Current Gold Price

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Snail
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Post by Snail »

Not a good way to buy, but the eyeball average of gold sovereigns on eBay seems to be about £400. So, roughly about £50 per gram compared to £44 live price.
kenneal - lagger
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Post by kenneal - lagger »

Snail wrote:Not a good way to buy, but the eyeball average of gold sovereigns on eBay seems to be about £400. So, roughly about £50 per gram compared to £44 live price.
About £370 on Bullion by post including P&P but they ain't selling!! I wouldn't go through ebay at the moment for anything valuable especially gold. Too many scammers about!
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UndercoverElephant
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Post by UndercoverElephant »

Snail wrote:Not a good way to buy, but the eyeball average of gold sovereigns on eBay seems to be about £400. So, roughly about £50 per gram compared to £44 live price.
I never even thought of buying or selling gold coins via ebay.
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BritDownUnder
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Post by BritDownUnder »

I have heard a lot of eBay silver has lead in it.

Even the Perth Mint in Australia (according to their website) has stopped selling silver coins due to increased demand. Limited gold coins are available and no bullion bars of either metal at all.
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kenneal - lagger
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Post by kenneal - lagger »

BritDownUnder wrote:I have heard a lot of eBay silver has lead in it.

Even the Perth Mint in Australia (according to their website) has stopped selling silver coins due to increased demand. Limited gold coins are available and no bullion bars of either metal at all.
All the traders who have been flogging gold that they don't have have been caught out by people asking them to cough up, I would think, so they are scouring the world and ebay for supplies. The trading companies have probably got together to cover up the scandal of fellow traders selling stuff that they don't have.

Just another example of the unethical ways that people trade in the financial and related worlds.
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Bedrock Barney
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Post by Bedrock Barney »

UndercoverElephant wrote:
Snail wrote:Not a good way to buy, but the eyeball average of gold sovereigns on eBay seems to be about £400. So, roughly about £50 per gram compared to £44 live price.
I never even thought of buying or selling gold coins via ebay.
I've bought gold sovereigns and silver britannias through ebay. No problems at all but I did contact the sellers first and got a discourse going. I will only buy from someone with plenty of 100% feedback and a long standing account.
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UndercoverElephant
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Post by UndercoverElephant »

Gold currently at all time high in sterling and euros. (£1440).

https://economictimes.indiatimes.com/ma ... 787114.cms
Hedge fund luminaries including Paul Singer, David Einhorn, and Crispin Odey are among those bullish on gold, according to recent letters to investors. So are large asset managers like Blackrock Inc. and Newton Investment Management.

“Gold is the only escape from global monetising,� Odey wrote. Gold futures were the third-largest position held by his flagship Odey European Inc. fund at the end of March. “In the short term, the money will be made on the inflation bet.�

The logic is simple: the massive expansion of central bank balance sheets around the world must eventually dilute the value of their currencies -- most importantly the dollar -- leading to inflation of hard assets like gold. The price of the metal has already risen sharply this year, touching a seven-year high of $1,751.69 an ounce on Friday. But some believe it has much further to go.
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Post by UndercoverElephant »

kenneal - lagger
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Post by kenneal - lagger »

I'll just have to turn my coins into jewelry if that happens then. If people own bars of the stuff that to can be worked as well. Most Indian families keep their wealth as jewelry:are they going to make that illegal?
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Post by kenneal - lagger »

If things are that bad a lot of people will bury some or all they own because it won't be long before the whole system collapses and there won't be any one to enforce the ban.
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UndercoverElephant
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Post by UndercoverElephant »

kenneal - lagger wrote:If things are that bad a lot of people will bury some or all they own because it won't be long before the whole system collapses and there won't be any one to enforce the ban.
Yeah, I can't see any western government having much luck in enforcing such a ban. In fact, trying to ban it will set up a black market, and the real value will multiply many times over.
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Post by vtsnowedin »

UndercoverElephant wrote:
kenneal - lagger wrote:If things are that bad a lot of people will bury some or all they own because it won't be long before the whole system collapses and there won't be any one to enforce the ban.
Yeah, I can't see any western government having much luck in enforcing such a ban. In fact, trying to ban it will set up a black market, and the real value will multiply many times over.
I don't see gold's value going up in such a situation more likely the value of government issued money going down the tube and gold at about the value it has now being the only medium of exchange that is trusted.
The government got away with banning private ownership of gold once before but I don't see them being able to do it again. If anything the attempt would be an admission that the government has spent us into bankruptcy which would not play well.
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Post by stumuz1 »

vtsnowedin wrote: The government got away with banning private ownership of gold once before but I don't see them being able to do it again.
The internet has changed what a government can do to an uninformed populace.
vtsnowedin wrote: If anything the attempt would be an admission that the government has spent us into bankruptcy which would not play well.
Agreed the US & UK have previous on this.

Anyway, if it were to happen, then gold would go underground and become the de facto currency. Local barter for everyday essentials would become local currency.
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UndercoverElephant
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Post by UndercoverElephant »

Gold just hit all-time high. First time it has broken £1500/oz.

https://www.bbc.co.uk/news/business-53555771
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Post by UndercoverElephant »

Spiked to £1540 today, before pulling back. It is trying to break out, in investor-speak.

https://www.theguardian.com/business/20 ... y-us-china
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