Gold, Dow Jones or Colombian stock market?

untreated says on Apr 5, 2006, 18:35:

Buy a gram of 18 kt gold at a pawnshop for only 35,000 pesos (15 bucks). If you buy a little gold every payday it will add up nicely over the years.

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Boatygringo says on Apr 6, 2006, 06:59:

Gold If you want to own gold or silver but dont want the problem of were to keep it look into the E company Goldmoney.com. They store it for you in an insured vault in London it's insured by Lloyds of London and can be converted back to CASH 24-7 over the internet. Right now both metals are appriciating fast so they are a great investment.

Boatygringo

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untreated says on Apr 6, 2006, 08:18:

34,000 pesos/gram 18kt is the calculation I make after a visit to GoldMoney.com. I myself prefer to have the gold in my possession, in the form of 18kt jewellry. I nominate Boatygringo's post for most valuable one so far in 2006.

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poco says on Apr 6, 2006, 12:01:

No. 1 or No. 2 Gold jewelry is a popular investment in Colombia and along with property is a good way to protect your Pesos in a country with a History of enormous currency inflation. Even in a rural area there are many small Pawn Shops buying and selling gold jewelry.

Jewelry can be a good purchase in Colombia if you know what you are doing. Colombians are good at keeping up with the price of gold but the labor rate to produce jewelry is very low.

I believe the minted gold coins are the best way to hold relatively small amounts of Gold and a safe deposit box is inexpensive.

Depending on the coin, there will be a “purchase premium” but that premium will move in relation to the price of the coin.

Looks like eBay has some good action,, humm,, maybe a double in 3 or 4 years? 1/20 of an oz. Panda gold coin, $35 plus 7 dollars shipping and 20 bids, 840 USD an oz. Probably the same shipping cost as one oz. People will buy anything.
Updated:
Final price = $38.55 or $911 per ounce,, wow, maybe they went with the super fast USPS for $15.00 or $1071 per ounce,, buying one at a time. Better yet,, insurance is INCLUDED,, of course $100.00 is, I think,, included with the $3.75 it REALLY cost them. PLUS, NO PAYPAL charges, cashiers check, money order only. I'm been in the wrong business.

Other larger vehicles such as gold stocks and I’d assume holding with a broker will be accompanied with “paper work” and a resulting Tax burden if sold.

Jewelry along with coins can be purchased and sold in smaller quantities w/o the paper work. Jewelry is more difficult to sell but can result in larger gains, if that is what you’re after :

"When you men get home and face an anti-war protester, look him in the eyes and shake his hand. Then, wink at his girlfriend, because she knows she's dating a pussy." Quote - General Tommy Franks

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johna says on Apr 6, 2006, 13:31:

CIB (AMEX ticker) What is the deal with this stock, it is col. nacional bank stock and has been gaining like crazy. Why? not that I am complaining.

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poco says on Apr 6, 2006, 14:45:

Just a guess What is the deal with this stock, it is col. nacional bank stock and has been gaining like crazy. Why? not that I am complaining.

Do you mean the 1,700 percent plus increase in price over the last four years? Perhaps the 120% increase in price since it was spotlighted and “pumped” in July 2005 by Jim Cramer on U.S. national TV,, as so aptly brought to our attention on this board.

I think it is because they are making money and can support the price due to the surprising coincidence of going up in conjunction with the current administrations successful policies. But what do I know, maybe the Colombian economy can turn brown and runny and they'll go up another 100%

PS: Edit you post CIB (AMEX ticker) CIB is on the NYSE and we don't want anyone getting confused.

"When you men get home and face an anti-war protester, look him in the eyes and shake his hand. Then, wink at his girlfriend, because she knows she's dating a pussy." Quote - General Tommy Franks

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utopiacowboy says on Apr 7, 2006, 08:53:

You're right, GIB. I also noticed a story a few days ago about a German who had recently been freed by the FARC after 5 years in captivity and several ransom payments. He started out a backpacker and then stayed in Colombia as a business man. The article said that there are 25 other foreigners currently being held captive.

Disclaimer: any comment I make is inane and is not to be taken seriously, and is so patently ridiculous that no one should take it seriously, even as an insult.

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johna says on Apr 7, 2006, 08:54:

poco wrote PS: Edit you post CIB (AMEX ticker) CIB is on the NYSE and we don't want anyone getting confused.

I think you meant "edit your post". We wouldn't want anyone getting confused, would we. I

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untreated says on Apr 7, 2006, 13:42:

"Portafolio" says that the sudden fall in peso is due to pre-Easter dollar buying, same as the dollar rise just before Easter last year.

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jmbone says on Apr 13, 2006, 17:00:

18Kt gold-pawn shops are buying at 25,000 pesos a gram. They quote a sell price of 35,000 Pesos. I
got these same prices from a half dozen pawn shops located in
Medellin's Centro...BUT, none of them are selling! Buying yes, but not selling...cause in this rising market hoarding makes more sense, and I can't blame them. The buy sell spread of 10,000 Pesos was also the same with all six shops.

QUESTION: Is the control of buy/sell and the spread, a function of the Colombia govt. or colusion among the pawn shop dealers? And, is there anyway around this??

regards,
Jim

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farinc says on Apr 18, 2006, 14:07:

Stockbroker in Bogota Needed Can anyone recommend a reputable stock broker that I can go to in Bogota to exchange my Bavaria stock for the Miller stock? Please send your reply to: mmgibbons at farinc.com

Thanks much.

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untreated says on May 11, 2006, 18:25:

I sold off my ISA stock last week at 5900, with the profits I bought 4 hectares in Cesar state and an ounce of 18 kt gold jewellry at 38.000/gm.

Hot stock tip: GSL on TSX. Check it out, maybe buy a little piece of a gold mine near Bucaramanga.

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Tinto (Moderator) (Trustee board) says on May 12, 2006, 13:05:

The IGBC is still up 10% since the beginning of the year but rising global interest rates are taking their toll (Bancolombia is 20% off its high).



Note: The chart is the IGBC index from a Corfinsura/Bancolombia website. It is NOT a price chart for Bancolombia.

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untreated says on May 12, 2006, 13:30:

Mineros de Antioquia? I decided NOT to buy the finca, maybe I'll buy some Mineros stock, any ideas? Any comment on GSL (TSX)? or MGMX (OTC)? The latter is a penny stick with holding in Colombia.

Locally 18 kt gold rose to 40.000 COP/gm today.

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untreated says on May 14, 2006, 11:09:

18 kt Italian gold jewelry at 41.000 Saturday's price, I bought a necklace and a bracelet, 28 grams in all.

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utopiacowboy says on May 22, 2006, 08:41:

Rising US interest rates is a tide that is sinking a lot of ships. I think they are going to have to go a LOT higher and succeed in triggering a recession before they're through. Let's see what that does to high commodity prices!

Disclaimer: any comment I make is inane and is not to be taken seriously, and is so patently ridiculous that no one should take it seriously, even as an insult.

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