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10-05-2024, 09:29 PM
#8731
Originally Posted by JBmurc
Not that I recall .. I've seen 64,000oz Silver Bullion a mate purchased 2007... think he will do very well next several years .... Wish I had a big pile of Bullion ..sadly only got around 200oz these days ... but do have many dollars in the GOLD/Silver miners .. I like the leverage
He has a lot of silver bullion. He must have been tempted to sell it in 2011 when silver spiked to about $NZ60/oz. I just have a few Perth mint 1oz and 2oz kookaburras and lunar coins I was lucky enough to be given as gifts over the years. Some of them in great proof finish.
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10-05-2024, 10:31 PM
#8732
Originally Posted by Bjauck
He has a lot of silver bullion. He must have been tempted to sell it in 2011 when silver spiked to about $NZ60/oz. I just have a few Perth mint 1oz and 2oz kookaburras and lunar coins I was lucky enough to be given as gifts over the years. Some of them in great proof finish.
yes he did sell like 5000oz close to the peak back to the dealer..
yes might well add a few more silver bars to the pile be great to get back to 1000oz
Few kiwis doing it tough Cost of living etc .. seeing a few great bullion prices around on TM - facebook marketplace close to spot silver price
"With a good perspective on history, we can have a better understanding of the past and present, and thus a clear vision of the future." — Carlos Slim Helu
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11-05-2024, 09:26 AM
#8733
Originally Posted by JBmurc
yes he did sell like 5000oz close to the peak back to the dealer..
yes might well add a few more silver bars to the pile be great to get back to 1000oz
Few kiwis doing it tough Cost of living etc .. seeing a few great bullion prices around on TM - facebook marketplace close to spot silver price
I was gobsmacked at the spread the physical traders in NZ were charging when I did a tour of them back in 2005ish. I think the bid offer spread on gold was something like $70 and that was when gold was trading around $US650ish.
The Aussies had much tighter spreads & most of the NZ guys source from the Perth Mint anyway.
There is a tiny refinery in Melbourne that recycles gold, but I can't remember the name of it.
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24-05-2024, 08:19 PM
#8734
Originally Posted by Daytr
Keep it up chump.
The chip on your shoulder is only offset by the eyepatch.
Quite ridiculous.
You keep telling us of these stocks you are reinvesting in as one day they will be worth much more. Markel for example.
Ok will do.
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25-05-2024, 08:13 AM
#8735
Originally Posted by Daytr
I was gobsmacked at the spread the physical traders in NZ were charging when I did a tour of them back in 2005ish. I think the bid offer spread on gold was something like $70 and that was when gold was trading around $US650ish.
The Aussies had much tighter spreads & most of the NZ guys source from the Perth Mint anyway.
There is a tiny refinery in Melbourne that recycles gold, but I can't remember the name of it.
The spread is about NZD $225 today! Basically par for the course in NZ - we always end up paying more than in bigger countries.
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25-05-2024, 11:35 AM
#8736
Originally Posted by Bjauck
The spread is about NZD $225 today! Basically par for the course in NZ - we always end up paying more than in bigger countries.
Wow that's mind-blowing!
I've been thinking about Gold's pullback & is there anything more to it than a correction as the dollar strengthened & the likes of copper & to lesser extent oil all came back.
The US has delivered a handbrake to Israel recently & that should mean a little less tension to be factored in, overall though I think it's just a correction in a much bigger move higher.
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26-05-2024, 08:19 AM
#8737
Interesting view from Forbes on returning to a gold standard. Seems unlikely, but China certainly has a strong affinity to gold.
https://stockhead.com.au/resources/g...0says%20Forbes
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26-05-2024, 11:00 AM
#8738
Originally Posted by Bjauck
The spread is about NZD $225 today! Basically par for the course in NZ - we always end up paying more than in bigger countries.
By 'spread', do you mean the difference between retail price minus spot gold price? If so, it is half the amount that you are suggesting. As a % that's a tiny profit margin to the seller.
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26-05-2024, 02:28 PM
#8739
Originally Posted by Baa_Baa
By 'spread', do you mean the difference between retail price minus spot gold price? If so, it is half the amount that you are suggesting. As a % that's a tiny profit margin to the seller.
By spread I refer to the price at which you can sell your gold versus the price at which you can buy gold. The “gold price” is more or less the mid point.
“The price spread is the difference between the price offered to you when you want to buy precious metals and the price bid for your bullion when you want to sell.”
I presume Daytr was referring to that usual definition of ‘spread”, as he referred to bid-offer.
Gold dealers will buy gold bullion at a price less than the quoted gold price.
Last edited by Bjauck; 26-05-2024 at 02:39 PM.
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26-05-2024, 02:42 PM
#8740
Originally Posted by Bjauck
By spread I refer to the price at which you can sell your gold versus the price at which you can buy gold. The “gold price” is more or less the mid point.
“The price spread is the difference between the price offered to you when you want to buy precious metals and the price bid for your bullion when you want to sell.”
I presume Daytr was referring to that usual definition of ‘spread”, as he referred to bid-offer.
Gold dealers will buy gold bullion at a price less than the quoted gold price.
Yep, the difference between bid & off = spread.
There are always physical premiums or location discounts to consider but these are typically very small.
For comparison the bid / offer spread on CMC markets is typically around 40c.
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