Bullionvault.com

7 posts / 0 new
Last post
polumathes's picture
polumathes
Status: Member (Offline)
Joined: Mar 1 2009
Posts: 5
Bullionvault.com

Has anyone been using Bullionvault.com for a while (i.e. longer than two years) and if so, have you encountered any problems, issues or concerns with it?

 I have noted their policy is to allow you to have only one bank account linked to your gold account, so that you may only deposit/withdraw from/to this single bank account (obviously not good if the bank account becomes frozen or otherwise inoperable).

SteveR's picture
SteveR
Status: Bronze Member (Offline)
Joined: Dec 4 2008
Posts: 71
Re: Bullionvault.com
polumathes wrote:

I have noted their policy is to allow you to have only one bank account linked to your gold account

The upside is that it improves security, because if someone hacks into your account, they can't send your funds out to some other account.  BTW - GoldMoney allows you to link to multiple bank accounts, or you can lock it down to just one, for security purposes.

john50's picture
john50
Status: Bronze Member (Offline)
Joined: Sep 2 2008
Posts: 74
Re: Bullionvault.com

I would caution you, based on my experiences.

First, online gold ecurrencies have historically been a disaster - losing all the deposits on hand. The largest and oldest was E-gold, followed by E-bullion, both were closed and account holders were left without any recourse. There have been countless others, many were Ponzi scams that closed their doors as soon as the deposit base was worth stealing.

Second, gold is very volatile. It is anything but a smooth ride even for professional bullion traders.The one year performance is a small negative number, gold was $960 last March, and is $930now. You would have been better in cash or t-bills.

Third, while I like gold, the proper value for it right now is highly inflated. The gold bubble is still deflating, and commodity or gold traders (like myself),see gold falling to about $650 over the next couple months. The recent run was a corrective move that peaked at $1000, and has already turned lower to break support at $930 in one week. Retail gold traders, (called "dumb money"), were 96% bulls, which is a contrarian sentiment indicator that relaibly shows the market has pushed as high as it can go within this bearish cycle.

So before you dump all your savings into gold out of fear, realize that gold is not immune to defaltion or market corrections, and historically does well during an inflationary expansion, not a deflationary contraction.  :)

 I have posted some historic charts on my trading blog.  http://vault.bz

 

 

 

 

polumathes's picture
polumathes
Status: Member (Offline)
Joined: Mar 1 2009
Posts: 5
Re: Bullionvault.com

John, how do you arrive at your projected price of $650?  And where do you find out sentiment indicators?  Obviously, I'm new to this -- thanks.

Roberthorse's picture
Roberthorse
Status: Member (Offline)
Joined: Aug 6 2011
Posts: 1
Bullion Silver Market

Can anyone explain why the Bullionvault BUY/SELL prices have remained exceptionally higher than the internationally derived CHART prices after the sell off on Thursday/Friday [4th-5th August]?

For example, the last CHART price on Friday is circa £750/KG but the current SELL/BUY prices [of quantities above say £10K] are £794/£788 and this gap between BUY/SELL and CHART prices is a LOT bigger than normal.

For example, do the participants on Bullionvault think that a lot of the downward CHART price movement was a result of short selling by the alleged manipulators and is therefore artificially low and will therefore rebound?

Or is this a 'bot' induced phenomenon that will be adjusted when the markets open on Monday morning?

I would be interested to hear views on this situation and the likely outcome.

I would also be interested to hear views on the possibility that Bullionvault themselves make profits by buying and selling at the prices in their market place.

 

 

jumblies's picture
jumblies
Status: Silver Member (Offline)
Joined: Jun 13 2010
Posts: 244
Roberthorse wrote: Can
Roberthorse wrote:

Can anyone explain why the Bullionvault BUY/SELL prices have remained exceptionally higher than the internationally derived CHART prices after the sell off on Thursday/Friday [4th-5th August]?

My understanding of this is that the charts are spot price whereas because trading bullionvault metals are physical there is therefore a premium. In other words you can buy the SLV or GLD for closer to spot because there is no real metal there so there's no supply constraints. Buying from BullionVault you are buying real physical metal which trades at a premium.

Didja see the spreads in the NYC vaults on Friday night? $1600.

 

Trustable's picture
Trustable
Status: Member (Offline)
Joined: Nov 24 2011
Posts: 3
bullionvault.com

Hi all,

 

we have made good experiences with Bullionvault. We provide a comparision and rating website that looks at vaulted gold. Therefore we had a thorough look at BV and gave them our trusted provider seal.

I think, vaulted gold for many investors is the best way to invest in gold, as it is physically existing and you have no hassle with storage and big buying and selling spreads.

For more information have a look at our website: http://www.trustablegold.com

I would be happy about a more detailed discussion on vaulted gold.

 

Best,

Mark

 

 

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Login or Register to post comments