Buying and selling gold

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Messugga

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So with the gold price going crazy (Wish I got around to getting into the market a few months ago when I wanted to), I've been wondering about how the buying and selling of it actually works. Do you pay the ounce price plus a small markup at a place like the Scoin shop? I assume they buy back at slightly below the official gold price as well? Do their prices fluctuate along with the price?
I'm just kinda curious about it.

Kind regards
 
Messugga said:
So with the gold price going crazy (Wish I got around to getting into the market a few months ago when I wanted to), I've been wondering about how the buying and selling of it actually works. Do you pay the ounce price plus a small markup at a place like the Scoin shop? I assume they buy back at slightly below the official gold price as well? Do their prices fluctuate along with the price?
I'm just kinda curious about it.

Kind regards
Click to expand...

Yes that's right, prices are based on spot + markup.
investgold.co.za has the best prices I've found for krugers, scoin is overpriced.

You could also go for etfs but I prefer bullion myself.
 
etf is generally a safer way to trade, generally for people who cannot sit and watch the price of gold all day.
 
Get a sharetrading account and buy newgold, or get a FNB account and you can buy gold directly.
 
Great stuff, thanks guys. I'll look into the options mentioned. What I like about buying bullion is that the cost to enter the market is relatively low. I'm not really at the spot yet where I can invest hundreds of thousands in one go, but ten or twenty grand is quite possible, so two ounces in bullion would be a nice way to go, it seems.
 
Messugga said:
Great stuff, thanks guys. I'll look into the options mentioned. What I like about buying bullion is that the cost to enter the market is relatively low. I'm not really at the spot yet where I can invest hundreds of thousands in one go, but ten or twenty grand is quite possible, so two ounces in bullion would be a nice way to go, it seems.
Click to expand...

bullion is also portable, and kruger rands are legal tender, so exempt from vat.
 
When I saw your thread I had to check twice because this is the first time, I think that anyone has spoken about buying and selling real gold and not WoW gold!
 
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