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We went to Dubai years ago got 22ct gold vat free when i think they charged vat in the uk, I may be wrong. We were not asked about it on our return. Sold it at a good profit a few weeks laterI bought cheap gold from Africa once. In Congo it's sold by militia and Army men. Bought at a 25% discount. Gold in Africa is very cheap. There's so much gold in Africa yet they are poor. I am going there again!
Rather than trade in gold directly, I buy/sell shares shares in mining companies.
Eg Centamin (CEY). It’s included in the FTSE-250, but because it’s based in Jersey there is no Stamp Duty to pay when you buy. I’ve sold at up to 119p/share and bought at down to 82p/share within the last year. Sometimes it takes a minute or so to get trades executed but normally there is a tight (about 0.1%) bid/ask spread.
the shares you post about are not really gold trading are they? If the mine falls in on itself or other damage etc or they stop finding gold, no matter how high the gold price is as the CEY share price will be zero or worth that to holders.
What I posted about was having the goods in your hand and that way the gold will corr elate with prices
Investment gold in the Uk is vat free and since gold jewelry, unless from a well known maker, is usually sold at its bullion price its VAT free status in Dubai (actually 5% now) would be unlikely to make any difference. The jewelry itself would be cheaper in Dubai because of the smaller rate of vat but not the intrinsic value of the Gold. That would be based on what is known as the "spot price" which is an international dollar value, i.e. the same everywhere.We went to Dubai years ago got 22ct gold vat free when i think they charged vat in the uk, I may be wrong. We were not asked about it on our return. Sold it at a good profit a few weeks later
You are right that mining share prices don’t exactly correlate with gold prices.
And for instance there was a scare with Hochschild (HOC) on 22nd Nov. I was slightly exposed but very fortunately added at 70p/share in the morning and sold some off at 117p/share in the afternoon to rebalance the situation.
I also monitor oil prices and buy/sell shares in oil companies rather than want to deliver oil into or collect it from a depot in Oklahoma.
I dont know about gold but yesterday i bought shares in companies where the share price is at a historic low e.g cinema chains and airlines. My thinking is that the covid drama will eventually end and the share price of cinema chains and orange colored airlines will rise as i dont think people will stop flying forever or stop going to cinemas forever
That's great. We should form a teamWe went to Dubai years ago got 22ct gold vat free when i think they charged vat in the uk, I may be wrong. We were not asked about it on our return. Sold it at a good profit a few weeks later
Gold goes up and down every day,today it’s £47 a gram, in 2020 it reached £50.It is probably a much safer investment now than any bank at 3% interest and true inflation of close to 20%.Investing in gold is one of the safest ways to invest since gold is the world currency, and there is no risk that gold will fall in value.
We went to Dubai years ago got 22ct gold vat free when i think they charged vat in the uk, I may be wrong. We were not asked about it on our return. Sold it at a good profit a few weeks later