Record UK Gold Sales

[Scuzzle]

UK's largest bullion dealer Bullion By Post records biggest day sales ever £5.6 million pounds

http://www.telegraph.co.uk/finance/personalfinance/investing/gold/12151770/Investors-go-bananas-for-gold-bars-as-global-stock-markets-tumble.html

This would suggest to me that something big is happening in the markets, STG Report  on Youtube saying Bill Holter has it on good authority gold will go up by $100 tomorrow.

[Stu]

For bullion by post to gross £5 million in sales would suggest to me that they have somehow managed to con 5 customers to purchases a 1 ounce coin each,given there current prices. 

[Scuzzle]

Just looking around UK bullion dealers sites now and nothing seems to be sold out which is what I would expect if indeed a record demand day and queues around the block were occurring.

[Vern]

When the price shoots up or gets hammered down we get the same shouting out from the roof tops from....*the experts* lol

The pumpers and doomers jump on the bandwagon after the event or price surge.  

Good luck to the dealers, without them we would have to dig it out ourselves  

[Paul]

Ask a bullion dealer

• Prices shoots up - "its a good time to buy gold"
• Price smacked down - "its a good time to buy gold"

For me it is always a good time to buy gold for me, put a little into it every month, in line with what you can afford. 

Converting spare paper fiat debt money to Gold/Silver is my reward & treat from my hard work once my bills are paid 

Cash I could very easily waste on useless consumer crap / fashion / nights out / gambling or technology you really dont need that will be out dated/broken or made obsolete in a few years time.

 

[MikeOxlong]

The shocking thing for me is bullion by post is Britains biggest gold dealer

[Stu]

47 minutes ago, MikeOxlong said:

The shocking thing for me is bullion by post is Britains biggest gold dealer

Exactly, who actually buys from them?

[KDave]

Agreed I bought my first gold and silver from BBP when I didn't know any better. Their website layout is one of the better ones and the range of what is on offer is one of the best, but the premiums are ridiculous. I have not bought from them since early 2014, because they are simply not competitive with other on line dealers.

@Scuzzle It is interesting that in the UK the physical supply from the secondary market is apparently exceeding demand temporarily. Perhaps this can be explained by the price being set by demand for 'paper' vehicles and not physical. Judging by the amount of physical on offer there appears to be a lot of people looking to sell their physical now the price has risen, but this kind of selling has no effect on the price. Perhaps that is an indication that this rally in gold will be short lived but I am not sure. Most likely there will be at least some paper sell off caused by profit taking at some point in the next few weeks I would have thought. It would be unusual to see the price keep rising after such gains without some correction. Just my thoughts.  

[Pipers]

World gold council site gives official sales and sales were up last 1/4 

 

[JB3]

I have bought from BBP - they aren't the cheapest, but they do have good customer service. I also like the 'investment calculator' which tells me the cheapest way to buy my metal.

 

Until I worked out that I could always buy it cheaper elsewhere.

 

That said, I'm trying to limit the places I buy from - I'm down to two, even if that means the premium isn't the best available; I don't want a million sellers to know the address they've delivered PMs to.

[BaldyBob]

1 hour ago, JB3 said:

I don't want a million sellers to know the address they've delivered PMs to.

BBP have been happy to give a map of gold purchases by postcode to the Daily Telegraph in the past

[thesoundman]

On 12 February 2016 at 23:56, Stu said:

Exactly, who actually buys from them?

I did, when I first started to get into PMs bbp was the best looking and safest website.

Now I'm more comfortable with who are the good guys I can shop around a bit more :-)

[Kman]

Bullion by post would make up anything to promote themselves

I wouldn't believe a thing they say.