Gold anyone? Time to buy again

Business Money
1

From the chart it looks as if it might be an excellent time to get back into gold or it’s poorer cousin, silver.

Although some may say sold is too pricey at current levels of between $1550-$1650, others argue that it’s cheap at these levels and could go as high as $10,000 oz.

The Aden sisters, famous for their Aden Forecast has this to say about gold:

Gold has been moving within a mega upchannel since 1970 and still has a ways to go before reaching the top side of this mega uptrend. How high is anyone’s guess but were gold’s price rise to match the 2300% rise realized in the 1970s (and our research suggests we could see the start of the bubble phase by next year) we’d see a $6000 gold price, which would blow the gold price well above the mega upchannel.

Compared to the gold bull market of the 1970s and the Nasdaq bull of the late 1990s, this current gold bull is not even close to finished. So far gold has only risen 490% from its 2001 lows. The Nasdaq increased 1500% in its hayday.

If you want to invest in physical gold check out a good Taiwanese website: shiny.com.tw. Use GoogleChrome to translate the pages to help you navigate the menus.
Premiums on American Eagle / Canadian Maple / Australian Kangaroo 1oz coins 9%. They also buy back from you at close to the spot price. They store your bullion free of charge or they deliver. They have branches in Taipei, Taichung, and Tainan.

Would love to hear your thoughts and ideas on the gold/silver market.

2

We’re looking to buy more PMs. 9% premium? From what I’ve heard about prices in Hong Kong you could buy a ticket, buy two ounces there and be money ahead.

My take on the stock market; batshit crazy is the new normal. World economy in a death spiral yet some central bank official makes a comment and its rally on (for a couple of days). Meanwhile eurozone countries are panic stricken about about rising bond yields (for good reason). 46.5 million americans on food aid and we’re approaching 9 million on disability, which has become the post 99’er safe haven.

Interest rates from banks are effectively negative, there’s not a lot of places for someone to invest their money safely. The fed has made hints at more easing to come. If it does happen we’ll see PMs spike to a new level shortly after.

I believe governments have zero to acknowledge and prevent an inevitable collapse. So PMs it is.

3

Gold has finite supply. Unless we find a new planet thats really close and it is full of gold, the chance that the sky is gonna rain gold / silver is very minimal. Nearly none so its supply is really limited.

Money: Paper Money It can be printed easy. At least it is easy to print by the banks. The privately owned Federal Reserve could print money any day or just add that digit on some computer. It is created out of thin air. Sooner or latter all the people are gonna realize what a rigged game it is, this money game they created. They create this paper money and we all have to pay tax/interest on that.

4

[quote=“Shaktipalooza”]
I believe governments have zero to acknowledge and prevent an inevitable collapse. So PMs it is.[/quote]

Of course they don’t. The politicians don’t study science or problem solving or logic.

I am a software developer and I solve more problems in day than they do in a decade.

5

[quote=“Shaktipalooza”]We’re looking to buy more PMs. 9% premium? From what I’ve heard about prices in Hong Kong you could buy a ticket, buy two ounces there and be money ahead.
[/quote]

Click the link for current buy price on American Eagle 1oz coin: shiny.com.tw/?item=10387
Copy the link to Google Chrome and translate.

American Eagle 1oz price: NT$53,178 / 30 = US$1773

Current gold spot price: $1623.5 oz.

Premium: ($1773-$1623.5) / $1623.5 = 9.2%

Another reason to be bullish about gold:
With the USD losing serious momentum (see chart below), the precious metals (all priced in USD) are set to be the biggest beneficiaries of the USD’s correction. The RSI and MACD show a negative divergence between price and buying momentum. Thus, even though the USD index moved to new recent highs mid-July, the momentum indicators didn’t make new highs along with the rising price. FYI, divergent indicators make some of the most reliable forward-looking technical indicators.

6

the price on BOT website was 51k TWD something this week but it is not there anymore which is weird.

7

That’s a good price, but do they buy it back when you wanna sell? I know Shiny does, but only from their own sales (as far as I know).

8

Yes they do. you have to keep the receipt tho, thats what they say.

I was looking at shinny and booksilvertrade.com.tw. They have better silver price than BOT but not sure how do u make sure of the authenticity.
how do u make sure it is real when u get it?

9

BTW it was 50k something just two weeks ago

10

[quote=“kevinsang01212”]
I was looking at shinny and booksilvertrade.com.tw. They have better silver price than BOT but not sure how do u make sure of the authenticity.
how do u make sure it is real when u get it?[/quote]

My wife is Taiwanese so she did a lot of research and found that Shiny got the best reviews from customers. They also have their own brand (generic silver and gold). Most of the bullion products are foreign minted products. They come with a certificate of authenticity. Another way to make sure you don’t get ripped off is to buy small bars or coins instead of the large bars. It’s more difficult to mix other metals with gold/silver into small bars or coins. Also, you can always check the size and weight once you get it. :thumbsup:

11

They only show the prices during market hours.

Yes they buy it back. They show the buy and sell prices on their website(during market hours). IIRC the spread was quite small.

If you’re going to buy gold, definitely do it through the BOT and not through those other vendors. Back when I did my research, BOT had the best prices and spreads for gold. And you have the peace of mind knowing that it’s a bank and 100% legit. But for silver, they had higher prices. However, those vendors which sell silver, their spreads are ridiculous ~20-25%.

When you buy gold from the BOT, they give you a certificate. And when you want to sell it back to them, you need that certificate.

12

Help me out on this SillyWilly please: If I have the Kangaroo 1990 set from the Perth Mint, how much would it be selling for at shiny? (Bearing in mind it’s comprised of 1, .5, .25, .1. for 1.85 (or just under) ounces.) Ostensibly it seems the smartest move would be to hold it longer.

Could any of you recommend a better way of selling said set? Cheers

13

They only show the prices during market hours.

Yes they buy it back. They show the buy and sell prices on their website(during market hours). IIRC the spread was quite small.

If you’re going to buy gold, definitely do it through the BOT and not through those other vendors. Back when I did my research, BOT had the best prices and spreads for gold. And you have the peace of mind knowing that it’s a bank and 100% legit. But for silver, they had higher prices. However, those vendors which sell silver, their spreads are ridiculous ~20-25%.

When you buy gold from the BOT, they give you a certificate. And when you want to sell it back to them, you need that certificate.[/quote]

Thanks for the info Tony. Shiny’s generic silver bars (1oz and 10oz) sell at 12% above spot and for Canadian Maple 1oz coins (in box of 25) at a 19% premium.

14

[quote=“Kea”]Help me out on this SillyWilly please: If I have the Kangaroo 1990 set from the Perth Mint, how much would it be selling for at shiny? (Bearing in mind it’s comprised of 1, .5, .25, .1. for 1.85 (or just under) ounces.) Ostensibly it seems the smartest move would be to hold it longer.

Could any of you recommend a better way of selling said set? Cheers[/quote]

They don’t have the 1990 Perth Mint set, but they’re selling a 1999 Australian Kangaroo set with the same coins you have for NT$113,386. link: shiny.com.tw/?item=1910

Because yours is 9 years older and more of a collector’s item, you’ll probably be able to get a higher price. How much higher, I don’t know. It all depends on who you sell it to.

From Shiny’s website they don’t appear to buy back collector’s sets. The best way to sell it would be privately. Ebay, etc. Personally, I would hold on to it for a few more years. You might double or triple your money.

15

They only show the prices during market hours.

Yes they buy it back. They show the buy and sell prices on their website(during market hours). IIRC the spread was quite small.

If you’re going to buy gold, definitely do it through the BOT and not through those other vendors. Back when I did my research, BOT had the best prices and spreads for gold. And you have the peace of mind knowing that it’s a bank and 100% legit. But for silver, they had higher prices. However, those vendors which sell silver, their spreads are ridiculous ~20-25%.

When you buy gold from the BOT, they give you a certificate. And when you want to sell it back to them, you need that certificate.[/quote]

Thanks for the info Tony. Shiny’s generic silver bars (1oz and 10oz) sell at 12% above spot and for Canadian Maple 1oz coins (in box of 25) at a 19% premium.[/quote]

I don’t mean the spot premium, I mean the bid-ask spread. For example, per their website, they’ll sell you an American Silver Eagle for1027nt. But if you wanted to sell that same coin back to them, they will buy it back from you for only 803nt.

You do the math and that’s an incredible spread of 28%. This means that the price of silver would have to appreciate by 28% for you just to break even.

16

They only show the prices during market hours.

Yes they buy it back. They show the buy and sell prices on their website(during market hours). IIRC the spread was quite small.

If you’re going to buy gold, definitely do it through the BOT and not through those other vendors. Back when I did my research, BOT had the best prices and spreads for gold. And you have the peace of mind knowing that it’s a bank and 100% legit. But for silver, they had higher prices. However, those vendors which sell silver, their spreads are ridiculous ~20-25%.

When you buy gold from the BOT, they give you a certificate. And when you want to sell it back to them, you need that certificate.[/quote]

Thanks for the info Tony. Shiny’s generic silver bars (1oz and 10oz) sell at 12% above spot and for Canadian Maple 1oz coins (in box of 25) at a 19% premium.[/quote]

I don’t mean the spot premium, I mean the bid-ask spread. For example, per their website, they’ll sell you an American Silver Eagle for1027nt. But if you wanted to sell that same coin back to them, they will buy it back from you for only 803nt.

You do the math and that’s an incredible spread of 28%. This means that the price of silver would have to appreciate by 28% for you just to break even.[/quote]

Yeah, the silver coins have a crazy spread, but the silver bars have a much narrower buy-sell spread of only 9%.
Buy @ shiny.com.tw/?item=868
Sell @ shiny.com.tw/?item=1173
Spread = 9%

In a bull market it doesn’t take very long to cross a 9% spread, and it sure beats the hell out of a 28% spread on the coins. However, you have to ask yourself if you want to hold the prettier, internationally recognized coins or the more cost effective generic bullion bars. Everyone’s investment objectives and investment horizons are different.

17

Here’s the answer:

As every Olympic athlete knows, size matters. The London 2012 medals are the largest ever in terms of both weight and diameter - almost double the medals from Beijing. However, just as equally well-known is that quality beats quantity and that is where the current global austerity, coin-clipping, devaluation-fest begins. The 2012 gold is 92.5 percent silver, 6.16 copper and… 1.34 percent gold, with IOC rules specifying that it must contain 550 grams of high-quality silver and a whopping 6 grams of gold. The resulting medallion is worth about $500. For the silver medal, the gold is replaced with more copper, for a $260 bill of materials. The bronze medal is 97 percent copper, 2.5 percent zinc and 0.5 percent tin. Valued at about $3, you might be able to trade one for a bag of chips in Olympic park if you skip the fish.
Source: zerohedge.com/news/austerity … s-134-gold

18

[quote=“SillyWilly”]Here’s the answer:

As every Olympic athlete knows, size matters. The London 2012 medals are the largest ever in terms of both weight and diameter - almost double the medals from Beijing. However, just as equally well-known is that quality beats quantity and that is where the current global austerity, coin-clipping, devaluation-fest begins. The 2012 gold is 92.5 percent silver, 6.16 copper and… 1.34 percent gold, with IOC rules specifying that it must contain 550 grams of high-quality silver and a whopping 6 grams of gold. The resulting medallion is worth about $500. For the silver medal, the gold is replaced with more copper, for a $260 bill of materials. The bronze medal is 97 percent copper, 2.5 percent zinc and 0.5 percent tin. Valued at about $3, you might be able to trade one for a bag of chips in Olympic park if you skip the fish.
Source: zerohedge.com/news/austerity … s-134-gold[/quote]

LOL. thanx for the info.

Next thing you know, they will replace the silver with plastics made from hemp

19

With the Fed still holding off on the next inevitable stimulus, gold has lost some ground. All eyes now on ECB “whatever it takes to save the Euro” stimulus. Should be a big one, but you never know with these “smart guys” at the central banks. Draghi said he would do whatever it takes, but he can easily backtrack and bow to political pressure instead.

USD rallied back up to 83 after the FED’s inaction.

20

There are 22 references to the BOT site, and zero links to it. But then several links to other vendors that we are warned not to buy from. :loco: