Gold and Precious metals

[TenOunce Tone]

Gday all.

My son is looking to invest some cash in gold or metals.
I am looking for someone who can give advice on reputable dealers and on what kind of price he should be paying for his choices. He has contacted the Perth mint.
I have said to him to ensure he gets physical gold sent to him by whom ever he deals with. Not some piece of paper saying he owns xx amount of whatever. Those things are a scam in my opinion

He is not into prospecting yet... just dont want him getting ripped off. I know how hard he has worked for the money

Please email me or drop a pm or post.

Cheers Tone

 

[Diggertom]

Best is to buy in hand, Internet is always a little risky. Their are reputable ones out there but you are paying above spot, normally higher.

Also the bigger quantity is better, 1 gram or 1/10th of oz you will be paying quite higher than spot due to printing cost. Never buy anything less than a oz at a time. Though it does depend on amount of capital to invest. Lastly, gold has gone up 300 a oz in last few months so can either buy now, or wait to see if price goes back down.

P.s silver has jumpd $5 in last month a oz almost alone. Roughly 20 percent or more

 

[G0lddigg@]

my personal preference is buying through a reputable Forex platform like igmarkets using CFD's . the spread is generally very low you can use leverage and your outlay is much less.
it might look complicated but if hes serious about investing he should learn the game anyway.

in the example here i can buy into 3 contracts of an ounce but my outlay is only $1428 if the market moves up i make money if the market moves down i lose money. there's no scam in buying gold on the internet you just need to do it properly.

***to be clear i am not offering financial advice nor am i qualified to i recommend seeking professional advice before making any investments****
I am not affiliated with igmarkets it is simply a platform i use myself and have generally had a good experience with.

 

[TenOunce Tone]

Thanks for the feedback, I will pass it on, he has gone and bought one ounce ingot from perth mint. its a start..

Cheers, Tone

 

[Matt80]

Sorry about the late response, but it really depends on why he wants the gold. If it is pure investment then yep IG markets or similar is great as you can leverage your position(make or lose the difference in price rather than invest in the total cost of the product). On the other hand there is a lot of people that think most of the traded gold isn't really being backed up by real gold anymore(a lot of evidence to support this as well) so they want real gold as they think the online gold market may crash and real gold might skyrocket in value. One great thing about real gold is that you can buy it, stash it and not have to worry about it unless you really need it. If buying real gold then the larger the purchase the better the rate you will get. There is also the third group, the world is ending and I need something easily traded group, something that is very liquid and easily monetized, in that case I would go with these https://www.valcambigold.com/products/gold/combibars they are very easy to use in that situation. The biggest thing with real gold is always to buy from a recognized and reputable dealer in order to ensure you really are getting what you pay for(there are lots of scams out there), Perth mint for the record is great in those respects.

Just a heads up that you need to keep your stop losses a long way off the bid/ask as IG and most other online trading companies use in house traders against it's own users to close out any trades that are close to the market(they can see your stops and adjust the market to close them out as they don't work on actual market prices but rather the prices they quote ie your trades can be closed out even if the market never actually traded at that price).

 

[Heatho]

Rhodium, check the historical prices was 10,000 an Oz at one time, about 1500 now, car makers will start using it again in the catalytic converters now it's cheap. Platinum seems cheapish also.