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Robert S
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Buy Gold, Lose 8% on a 6% Profit - Adrian Ash - Bullion Vault

Adrian Ash makes fun of gold buyers who pay 8% to 14% over spot in order to take possession of the gold. Yet he has no shame to admit that buying gold via BullionVault would lead to a 100% loss if the gold is kept for a sufficient long time. Indeed, the minimum storage charge of $4 per month means that after 300 month, the one ounce of gold bought for $1200 would result in a 100% loss if bought and stored at BullionVault, while the idiot buyer who gave up 8% by buying retail still owns his 1oz gold coin. Shame on you Adrian!

But thank you Adrian for informing us about the true nature of BullionVault. It is a business designed to make money for the owners of BullionVault by charging idiot gold buyers high storage fees. And you Adrian are being paid by BullionVault to write nonsense articles promoting BullionVault.

Adrian is also unethical in suppressing information about competitors like Bitgold which do not charge any storage fees. According to Bitgold, one can buy and sell gold with them for a 1% fee. Indeed, the quoted premiums of 8% to 14% over spot quoted by Adrian represent the maximum in the market. One can equally easy buy 1 oz bullion coins for a premium of 3% to 4% premium (including shipping fees).

Commented 2983 days ago

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Beginning of the headline :Want to buy gold? If you don't hold it, you might get to make a profit...! YOU typically buy gold because you want to defend your savings, writes Adrian Ash at BullionVault. Yet many people insist on giving away 10% of their money – or more – every time they buy and sell gold coins or small bars. February 2016, for instance, has seen gold's best monthly rise since November 2008 in terms of the British Pound, rising over 14% as Sterling has sunk amid the growing Brexit crisis. That's ... Read More

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