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PMGOLD - Perth Mint Gold ETF

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The only thing comparable for me was the uranium bull from 2004/5, which was pretty nuts. That was quite a ride. But, the increase in POG hasn't transferred into the junior PMs which is a bit different. I was expecting anything with gold or silver in its name to go off. I was also expecting some other meme companies to change their name to 'XYZ gold' or such, which hasn't happened yet. Maybe the taxi drivers' focus is still on digital coins, etc.
 
I would hazard a guess that with your ( and some other members of ASF ) knowledge of producing and exploration PM companies that it becomes just a matter of time before they show some significant moves up. The moves are often multiples of the POG and other precious metals. Australia is such a significant Gold exporter that profits will come eventually ( or even tomorrow ! ). Who knows?

The good thing is that now with ETF's and forums such as ASF the pump and dump or buy and hold is less prevalent by the established brokers and you have a similar chance to advisers of picking the move correctly.

It is a shame that there is not an ETF on ASX like the small miners GDXJ on the NYSE. That would be ideal for me.

gg
 
On the last sentence, that was my exact feeling a couple of months ago and o ended up going to the US version
We should tell global X
 
A drop in PMGold is anticipated with the retracement overnight, on considerable volume to just where $US Gold was 3-4 days ago.

At present rates and POG from the end of the NY Globex session I'd expect PMGold to open around about $41.60. Fortunately the strengthening $USD will cushion some of the fall.

Will buyers come in or is this the beginning of a further retracement. I have no idea.

gg
 
This is a post from the "Gold Heading" thread which may interest PMGOLD holders or those interested in buying or selling it which may be of interest to them.




Now that I think about it, there was a discussion some years ago on ASF on the merits of PMGOLD vs Gold etf's @Sdajii , and @qldfrog 's opinion above was the consensus opinion. The thinking was that the closer your investment is to an actual gold bar with government regulation, the safer the investment was if everything went to putty.

Interestingly after the point was raised yesterday I checked the price of PMGOLD and GOLD and the latter was cheaper. Maybe there is a premium for the WA Govt. backing, although PMGOLD follows closely the spot price on kitco.com converted to $AUD.

I'll put this on the PMGOLD thread for those who reference it.

gg
 
@Sean K should be pleased with PMGOLD's price action recently. It is just poking it's nose over all time highs.

Given all the variations in factors affecting the POG I believe this stock is as good as any Gold index or other ETF as to the direction of Gold. It incorporates the AUD/USD currency changes, the POG and a stable ( I hope ) exchange home for trading Gold.




gg
 

Not sure if gold in any other currency has done as well. Been a great run. I do wonder whether POG in general can replicate 2024. Was a pretty big year. But, has anything changed that's supported gold the past 2 years? I don't think so. Not yet anyway.
 
Can someone tell me if this is going to double again in the next 2 years? Thanks in advance.

 
I got to thinking about where Gold is stored, and much of my Gold is held as PMGOLD.

So where is the Gold stored at the Perth Mint, and how often is it audited? Is any of my Gold leased? Are there any liens over my Gold? From the Perth Mint site.

INVESTMENT OBJECTIVE

PMGOLD is designed to track the international price of gold in Australian dollars

and offers investors a simple, low cost way to access the returns on gold.

PMGOLD trades like a regular share and is purchased via a stock broking account.

Investments in PMGOLD are fully backed by physical bullion held by The Perth

Mint, with metal stored on investors’ behalf guaranteed by the Government of

Western Australia.

PMGOLD units can be converted into gold holdings in a Perth Mint Depository

account. Depository account holders can choose to take delivery of physical

gold bars. Fees and charges apply.

gg
 

The Mint might be upping their security soon for some ex-SASR types and ditching SthAsianForRent Security Services.

 
Fair to say, this has been a good play over the past few years. $5K not far off.

Someone tell me when the music is about to stop please.

I'll help gg dig up his stash out the back of the RIH.

 
This actually spiked up this am. Amazing. Must be the AUD crashing.

US gold looks to have stabilised and held up well. I thought it might have just gone out with the bath water.

 
Miner said:
Stabilised?
Prices of RMS, KAL, NST, DEG GOR, etc do not appear to be stable
Click to expand...

Yeah, the stocks are going to follow the market. POG got out of the lift just under 3000 and started up the stairs. Might get back in the lift shortly.
 
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