Discuss about gold trading...

@kdrptc (11)
January 6, 2010 1:37am CST
Hi, I wish to enter gold trading soon. So.., I think its better to accumualte infos about gold trading in what ever way I can. Basically, I am an Indian. If any one who has had experience in gold trading here, then please let me or the needed ones know something which you know to gain knowledge about it and gain some confidence before entering in it. Thanks one and all in adavance who comes here and give their views.
5 responses
@magtibaygom (4865)
• Philippines
7 Jan 10
Hi, I saw your post, and it got me interested. Thanks for starting a discussion about gold trading here. It's a good thing you discussed it here because I am reminded that I am a member of BullionVault. I would like to provide you some basic information here: BullionVault is an Internet Gold Bullion Exchange and physical storage provider, founded in 2005 by Paul Tustain. It is owned by Galmarley Ltd. and based in London, United Kingdom. Purchased Gold is held in personal allocated storage with Via Mat International in either London, New York, and Zurich depending on the client's preference. BullionVault commission charges range from 0.8% to 0.02%, and its custody charge is 0.12% per annum with a $4 monthly minimum charge. Clients in BullionVault hold their Gold in vaults controlled by BullionVault, thereby creating a legal bailment. This is different from most other online gold facilities, which purport to create a digital gold currency. BullionVault enables users to buy and sell gold at prices set by them ensuring an open and competitive 24/7 market. To prevent "money laundering", BullionVault asks new clients to provide proof of identity and address. Also unlike digital gold currency, they do not allow the direct transfer of gold units between user accounts unless they are sold via exchange facility. This contrasts with digital gold currency which may act as electronic money. BullionVault also undertakes daily audit to reconcile every client's holdings against the latest bar lists and bank statements. In 2009, BullionVault was one of the winners of The Queen's Award for Enterprise (Innovation Category). As of Sept. 11, 2009 and according to their website, BullionVault hold over 18 tonnes (584,037 troy ounces) of gold in storage. BullionVault is the sole operating business of Galmarley Ltd., company number 4943684 registered in England. If you are interested in BullionVault, here's the URL: http://www.bullionvault.com/#magtibaygom After your registration, you will receive your first free 1 gram of gold to help you learn to trade.
• Philippines
7 Jan 10
Looks like the above referral URL is mangled. You can try this one instead http://www.bullionvault.com/#magtibaygom
• Philippines
8 Jan 10
I'm sorry I didn't know that it is against MyLot terms of use or MyLot policy to post links or referral URL in comments. I only learned that a while ago while surfing other discussions. Can we change what we have already posted? I mean, can we remove the link?
@teamrose (1499)
• United States
7 Jan 10
It is important to know if you want to trade actual goal you own? Or trade gold futures? Big difference.
@kdrptc (11)
16 Jan 10
Ofcourse...! Big difference.. I meant gold futures..
@advokatku (4039)
• Indonesia
6 Jan 10
Gold is a kind of precious metals precious commodity. In general, people familiar with the facilities of this investment. Generally, those who invest funds in the form of gold, would want the benefits, namely by getting the difference of buying and selling price. For example, you buy at the price of Rupee 90.000 / gram, you will sell if the price rises to $ 9.200 / gram. This is common.
@kdrptc (11)
6 Jan 10
Thank U for ur kind infos.. Yupe.. Me too do know little bit of things... But My way of knowledge is so general. So, I am waiting for precised infos which can help every one who likes to enter into this trading. Let us wait some more friends come and give us little more elaborately.
• India
23 Jan 10
Trading looks very profitable, but is NOT. You are better being an investor. You can invest in Gold ETFs or better invest in gold mutual funds like DSPBR World Gold Fund and AIG World Gold Fund. you can visit http://goodfundsadvisor.blogspot.com which has more details on Gold Trading. Best of luck, Srikanth
@tazaam (1)
6 Jan 10
it'nise