers
 

wayneL

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Re: Buying a gold bar..

You can get 1oz ingots....~$600 AUD

On the other hand you can get a 1 kilo coin also...$19k or something. Wouldn't that look cool in your coin purse :D
 

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Re: Buying a gold bar..

wayneL said:
You can get 1oz ingots....~$600 AUD

On the other hand you can get a 1 kilo coin also...$19k or something. Wouldn't that look cool in your coin purse :D
Yeah I think Jikx might be talking about getting a big bar like the ones you see in the movies, they are mega dollars.
 
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Re: Buying a gold bar..

That's the one! Thanks!

No.. I'm not looking for megabars haha, just minature replicas :eek:
 
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Re: Buying a gold bar..

Paper is alot lighter then gold. But having an ingot would be something t cost about.
 
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Re: Buying a gold bar..

Hey all

Bought my first Gold ignot from the perth mint about a month ago.
Cost roughly the USD rate by AUD conversion + about $30 commision.

The bigger the bar you buy the less the commision

The only drama is storing it but it's real cool to show it off.
 
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Re: Buying a gold bar..

What about silver? Can you easily buy silver coins, bars etc in Australia?

In the USA people buy bags of coins with a face value stamped on them (less than a Dollar, I think) which are worth more in terms of metal than their face value. The idea is to hold them for the metal content but if the metal price did crash then they are still legal tender at face value such that there is effectively a guaranteed minimum price for them.

I have a nice SHG (super high grade) 99.995% zinc bar from Zinifex sitting on top of my monitor. Nice talking point for visitors but not too much value as an investment unfortunately. :D
 
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Re: Buying a gold bar..

Gold in Downtrend now.

USD in Uptrend now.

Gold in AUD is still sideways ...
 
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Re: Buying a gold bar..

Is a bar just an oz? I would get one but they cost around $430. Plus people would probably hear about it and I'd get probably robbed.
 
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Re: Buying a gold bar..

found this old topic, so i thought i'd revive it after the recent stock crash...

What is the best way to leverage of the rising price of gold?
 

Rockon2

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Re: Buying a gold bar..

Gday Rafa :)

Q, leverage of the price of gold....

IMO , pointless buying the Physical stuff as in Bars of gold, ( I have done this years ago via Perth Mint ), as the commisson to buy/sell is high, they will store for you but at a price, and finally you would need an a lot of gold bar's (ounces ) large capital outlay, to make the exercise worthwhile..

Your best of buying shares in Major gold company's, look around there are plenty to choose from.... And as weve seen today, the price of these stocks immediatly follow up from last nights overnight move of gold bullion.. see chart.

And to gain leverage in stocks you can use CFD's or ETO's, and for the more experienced Gold Futures contracts.
 
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Re: Buying a gold bar..

thanks Rockon...

I have a couple of gold stocks already...and your right, that they do move with the price of gold.... but they also move with other factors such as problems at the mine, etc, etc...

probably NCM is the best one, but even that has mine issues.

How do you go about getting Gold Futures Contracts... do they have time limits and expiry dates... or are they like installment warrants...
 

Rockon2

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Re: Buying a gold bar..

Rafa said:
thanks Rockon...

I have a couple of gold stocks already...and your right, that they do move with the price of gold.... but they also move with other factors such as problems at the mine, etc, etc...

probably NCM is the best one, but even that has mine issues.

How do you go about getting Gold Futures Contracts... do they have time limits and expiry dates... or are they like installment warrants...


True but most gold miners move with the price of gold, to achieve an average buy 3 or 4 gold miners ......

Gold futures are like any other futures contract, They have are a set Contract size with set contract expirey dates, You would have to Join a Brokering firm that deals in Futures contracts ( they are a whole learning curve in themself ).. But IMO they a great to understand evan if you never trade them, at least you can understand why and how such large moves occur at times,, such as weve just seen on our major index's... .. The best part about futures contracts is its dealing with a large commodity's all done on a piece of paper. You can trade all sorts of stuff in futures these days, The mainstays are the major world index's. and then soft's such as sugar, wheat, cocoa. etc. Then oil, gas, evan electricity...

pm me, if want some the names of some Futures Brokers to follow up.
cheers and good luck.
 

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wayneL

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Re: Buying a gold bar..

Rockon2 said:
IMO , pointless buying the Physical stuff as in Bars of gold, ( I have done this years ago via Perth Mint ), as the commisson to buy/sell is high, they will store for you but at a price, and finally you would need an a lot of gold bar's (ounces ) large capital outlay, to make the exercise worthwhile..
Yeah the commission is a major bummer.

Futures or an ETF is the way to go.

With an ETF you don't have to worry about expiry dates etc. but will require more margin.

Cheers
 
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Re: Buying a gold bar..

I have a few gold bars myself (perth mint) and aggree that the transaction cost really suck (but some physicall gold is good).

Also have some stock GOLD which is a company 100% backed by gold bullion (ASX listed). Each share is worth just under 1/10th of an once (the share/gold value reduces monthly by like 0.0002% or something - which is how they make there money).

It follows the price of gold really well (they have a chart comparing gold price to stock price over last x years and it is always within a 1-2% margin)


Also can margin lend on the stock


THIS IS NOT A RECOMENDATION just something I found to be exactly the kind of thing I required in terms of owning gold.


Cheers
 

Rockon2

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Re: Buying a gold bar..

wayneL said:
Yeah the commission is a major bummer.

Futures or an ETF is the way to go.

With an ETF you don't have to worry about expiry dates etc. but will require more margin.

Cheers

Gday WayneL, whats an ETF??
 

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