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Bumble

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  1. AUCP is an alternative to GDBG for gold miners. AUCP is also London-listed, and although it is about the same size, it appears to be much more liquid. High liquidity is a good thing with funds, just as it is with stocks. Of course, GDX is a monster compared with either.
  2. It looks like HL don't cover GLD because it doesn't have a current KID, which is odd. PHYS is not allowed in ISAs. You can buy PHAU though, which is a London listed fund.
  3. Looks like it. If you can get gold at $1600 at present, it's probably a good deal. Of course there are no guarantees of what will happen next week.
  4. According to Kitko, the difference in prices may be because traders regard the London (LBMA) price to be unreliable, because of the lockdown. If that is so, the prices should converge once Comex opens.
  5. Spot price just dropped over $90 and then bounced back in 15 minutes. Strong bounces like this are usually bullish.
  6. Kitko's price is a spot price, and it is showing much higher than the Bullion Vault price. When the futures price is higher than spot this is called 'contango' and is the normal state of affairs for a commodity, because the buyer is effectively buying a guarantee of a future price, and this usually comes with a cost. The opposite state of affairs is called 'backwardation' and is usually considered bullish for a commodity because it indicates that buyers are desperate to buy for immediate delivery and will pay a premium price, because they believe the price is about to rise.
  7. Gold prices are extraordinarily volatile today. As of 11:15 GMT, Kitko is reporting $1659 spot. CNN is reporting April futures at $1641. Bullion Vault have $1596, which is their own live price for Zurich. The ticker at the top of thesilverforum is reading $1592.
  8. Royalty companies are probably the safest thing to buy, because they have a low-risk business model. Big royalty companies like FNV own more than 100 royalty streams, so you are getting plenty of diversity. They are expensive by traditional measures, but they deserve to be, because of the way they operate. The big guys are FNV, WPM and RGLD. Smaller ones are SSL/SAND, OR, MMX, EMX, MTA, ELY, RZZ. The other way to diversify is to buy funds like GDX, GDXJ, or the Sprott funds SGDM, SGDJ.
  9. 1. Silver, platinum and palladium are primarily industrial metals, so it is no surprise that their price has fallen considerably. Industrial metals are not a clever thing to own in a recession. Copper has also fallen sharply. 2. Gold is mostly used for jewelry and as a monetary metal. Demand for jewelry could fall in a severe recession, because it is a discretionary purchase. Gold remains a safe haven asset. 3. Gold miners tend to work in remote locations and may reasonably be expected to be less affected by the virus than other more consumer-facing businesses. 4. Fuel costs make up about 20-25% of the expense of a mining operation, so cheap oil is good for gold miners. 5. The high value of the dollar (DXY is over 100) depresses the gold price, but it has less impact on gold miners because most of their costs, such as wages, are in local currency. 6. Junior miners are finding it harder to get financing, and are more likely to finance themselves by selling a royalty. This is good for the royalty companies, because it will enable them to snap up royalties at distressed prices.
  10. Buried in the small print of the ETF terms and conditions is the provision that the ETF manager may claim force majeure in the event of a serious incident or financial crisis and settle investors in cash at an earlier day's price. This means an investor could lose out on a major revaluation.
  11. I went to my local HSBC branch and asked if they would launder some drug money for me and the teller just gave me a funny look.
  12. Cash is king in a recession. You can definitely pick up some bargains. Warren Buffett's Berkshire Hathaway fund reputedly has $130 billion of cash ready to deploy. When he thinks its time, he'll be buying up value stocks at bargain basement prices.
  13. I remember when a trillion dollars was considered a lot of money.
  14. I presume you do not want to take delivery of barrels of crude oil in your front yard. If you had a brokerage account, there are ways of exposing yourself to the oil price. You could buy futures contracts, options, ETFs, leveraged ETFs, or contracts for difference. Without a broker, I suppose you could spread bet the oil price through a betting account with a bookie. Not sure that it's a good idea for amateur investors.
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