Would You Like To Buy Gold and Silver With Stink Bids?
If you want to buy gold at the lowest price, you need not only to be monitoring the market 24/7 but also to have a way to actually buy the gold when the price drops to the price you want to pay for it.
Not easy to do. Often that low price comes in the middle of the night or when you are at work earning the money to buy the gold.
Wouldn’t it be nice if you could buy gold with a limit order just like a stock? Yes, it sure is.
We buy gold that way all the time at BullionVault.
Because at BullionVault you not only get the opportunity to buy at a price determined by the MARKET, at that SECOND (unlike your local dealer or even GoldMoney), but you also have the option of placing an order for the price you are willing to pay and leaving that order open for as long as you choose!
You never know when the powers that be are going to squash the price of gold, nor how long it’s going to remain at that price. Often, not long.
With a limit order on your gold buy order, you can actually “ladder” your bids down lower and lower, buying at increments downward. That way, you probably buy SOME gold just based on normal fluctuation, but if there is high volatility, you have the opportunity to buy a LOT of gold at LOW prices!
Just as you might be place “stink bids” on your favorite gold mining stocks, now you can place stink bids on gold and silver. The perfect way to profit from the volatility caused by intervention and manipulation and who knows what else.
As an added benefit, with BullionVault your gold is stored securely – at super low rates – offshore.
In the video below, watch as we show how easy it is to buy gold with a limit order at BullionVault.
Isn’t that easy?
Doesn’t it make you want to login right now and place some stink bids for the next time gold (or even silver) is knocked back 10 or 15 percent?
Here is the full transcript of the video:
Hi, and welcome to BuyandStoreGold.com.
In today’s short video, what we’re going to do is buy some gold, and we’re going to use a limit order so that we can buy gold at a price below what it is currently trading for.
Now where we can do that is at BullionVault—and as you can see on our website here, we’re at our homepage of BuyandStoreGold.com—we’ve got some banners here for a couple of companies that we use and trust: “BullionVault”, and “Gold Money”.
Now we like them both, but Gold Money does not allow us to “choose our price”, so to speak—such as by using limit order—and BullionVault does, so we’re going to BullionVault by clicking on the banner
If you do not have an account, you can go up and click on this link to open an account.
In our opinion, BullionVault is a little bit easier than Gold Money to open an account; it’s very simple, straightforward, quick to get done—with the current promotion they’ll even give you a free gram of gold—and I think currently that’s worth about sixty-five dollars…something like that…but if you already have a BullionVault account, you’ll click log in, enter your username and password, then click submit.
And in just a moment, you’ll get to a screen that may depend, it kind of leaves you where you last left off—but here you have the order board.
And the order board, by default, might look a little bit intimidating, because it might come up with all currencies, all bullion, and in units of kilos.
BullionVault’s a little bit different, they operate in kilograms of gold; which is about fifty-four-thousand-some dollars right now, and it can be a little bit intimidating that way as well.
We’re in the U.S., so we’re going to choose “dollars”, and we’re going to choose “Gold in Zurich” (you have the choice of London or New York) and this is where the gold will be stored when you buy it. With silver, your only choice is London, unfortunately.
Now, since we are in the U.S., and we want our gold off-shore, we are going to choose Zurich—we trust the Swiss a little bit more than the British since the British have done raids and things that make a person feel a bit uncomfortable—then we’re going to switch from “kilos” to “Troy ounce”.
Here you can see a little message that in response to customer request, they are trying to show in Troy ounces now, kind of something they’re testing. You can see here where a Troy ounce is approximately .031kg.
And here you can see where you can actually just buy or sell right here with the click of a button and get the best offer, or the best bid, and here’s where BullionVault is different again from say, Gold Money (or really any other place I know of) they actually have a market going and you can get hopefully a little bit better of a price when you buy, or when you sell, by having this market available rather than just a set price.
Over here you can click the buy tab, the sell tab, or just the wizard, but since we want to buy with a limit order, we will use this buy tab and we will choose again “Gold Zurich”, currency; dollars, (could be pounds or Euros) and here is where we’re going to put in our limit price.
The current price you can see there is about $1715 —there you see best offer—we’re going to put in $1696 just because we think well, that’s just a little bit above maybe support level, we’ve got…let’s say we’ve got $500 to buy right now with.
Leave the quantity at zero, they’ll fill that in for us.
Now here we have the bid duration, you can either have it be permanent, or immediate—now fill or kill means if it can’t happen, they’re gonna kill the order immediately—or what we prefer to do is this “until date”.
Check that box, and you get this little pop-up calendar, you can select your date; you can go into the future whatever you’d like, you know—more than a month of so—and if you select a date and click OK, now you’ll notice that we have a quantity up here of .29 ounces, it’s filled that in for us, and here we can click “buy/bid”, and it says “place this order”, but it’s not confirmed when you click this button.
The next screen will show the order in kilograms. So you can either clear the order, if you want to start over, or “buy/bid”.
And it says here your order has been converted from ounces to kilograms to the nearest gram; but please confirm your order below, the order has not been placed yet.
- Bullion is Gold, stored in Zurich.
- Currency is dollars, in this case, U.S. dollars.
- Price per kilogram—$54,528—a little intimidating…
- Quantity: 0.009kg
- Order value…well they’ve kind of rounded it, and it’s underneath our limit of $500 total for the order
- and the order is good until, in this case, March 30th of 2012 at 10:50.
And it says here that you’re placing an order at $54,528 per kilogram which is equivalent to $1,696 per ounce. Now you can either confirm the order, or click “back” and go again.
Now we’ll confirm the order, and you’ll notice that the bid is active, your order is now open—this is what you want to see—it gives you an order number, which obviously will be unique; a date and time…
Now here you can click “done”, you can refresh, or you can kill the order right here; terminate the remainder or the order. So if you click “done”, you’ll just go back to the “buy, sell, wizard” screen and it will be blank and empty; or you can kill it if it’s not what you wanted.
You can see here at the bottom that the order’s been matched at 0%. You might find that on a larger order that maybe 10% of the order’s been matched on a limit, and it will show you what those amounts are, until it finally goes up to 100%, or maybe it won’t.
The one thing to keep in mind with limit orders is that the market can run away from you. So if you do not have a position in gold or silver where you’re trying to buy, I would not personally recommend—and this is not investment advice—but I personally would not recommend putting all of your order into a limit, because the market could go away from you and never get filled.
But what we personally do, is take some of the money we want to deploy, and buy at a current price once we decide that’s the thing to do, and then we’ll take another portion, and maybe try and get a little bit better price for those days when volatility’s a little high and the price drops down a lot, and we can get a little bit better price; and that’s always nice to do—the volatility we had the other day; a hundred dollars in one day, I mean, there were a lot of limit orders that I’m sure were filled on that day. We’ve had that happen to us in the past, and we’ve been very happy as the price roared up in a way afterward.
So that is it for this short video, please come to our website, BuyandStoreGold.com, we’ve got a lot of reviews and other information here that we hope will be helpful.
If you like what you see, please like us on Facebook, Tweet us, and you can follow us on Twitter and Facebook, and our RSS feed—and we hope you will come back often!
That’s it for this video, thanks very much for watching! Until next time.