Harrods Selling Gold Bars

Gold and real estate have always been the best investments around. There's a fixed supply of each, but demand keeps rising astronomically with a growing population for each of them. It seems, particularly with gold, it's the natural and historical world wide currency, been around way before paper money was invented. Stock market? Unless you have insider information, forget about it, there's too much fraud there.

Are we ready to pay a premium for buying gold from a person or company's stash of metal? Congratulations to Mr. Al-Fayed and his ability to sell gold at a premium, but with profit?

This is not true.

I'm pretty sure that we're digging out more gold from the ground so there's not really a 'fixed supply' of gold...and there are more and more tracts of land being made available for development, so suggesting that there is a 'fixed supply' of land is a significant distortion.

People buying gold now? I thought the idea was to buy low and sell high rather than to buy high?

The biggest gold market, India, needs a retail store like Harrods--not London.

There is lots of gold in the world, provided the price is high enough. You can find it in sea water, but the cost of recovery is too high.

If the price stays high, eventually mines that were closed because of bad margins will reopen.

In any case, I always find this funny.

Gold has more value to the rich than the poor. Gold has its uses, but the average person needs so many things before gold. Gold has a high value for the simple reason people say it has a high value, much like paper money has value only because people assign it to it.

At the core, people need food, shelter, clothing, medicine, and some form of entertainment when they are not pursuing the other things. Everything else is artificial.

You need to buy a gun before buying gold.

Harrods has the right idea and position to sell physical gold. We have gold mines and will sell gold certificates at 15% below spot.

Richard,

The only thing missing from your list of core items is a way to protect these items. I need a weapon to protect my items from those who wish to take them for themselves. However as history shows, those with gold will be able to pay their armies to eventually take what is mine either by force or taxation.

Don't believe all the hype that gold is going up and up to $2,000/oz. or higher. There's more scrap gold coming on to the market from people selling all their gold just to eat, fill up the gas tank, etc. This supply alone is more than what's being mined. There's tons of gold available. The runup in prices is manipulation from Wall St. to get the suckers in before the price in gold drops considerably. Most people aren't buying $1,000 gold when they're worried about paying the rent, mtg., buying food, etc. Don't believe all the smiling faces on tv with all the lies fooling the public.

You better have some gold if you expect to have food, shelter, clothing, medicine, etc. At least in the long run.

Daniel Smith October 16, 2009 11:27 AM
"...I'm pretty sure that we're digging out more gold from the ground so there's not really a 'fixed supply' of gold
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Have you heard of peak oil? Well there is peak gold today. All the easy gold has been mined. Also, there is less than 1/2 trillion dollars of unencumbered gold in the world. Even if China wanted to buy all the available gold, which could not be done, they would only use up 1/4 of their 2 trillion dollar assets. Not to mention, they would cause gold to skyrocket.

Buying gold is to protect your savings. When inflation hits at 20% or higher per year, the cost to mine the gold will also go up. Even God himself told man to use only gold and silver as currency, since all other currencies WILL fail.

Richard -- Do you honestly believe that those green pieces of paper we call dollars would have value if it wasn't for laws that mandated their use as money? Are you saying green pieces of paper are just naturally assigned a high value through the market? If it just occurs naturally then why don't they use green paper in China or France or South Africa? Do you think its just a cultural difference?

Well after all is said and done I have no gold, but, if you have some that you don't want you can give it to me and then we will both be happy, mail me at blufishimage@aol.com many thanks.

Could someone please explain to me how a shiny piece of metal dug up from the ground and is basically pretty useless unless you like a mouthful of gold teeth makes most people on this planet go weak at the knees. If there was only one conker tree in the world then I suppose that conkers would be the currency for buying oil.

Gerard Ambrose

How are you going to pay for food, shelter, clothing, medicine and entertainment? Gold that is increasing in value or paper money that is diminishing in value?

Daniel Smith stated very eloquently in his Oct. 16 blog "I thought the idea was to buy low and sell high rather than to buy high?" Even an average person (no offense Mr. Smith) can understand this simple yet very effective method in coming out aheadm where most of these overpaid and egotistical financial geniuses say put your money in gold. Who in their right mind would want to blow their life savings on gold at this point in time, when gold prices are at their highest? Sell off everything you own in gold to those idiots willing to pay these large sums of money at the moment and put your earnings aside. Then when gold prices go down the tubes as history seems to prove by repeating itself, buy back twice as much gold than you had originally. That to me seems the way to do it.

I agree with Richard...get a grip on reality. Pursuing all these materialistic things...their vaults may be full but how empty are their lives?

Unless we were to go to a complete barter system for everything we consume, which would be virtually impossible as there is no mechanism in place to accomplish it, then a form of currency is necessary and has been since B.C. Paper money can be printed at will at virtually no cost. Gold on the other hand is limited. The average "cost" world wide is over $600 U.S. Using gold as money is as old as mankind. California Indians used certain sea shells, because they were rare. Rarity equals value. A gold backed currency is stable. It's almost impossible to inflate as you would have to back it with more and more gold. During the last run up, gold and silver were almost impossible to get without an extremely long waiting period. At the same time the U.S. government flooded the market with money. Which would you prefer? Ever hear of Zimbabwe? Paper is cheap. So are government promises to stabilize the value of your savings. He who has the gold makes the...

You need to study history to see where this is going. Over the last 100 yrs after a spectacular bull market in equities gold/Dow ratios have closed at 3:1, or LESS 7 times. In 2000 gold/Dow was almost 44:1 today it's 10:1. If you think the market is overpriced (I do) then you should be in gold as history will once again repeat itself.

I am buying silver 500 troy oz. so far. In 2 months the value has gone up 20%. I am happy!

The right idea is to buy low. That's exactly why you should be buying now.

Fools, don't buy gold, they are all time high. Invest in real estate, it's the best time. Price of real estate is rock bottom. Buy gold when it goes down to $300 per ounce. Your a retard for buying gold
LOL

USTreasurer
October 18, 2009 03:52 PM

Fools, don't buy gold, they are all time high. Invest in real estate, it's the best time. Price of real estate is rock bottom. Buy gold when it goes down to $300 per ounce. Your a retard for buying gold. LOL
---
You are the fool, because gold will never hit $300 per oz. It costs over $450 just to mine 1 oz of gold. I believe that the average mine must remove over one ton of rock to extract 1 ounce of gold. Gold IS a currency.

What are you going to do when the US dollar collapses? Are you going to trade a sack of spuds for a sack of wheat? What if he has lots of spuds and needs no more? He won't trade with you. This is why a stable currency is the ONLY way to go. You can use the currency (gold) to buy anything you want.

A currency must be have value and be in limited supply. This is where gold comes in. Why won't you fools listen to our creator...God? He told us to use only gold and silver as currency...and for good reason. All other currencies will fail!!

All these comments regarding buying and selling gold or even real estate expose how everyone is trying to manipuate the market. Forget the advice from these self-serving-tricky-dicky bloggers. I say buy whiskey. In good times you can sell it for profit; in bad times you can drink it.

Rande: I resent being told that a god is my creator: this is superstition.

Secondly, you cannot eat gold. A man in the desert with 500 bars of gold is poor. A man in the desert with ten loaves of bread is fantastically rich beyond the dreams of avarice. He will survive until rescued. Ask your god, though I wouldn't give much for advice from such a materialistic entity.

Eugene,

Wow...I have never heard that God being a creator is superstitious! Since your statement implies that you like to base statements on facts, feel free to provide your proof (not just your opinion) that God is just a superstitious entity. Keep in mind that neither Oprah, your high school gym teacher, nor your favorite democratic representative count as proof. Logically speaking, if you can't supply the proof, then we safely state that NOT believing in the existence of God as a creator is also superstitious.

Isn't it amazing how some people think their cliche'd gibberish sounds so intelligent, but their lives are totally screwed up. I would surmise that Eugene is of that ilk.

Josh and Rande, you are both a pair of spooks. Men and women create people, you dumbos, not god.... try eating gold and silver on dartmoor or the new forest, let me know how it tastes. LOL aunt Lil.

Well whether there is a god or not, 'god' is not going to be investing in anything, saving your house, or feeding your family. There is only true 'god', yourself, so get off your backsides and do some work instead of talking bulls**t in this deadend forum...

You lot are so rude to each other it makes me die laughing. I hope you never all meet up there...it would be a riot! LOL

It would be a great laugh to see all them meeting. I am Kieran. Just going through the site and found this. LOL

C'mon people, take it easy! This is about gold, not God, though it never ceases to amaze me how the God-heads are often the most vicious and spiteful in their remarks. The matter is rather simple--Gold is largely useless really, but its shiny scarcity has ALWAYS made it a successful store of wealth and the same is true today. We are at an economic tipping point whereby, in their desperation, most national governments have sold out their public with intentional currency debasement on a massive scale to salve the fallout from the ludicrous credit explosion they fostered. The crisis is NOT over, it has merely been sidestepped in the short-term with huge sums of cash poured into crippled markets. They will soon crash again, it is only a matter of timing. To those who say gold will crash, I say that I agree, but not for many years. Thus I am still buying bullion today because the gold bubble has MUCH further to go before it pops, whilst nigh all other assets/currencies are due more pain in the near to middle term. If you're not a gold believer you might wanna hold your savings in Canadian bucks as I do (and I'm British by the way!) as it remains probably the most sensible country in the world, thus you can trust its notes.

Why would anybody buy the metal itself? I haven't seen anyone mention an ETF (exchange traded fund). Traded on the stock exchange. No stamp duty and a low management charge, but there is a small spread. Tons of gold are held in a vault and you have shares in it which go up and down with the spot price. So simple.

Imagine this was back in October and then look at the numbers now O_O.

Thanks for the great reading.

Thanks for the great reading, we buy Gold Bullion in a recession. I will pass this on to our Ira clients to read.

"Gold and real estate are the best investments around" all depends on when. The price of gold is so influenced by emotion and so little by its "value" as a pure commodity like, say, copper that it's a risky business to buy near an all-time high. If gold were not considered a precious metal and priced at its actual value to the electronics industry (say), that price would be closer to $100 an ounce. Also, if you buy coins or bullion pretty well anywhere, expect to pay a premium of at least 5%. Ordinary people can't buy at the spot price and, in any case, today's (anti-terrorism) rules require you to disclose so much personal information before purchase that you'll become a nervous wreck if you ever think of taking a bar home!