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Thane Tasker

Gold Reaches £1000

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Incredible, £1000 an Oz across the board, first time ever...

1000f.png

Correct at 16:05, July 18 2011.

I remember people saying that it would never cross $1000, haha. My house price crash is about 65% now

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I remember people saying that it would never cross $1000, haha. My house price crash is about 65% now

6124_nota_gold_bullmarket.jpg

It'll cross through $10,000 if they carry on with the current screwball printing policies.

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Paper trail.

As said Weighton, Bullion by post, Hatton etc all have very good prices. But once you go over the £5K limit HMRC sits up and takes an interest and puts you on their database.

Some other coin dealers which shall remain un-named will tend to turn a blind eye and record them as smaller cash sales as they are only really interested in the turn over.

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Not true Ken. If you spend £10K in any 12 month period or £5K in a single transaction the dealer is obliged to record your photo ID and two proofs of address. The records are not passed on to the HMRC, they're filed at the dealers and remain there.

Yup. And as mentioned above, some ignore this, particularly if you make several transactions that do eventually cross the £10k threshold.

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People get in the custom of buying everything off ebay and not looking at the wider internet.

My opinion of ebay is that it is a Jack of all trades, master of none.

Edited by Take Me Back To London!

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Erm I would like to make it abundantly clear that I have NOT made more than 5K or even 10K of gold this year.... :angry:

So please don't kick my door down the old granny land lady who was surprisingly OK with me leaving with barely any notice will not be very happy.

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But once you go over the £5K limit HMRC sits up and takes an interest and puts you on their database.

Not true Ken. If you spend £10K in any 12 month period or £5K in a single transaction the dealer is obliged to record your photo ID and two proofs of address. The records are not passed on to the HMRC, they're filed at the dealers and remain there.

Legal misconception by the dealers involved (unless the 2007 Money Laundering Regulations apply).

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anyone got any idea as to why gold's just plunged about $20 :unsure:

It was due a correction, something like 8 or 10 days up in a row. Why are you concerned about a 1.25% retrace after an all-time high?

To the OP: I've just remembered, RB bought a house. If he is reading this, I wish him the very best in life - enjoy it and stop spending so much time posting shite on the Internet.

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Not true Ken. If you spend £10K in any 12 month period or £5K in a single transaction the dealer is obliged to record your photo ID and two proofs of address. The records are not passed on to the HMRC, they're filed at the dealers and remain there.

I stand to be corrected but my understanding was that buying more than £5k in one go or £10k a year was not just recorded as you say by the dealer but automatically reportable....like withdrawing over £10k in cash.

Have you any links or details?

Either way, people dont buy on feebay and pay via paypoo to escape leaving a trail....there couldnt be an easier one to track for the authorities. I can go back through my paypoo account to the day that I opened it.

People buy from feebay when the price is better than a dealer or because they dont know better imo.

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I stand to be corrected but my understanding was that buying more than £5k in one go or £10k a year was not just recorded as you say by the dealer but automatically reportable....like withdrawing over £10k in cash.

Have you any links or details?

http://customs.hmrc.gov.uk/channelsPortalWebApp/channelsPortalWebApp.portal?_nfpb=true&_pageLabel=pageVAT_ShowContent&id=HMCE_CL_000104&propertyType=document

Scroll down to section 3.

The cash question is a seperate issue and relates to the Money Laundering Regulations (2007).

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http://customs.hmrc.gov.uk/channelsPortalWebApp/channelsPortalWebApp.portal?_nfpb=true&_pageLabel=pageVAT_ShowContent&id=HMCE_CL_000104&propertyType=document

Scroll down to section 3.

The cash question is a seperate issue and relates to the Money Laundering Regulations (2007).

The Govt. want to know too much. If they spent more time running a respectable establishment instead of conning and spying on people then people wouldn't be so eager to escape their clutches.

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I stand to be corrected but my understanding was that buying more than £5k in one go or £10k a year was not just recorded as you say by the dealer but automatically reportable....like withdrawing over £10k in cash.

Have you any links or details?

There's a lot of paranoia over this. It is the seller who has to notify HMRC when he starts trading. They don't have to report every transaction in detail merely that they are trading in gold. If you look at the last note at the end of the suggested form of notification it says "you do not have to notify us of subsequent supplies".

Naturally the dealer will keep records for their own business purposes so a trail may exist. Like lots of legislation enacted in recent years it is relatively easy to circumvent if you need to hide your activities.

The Money Laundering Regulations are the classic example. I have read that forged or stolen/lost passports can be obtained with ease; that's the photo ID taken care of. Not so easy is the utility bill. It is well known that British Gas will not supply those engaged in drug trafficking, terrorism and other criminal activities.

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Incredible, £1000 an Oz across the board, first time ever...........

Bullion Vault, is as poor a barometer of gold price as is EBay.

Gold pipped £1K per troy for a few seconds on the spot market, that's all.

CID had a couple of 1oz coins at £1K + on buy back, that's all.

The LBMA Fix has yet to take out £1K .

Patience peeps, patience.

That's all.

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And the post-debt ceiling agreement 'correction' (buying opportunity) some of us were hoping for?

Tib

It dropped half a percent this morning before lunch, you missed it.

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And the post-debt ceiling agreement 'correction' (buying opportunity) some of us were hoping for?

I'm with you Brother, was hoping for £900 not so long ago but it never came, £1000 is the new £900 from the looks of it :angry:

This morning I expected stocks up and Gold down, so far stocks are down and Gold is steady. The US debt ceiling deal doesn't look to be convincing anyone, nor should it, the cuts are so weak that the US triple A rating is still looking to be heading for the rocks.

The Americans should have followed the British - pretend to cut big, so far this has worked for us and let us cling onto our triple A rating. It's all about how far the can can be kicked down the road now, the road ultimately ends at the cliff edge though...

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I think the new global slowdown is what's over powering America debt agreement optimism. Obviously with a potential downgrade in the background too.

Up above £1000 buying opportunity long gone.

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  • 284 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
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      • Even
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