Where Is the best place to sell gold ... I have some fine gold wafers that I think I want to cash out any thoughts???
Thanks in advance
Thanks in advance
selling gold
- Thread starter daty
- Start date
I use Scotiabank.
http://www.scotiamocatta.com/products/faq.htm
My, ummm, very educated position on gold is that it is going a lot higher. The US dollar will have rallies but it is going lower. There is a current risk of a delivery crisis developing in gold as there is very little physical gold available. The gold market is shifting from paper trades to physical trades.
http://www.scotiamocatta.com/products/faq.htm
My, ummm, very educated position on gold is that it is going a lot higher. The US dollar will have rallies but it is going lower. There is a current risk of a delivery crisis developing in gold as there is very little physical gold available. The gold market is shifting from paper trades to physical trades.
what he sez!
a) You are a very knowledgeable professional short term trader
b) You are desperate for the $
Amateurs with the ability should have 10% of investments assets in gold (maybe a bit of silver) bullion. NOT certificates or funds (trust NO one).
Keep the gold for your grandkids, unless the day comes when you need it because it is the "..end of civilization as we know it.."
DO NOT sell gold, unless
a) You are a very knowledgeable professional short term trader
b) You are desperate for the $
Amateurs with the ability should have 10% of investments assets in gold (maybe a bit of silver) bullion. NOT certificates or funds (trust NO one).
Keep the gold for your grandkids, unless the day comes when you need it because it is the "..end of civilization as we know it.."
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do they sell 24kt 999.99 gold bars and jewellery at Pacific Mall?
It's hard to find high karat gold jewellery here in North America.
They got a few jewellery stores in there that do. You can also find a few at First Markham Place.
Well, it depends what you mean by "available". Most of the worlds' gold is uselessly locked up in vaults waiting for the price of gold to rise. It's just a matter of collective opinion and sooner later all those owners could decide they don't want the gold any more.
There are very few physical USES for gold, at least, relative to the absolutely enormous supply of the stuff.
I have no claim that it's going up or going down, just pointing out that the price of gold represents a collective hallucination more than anything else. That being said, there is no evidence the hallucination is going to end any time soon.
Well, like all forms of money.. its really
At least it has the benefit of being relatively scarce (unlike seashells), sorta portable (unlike giant rocks) and value over thousands of years (unlike online ephemera) !
... about common agreement amongst us hallucinatin' humans.
At least it has the benefit of being relatively scarce (unlike seashells), sorta portable (unlike giant rocks) and value over thousands of years (unlike online ephemera) !
Gold is extensively used for plating in the electronics industry. The reason it is used is it has the characteristics of high conductance and at the same time resists oxidation. The most common use is Card Edge Connectors on PCBs and all electrical/electronic connectors.
Jewelry is actually a very small portion of usage.
Eventually when the gold is needed for industry, IMHO the gold reserves will probably be replaced by Silver or Platinum.
Yes, and it is used to make jewellry as well. However those uses of gold consume only a very tiny, tiny, tiny fraction of the supply of gold.
There is an enormous supply of the stuff relative to its actual uses. Overwhelmingly the only use to which gold is put is that it occupies space in a fortified warehouse.
I think Fuji is right GDL..
Historically, gold is only used for HIGH value projects (i.e. NASA)
There is simply isnt enough platinum for use as money (and IT is needed for industry), and silver is just to bulky (and it tarnishes).
I have not kept up to date with techno, but while gold is VERY good for the uses you describe, there are others things that work almost as well and cheaper.
Historically, gold is only used for HIGH value projects (i.e. NASA)
There is simply isnt enough platinum for use as money (and IT is needed for industry), and silver is just to bulky (and it tarnishes).
Gold reserves by country.
http://en.wikipedia.org/wiki/Official_gold_reserves
U.S. 8000 tonnes, followed by Germany with 3000.
Ha ha ha.....Canada's got 3 tonnes.
I think total production world wide annually is a few hundred tonnes.
Most privately held gold is in India in jewellry where it is a a traditional store of wealth.
Just on the general topic of gold what kind of a deal do you get from these on line places advertising on T.V. ? You send in your old gold which they melt down. Usually not pure i.e. 14 or 18 karat. What % of the current spot price do you get?
http://en.wikipedia.org/wiki/Official_gold_reserves
U.S. 8000 tonnes, followed by Germany with 3000.
Ha ha ha.....Canada's got 3 tonnes.
I think total production world wide annually is a few hundred tonnes.
Most privately held gold is in India in jewellry where it is a a traditional store of wealth.
Just on the general topic of gold what kind of a deal do you get from these on line places advertising on T.V. ? You send in your old gold which they melt down. Usually not pure i.e. 14 or 18 karat. What % of the current spot price do you get?
Not so sure about the USA....
.. A Very Wise Guru blogged that if you read the fine print in the US Government Annual Reports, you find some weasel words that imply the gold is NOT in Fort Knox anymore.
Most of it isn't. I think their biggest depositary is actually the Reserve in New York. I read that somewhere. Wait, I'll Google it: http://www.waymarking.com/waymarks/WM5PEH_United_States_Gold_Depository_Fort_Knox_Kentucky.. A Very Wise Guru blogged that if you read the fine print in the US Government Annual Reports, you find some weasel words that imply the gold is NOT in Fort Knox anymore.
I was right. Fort Knox is second to New York. But Fort Knox now has a Tim Horton's: http://www.canada.com/news/Hortons+strikes+gold+opens+Fort+Knox/2095941/story.html
Anyway, back on topic, there's a great article on gold in the Star a couple of months ago, and that the value is near it's last peak in the latest cycle, so be careful thinking it's going to keep rising. http://www.thestar.com/comment/article/694615
We keep our reserves in the ground. Every now and then we make a fortune digging the stuff up and selling it to fools who think it is worth something. Apparently the fools in the USA bought 8000 tons of the stuff and now have no idea what to do with it all.
Strangely they still want more... and we're happy to keep selling it so long as the idiots are buying!
Annual production of gold is around ~2500 tons, of which about 2000 tons is consumed in jewellry, electronics, etc., meaning that the gold surplus grows by about 500 tons per year. Some of that "jewellry" is viewed as a store of value as well meaning the actual surplus is greater than 500 tons.
The old joke among gold bugs (like me) is:.. A Very Wise Guru blogged that if you read the fine print in the US Government Annual Reports, you find some weasel words that imply the gold is NOT in Fort Knox anymore.
Why is Fort Knox so heavily protected?
Because there is no gold there.
