Jump to content

Recommended Posts

Anyone know if or where i can sell my gold for the spot price of $990 an ounce?

Link to post
Share on other sites
  • Replies 108
  • Created
  • Last Reply

Top Posters In This Topic

  • breakfast

    37

  • ckfm

    23

  • love

    7

  • Effervescent

    6

Top Posters In This Topic

Posted Images

Anyone know if or where i can sell my gold for the spot price of $990 an ounce?

 

 

Gold was 972 the last time I looked and of course continually changing. Many say it will hit $1200 to $1500 this year, but the trick to investing :rolleyes: is knowing when it hits the top and getting out before it drops and you will never get spot unless you can sell it directly to an end purchaser.

 

I would suggest that you ask some of the black market money changers and only meet them in a bank if you are dealing in large quantities.

 

http://goldinfo.net/gold1.html

Edited by Mr. Lee
Link to post
Share on other sites
Alan S

You wont get the spot price as you are only going to be able to sell to an intermediary, and he will want his cut.

 

In the same way, when you exchange currency, you never get the rate posted on the internet, but a lower rate to allow the banks etc to make something.

 

There must be an amount of gold at which you could go direct into the market, but I have no idea what it is. Probably in the order of tons, and if you do have that amount available, hey, can I be your friend. lol

Link to post
Share on other sites

Another big consideration is the format. Are these strictly bullion products or legal tender coins? Some coins trade at a premium to their gold value; in fact most do. With gold at $972.40, you can buy a 1 oz bar for $985. But if you want a one ounce South African Krugerrand, it will cost you $992.66. An American gold eagle 1 oz is $1026.

Link to post
Share on other sites
Another big consideration is the format. Are these strictly bullion products or legal tender coins?

 

 

I have heard that if you have the bullion products, they may be hard to sell.

The reason being is the authenticity of the gold. It would be quite easy to

sell something that is not what it is portrayed as. Many fake products out there.

 

If I had a 5 oz bar of gold with some cheesy markings on it, would you buy it?

Link to post
Share on other sites

Remember if you are going to trade gold for profit it is a commodity like any other. Like wheat, coffee, sugar or coco. Whats comes up must go down. Silver's price behavior is much like gold. And silver may be a bit better buy at this moment. There are good gold stocks like AUY or GOLD and SLW for silver. But there are many fly by night stocks that will take your money. Watch out for penny stocks, they are cheep for a reason.

 

Gold 100oz CBOT April 2008

post-778-1205039507_thumb.png

A chart of the stock GOLD

post-778-1205033538_thumb.png

Edited by love
Link to post
Share on other sites

nygold.gif

If you are in Cebu City you can sell them at a pawn shop.

Here in the states at a coin shop.

I have no idea what they will give you for them.

If you can wait a little while you may be able to get 927.00 for these coins.

Find out what they will give you, say 800.00 (hopefully you will get a better deal)

927-800=127

127+927=1054

So in this case you wait till gold hits 1024, should not be too long but anything can happen, and sell your coins for 927.

 

Gold prices tend to follow crude oil prices so as oil rises so will gold.

Link to post
Share on other sites

Gold is hovering around $1000 right now with the latest news of the Bear Stearns emergency financing. The Fed gave them an undisclosed amount of cash so they wouldn't be forced into bankruptcy. This is the second largest mortgage lender in the U.S. This is an extremely large bank, and they were near collapse.

 

There are now estimates that U.S. banks have made one trillion dollars in bad loans. They loaned tons of money to people for houses that they couldn't afford and they did it with either no down payment or a very small one. Then, they handed out home equity loans on equity that didn't exist. Then they made car and boat loans on this equity that never existed. Then they handed out credit cards on that fake equity. Now the car payments are overdue, the boats are getting repossessed, people are not paying the credit card bills and guess what? The housing market is getting closer to real value so the lies about "equity" are being discovered.

 

These are the "rich" people that those in the third world look up to. The rich American with the big house and flat-screen television and the new Chevy four wheel drive pick-up truck. It is comical to think of a Filipino with no credit card, no substantial assets at all, and no bank account having more money that many of these people because he has a few 1000 peso notes stashed at home for emergencies. Now just how far ahead is America when such a huge part of the economy is smoke and mirrors that the Fed, the banks, and the politicians use to keep everything from collapsing?

 

Power moves around the globe, as does wealth. Sometimes I fear that America is losing a grip on what has value and what does not. But gold has value, and the Swiss aren't fretting right now because if their government wants to print more money, they need to put more gold in the vaults to back it up. This makes for a less flexible economy and a whole lot more honest one.

 

I wouldn't be selling any gold right now unless it was critical. This bull has room to run, and he has lots of energy. A bit more sour news (and it's coming) could be a real jolt in the behind for that bull and he might run himself skinny, which would make you quite fat Bamboo!!!

Edited by ologist
Link to post
Share on other sites

its at 1020 today. I read that if it gets too high, the US will be forced to start backing up the dollar with gold. I think it will get to $100,000 an ounce. That means that whoever stole my other 3 ounces will become a millionare.

Link to post
Share on other sites

"its at 1020 today. I read that if it gets too high, the US will be forced to start backing up the dollar with gold. I think it will get to $100,000 an ounce. That means that whoever stole my other 3 ounces will become a millionare. "

 

$100,000 an ounce??????????????? Surely you jest. Oh, and I believe 3 x 100,000 = 300,000. Far short of 1,000,000

Link to post
Share on other sites
Alan S

Oh it may reach $100,000 an ounce, but not in any of our lifetimes.

 

As for the US going back to the gold standard, not possible.

There just isnt enough gold to do so, even if they wished to.

Link to post
Share on other sites

Is the gold really going up?

Or is it just the dollar going down?

Im surprised to see the USD went below the swiss franc this weekend.

Link to post
Share on other sites
Alan S

Gold is going up, partly because it is and has always been, a refuge when there is uncertainty in the financial markets, but also commercial and industrial demand keeps rising, and given limited production, it doesnt take much for demand to equal or exceed supply.

Link to post
Share on other sites
Guest
This topic is now closed to further replies.

×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use, Privacy Policy and Guidelines. We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue..

Capture.JPG

I Understand...