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Re: Long-term chart 

By: Decomposed in GOLD | Recommend this post (1)
Fri, 03 Jun 22 10:04 AM | 196 view(s)
Boardmark this board | Gold 		Msg. 00021 of 00028
(This msg. is a reply to 00020 by micro)
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micro:

Re: “So, when ya go to redeem the gold one owns, can you expect to get the market price when ya sell them back ??”Yep. The spot price - usually the end-of-day spot price - plus or minus whatever commission the business charges, depending on whether you're buying or selling. As I showed, there's a big difference between the businesses. Some charge huge commissions and some relatively little.

Some sites sell gold they don't even possess, funneling new purchases almost directly to buyers who may be in line waiting for their bullion. When that happens, the backorders may prompt the business to waive or lower the commission on the gold it needs to acquire.

You asked how it works if you "don't necessarily want to have the physical gold"... and I don't know. It's probably a bit like buying and selling stock, where you have to trust that your broker is doing what he claims. Keep in mind that physical gold is in short supply and it really does appear that impossible amounts trade every day. To me, that means what's going on is fraudulent. I wouldn't trust it. If the company goes bankrupt... or if you ever want physical possession of what some broker is supposedly holding for you... will you be able to get it? Maybe not.

In exchange for making you assume that risk, I think you'll find that the companies holding PM (precious metal) usually charge a smaller commission. Some of them also have an annual storage fee, though.

IMO, physical is the way to go but... I suggest becoming familiar with BullionVault and its order board: https://www.bullionvault.com/order-board.do . If you pursue this, you'll soon know more about it than I do.








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Gold is $1,581/oz today. When it hits $2,000, it will be up 26.5%. Let's see how long that takes. - De 3/11/2013 - ANSWER: 7 Years, 5 Months


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The above is a reply to the following message:
Re: Long-term chart
By: micro in GOLD
Thu, 02 Jun 22 6:28 PM 		Msg. 00020 of 00028

Hi De!

Back from messing around with clients..

Hey, that price check at Boston Bullion is great.
So, when ya go to redeem the gold one owns, can you expect to get the market price when ya sell them back ??

How does that work?

OR, if I were to buy a LOT of Gold say somewhere and don't necessarily wantto have the physical gold, can I cash it in later when I think it is time to sell??

Just trying to wrap my head around this.. I dang sure don't want the gubmint deciding I need to ante up my physical gold to them cause Biden has spent us into oblivion .......

TY!

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