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Bullion.Forum
could i profited from buying gold jewellery at 2.5% below t
- Thread starter Danielle
- Start date
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jimdoc
Well-known member
Danielle said:
Spot has been changing by large jumps both up and down lately, so you could lose just as easily as you could profit in a very short time. I guess you could call it gambling.
Jim
patnor1011
Well-known member
2.5 is way too low mainly if you have no experience in doing that.
MiguelRosas
Well-known member
I think it's important for you to take a step back and think, 2.5% of WHAT? (a daily / weekly average....)
Spot price is constantly changing, and although your overhead may remain relatively steady, you are trying to base your profit on a fluctuating number. Is this 2.5% profit including a refining fee, so that you can actually cash in your gold? If not, I would recommend buying it at 10% below spot (or more). This will give you room on poor assay's, fluctuation, and refining costs, yet still give you an edge over competition.
Spot price is constantly changing, and although your overhead may remain relatively steady, you are trying to base your profit on a fluctuating number. Is this 2.5% profit including a refining fee, so that you can actually cash in your gold? If not, I would recommend buying it at 10% below spot (or more). This will give you room on poor assay's, fluctuation, and refining costs, yet still give you an edge over competition.
