Precious Metals 17% return on my gold purchase from Perth Mint

Discussion in 'Other Asset Classes' started by Abooking, 11th Jul, 2019.

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  1. Abooking

    Abooking Well-Known Member

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    I purchased a modest amount of gold at the perth mint using their online depository program in May last year. I just checked it today and my portfolio is up 17% which Im really happy about.

    Perth Mint gold holdings are all guaranteed by the WA govt' and they even 100% guarantee to buy it back from you anytime.

    I think its a solid investment that all ozzies should partake in. We are heading for a recession along with many other countries. Gold will going up more....

    I'm also in Bitcoin which is evidently digital gold and I've done really well with that as well. I speculate that in 5 yrs time it will be increasing in price massively.

    It's good to know that there are other options than having inflation eat away at ones savings in one of the big 4 banks
     
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  2. Piston_Broke

    Piston_Broke Well-Known Member

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    Bitcoin is nothing of the sort.
    It has no intrinsic value or use.
     
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  3. geoffw

    geoffw Moderator Staff Member

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    I look at gold as a hedge. I'm putting about 10% of my investment funds - some physical gold, and some gold ETF (QAU, which is hedged to AUD).

    Bitcoin is speculation only IMO - possibly worth a small amount as a flutter.
     
  4. geoffw

    geoffw Moderator Staff Member

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    Also remember that physical gold also has a currency factor. Since May, the AUD has gone from 75c against USD to just under 70c.
     
  5. Abooking

    Abooking Well-Known Member

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    I dont understand your comment. If I were to send my fiat to the States and buy gold in America then I would be subjected to currency risk. However, if I buy it at the Perth Mint then there is no currency risk at all
     
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  6. Ouga

    Ouga Well-Known Member

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    Spot gold is priced is $USD
     
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  7. Abooking

    Abooking Well-Known Member

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    But it clearly does have value. Copy and paste from coinmarket cap.com
    1 [​IMG] Bitcoin $205,321,876,835 $11,527.58 $33,850,330,994 17,811,362 BTC -11.03%

    The first figure is the market cap.

    The 33bn is the 24 hour volume.

    If thats not value in a legit market then I dont know what is.

    Its use is clearly deemed to be digital gold.

    I think its old school thinkers like yourself who will miss out on this opportunity of a lifetime. I see the price significantly increasing by 5 yrs time. I will diarize to message you in 5 yrs time. Please check your messages then

    cheers
     
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  8. Piston_Broke

    Piston_Broke Well-Known Member

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    Tulips once had a high price too, but still no value.
    Value and price may look the same to the young and inexperienced like yourself.

    Remember eGold? The other preferred digital currency by the same scammers and ponzis?

    Bitcoin is useless as a currency and worse as a transactional tool or platform.
    There are big forces trying to keep it's value high including some on wall st these days but it still has no economic sense.

    Bitcoin was all about being independent of the banking system, and yet all the hodlers cheered anytime new appeared about any acceptance into the economy.

    The banks will adopt their own blockchain systems and they have enough clout for a global network verification system that doesn't need a bunch of people or geeks stacking up GPU cards.

    Add to that all those scammed which is quite a few billions now, and it easy to pump and dump the next run.

    Good luck, you'll need it
     
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  9. geoffw

    geoffw Moderator Staff Member

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    Perth Mint sells gold around the world. It's traded in USD. If the price remains the same, but the AUD drops, then Perth Mint can sell the same gold for more AUD.

    Screenshot_20190711-202353.png

    Screenshot_20190711-202323.png
     
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  10. geoffw

    geoffw Moderator Staff Member

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    On Bitcoin. Anything which can vary up and down by this much in a week is dangerous as an investment - ok as a small bet using an amount you're prepared to lose.
    Screenshot_20190711-203529.png

    That's AUD 15,000 to nearly 19,000 and back to 15,500.
     
  11. Abooking

    Abooking Well-Known Member

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    I will be in contact in 5 yrs as discussed. Dont go hiding. Your tulips comment indicates you're a golden oldie!

    In the next 5 yrs rather than writing about something you have no idea about why dont you read the bitcoin white paper. Maybe you could try to understand the blockchain. Its brilliant technology IMHO.

    I dont see Bitcoin as a viable payment system and thus your comment about the banks is irrelevant. In simple terms for you.... bitcoin is digital gold. It will be around for a very long time and will become more valuable in the future. Watch the price rise when the next 'halving' occurs or when an ETF is approved
    cheers
     
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  12. geoffw

    geoffw Moderator Staff Member

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    The tulips comment means that he knows history. The tulip bubble collapsed in 1637 - and has been raised ever since as the prime example of a classic over exuberant bubble.
    Tulip mania - Wikipedia
     
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  13. Lindsay_W

    Lindsay_W Well-Known Member

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    For the sake of educating us all can you please explain what makes it digital gold?
     
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  14. SatayKing

    SatayKing Well-Known Member

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    Sometimes even the smartest people get it wrong when money and investing is involved.

    "Back in the spring of 1720, Sir Isaac Newton owned shares in the South Sea Company, the hottest stock in England. Sensing that the market was getting out of hand, the great physicist muttered that he ‘could calculate the motions of the heavenly bodies, but not the madness of the people.’ Newton dumped his South Sea shares, pocketing a 100% profit totaling £7,000. But just months later, swept up in the wild enthusiasm of the market, Newton jumped back in at a much higher price — and lost £20,000."

    At a guess probably maybe $5m today. Easy come, easy go.

    It's from an annotated version of The Intelligent Investor
     
  15. willair

    willair Well-Known Member Premium Member

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    [​IMG]

    Even the street vendors were selling share's at night in that company,only the clothes and dates are different..
     
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  16. jprops

    jprops Well-Known Member

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    This comment exposes your lack of knowledge here. Gold is priced in USD and converted to AUD. Thus currency risk.
     
    Last edited by a moderator: 12th Jul, 2019
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  17. Redwing

    Redwing Well-Known Member

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    2019 Financial Year ETF & LIC performance report

    • ETPMPD ETFS Physical Palladium ETF 68.38%
    • BTI Bailador Technology Investments limited LIC 41.89 %

    • ALI Argo Global Listed Infrastructure Limited LIC 28.33 %

    • MVA VanEck Vectors Australian Property ETF 24.78 %

    • ETPMPM ETFS Physical Precious Metal Basket ETF 24.07 %

    • GDX VanEck Vectors Gold Miners ETF 23.52 %

    • GLIN AMP Capital Global Infrastructure Securities Fund (unhedged) (managed fund) ETF 21.5 %

    • URB URB Investments Limited LIC 19.72 %

    • MGE Magellan Global Equities Fund ETF 19.43 %

    • PMGOLD Perth Mint Gold ETF 19.35 %










     
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  18. Hodor

    Hodor Well-Known Member

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    Are you trying to show all the junk that can show good returns over a single year?
     
  19. CowPat

    CowPat Well-Known Member

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    Wait till the Government steals your physical gold

    Reserve Bank of Australia part 4 of the banking act 1859

    was used by the Australian governments - Gold Tax Act 1939
    and it was not repealed until 1947


    many governments around the world have confiscated physical gold including USA 1933


    and the Great Britain gold prosecutions 1966
     
  20. Piston_Broke

    Piston_Broke Well-Known Member

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    You keep projecting and fantasizing what bitcoin is.
    Remember the whitepaper?
    "Bitcoin: A Peer-to-Peer Electronic Cash System"
    "Abstract. A purely peer-to-peer version of electronic cash"

    Now that new digital currency has been a complete failure the hodlrs change the tune.

    But one thing the bitcoin bubble did show is that the oldest rule of markets still applies.
    The money goes from the inexperienced to the experienced

    First it was the ponzis, most of which were very experienced with egold (and similar) ponzis.
    This got so big that USI and Bitconnect both run by oldie goldie scammers fleeced users for a few billion dollars.

    Then you have the gambling sites, a newer generation of scammers, but crooks the same fleecing millions of dollars to the select few.

    Then when bitcoin hits the the big time, the big old boys come and fleece a lot more billions in the biggest pump'n'dump of all time.

    This in turn lowers business for exchanges (mostly scams too), so they in turn run away with the depositors bitcoins. Which is probably now also over a billion.

    The most valuable thing bitcoin has is the scammability.
    I doubt many people will see much long term value.

    And btw bitcoin does not equal blockchain.

    PS I'll be here hoping that when I short again, you will be on the other side of the transaction.
     
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