I'm interested in purchasing gold bars coins here in Dominican republic. preferably In Santo Domingo, does anybody know where i can buy this? Thanks
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- Thread starter joelickshot
- Start date
Buy gold bars
You can Google "gold prices" and several sites will come up. Seeing that the stock market has risen to a "don't buy" IMHO; I was looking at gold. Usually, stocks high = gold down. Not this time. I was looking to buy rather large amounts under U.S. $1,200 per ounce. Gold has stayed over that for the last few month. Study the charts available.
Gold prices are set and change constantly reflecting current global market prices. Reputable gold dealers in the D.R. will have the current market price plus the commission and those can be deal breakers also. Another question is are you buying coin or bars. Some rare coins/bars can increase in value faster then the regular going gold rate for collectors. But if you don't know what you are doing, don't do it. Another question would be if the dealer has the gold that you want "in stock". If not, don't leave your money to come back later to .... not collect it and be put in a bad situation. Fake gold coins and bars are also a big problem.
Selling can be a problem also. Part of this depends on how long you intend to hold it. If you are thinking of a quick profit, most likely you will end up with a big ouch. Remember commissions change and those react to supply and demand. I was looking at buying, putting in an American safe deposit box and handing the key to my daughter. Very long term.
I would advise NOT shipping gold into the D.R. unless it is fully insured. Check out the company selling and ALL of their info and history.
I see that interest rates at the Dominican banks has gone up. I might look into some short and long terms... but not large amounts.
Good luck and be careful.
Gold prices are set and change constantly reflecting current global market prices. Reputable gold dealers in the D.R. will have the current market price plus the commission and those can be deal breakers also. Another question is are you buying coin or bars. Some rare coins/bars can increase in value faster then the regular going gold rate for collectors. But if you don't know what you are doing, don't do it. Another question would be if the dealer has the gold that you want "in stock". If not, don't leave your money to come back later to .... not collect it and be put in a bad situation. Fake gold coins and bars are also a big problem.
Selling can be a problem also. Part of this depends on how long you intend to hold it. If you are thinking of a quick profit, most likely you will end up with a big ouch. Remember commissions change and those react to supply and demand. I was looking at buying, putting in an American safe deposit box and handing the key to my daughter. Very long term.
I would advise NOT shipping gold into the D.R. unless it is fully insured. Check out the company selling and ALL of their info and history.
I see that interest rates at the Dominican banks has gone up. I might look into some short and long terms... but not large amounts.
Good luck and be careful.
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In todays DR1 news.
Interest rates up
The Central Bank has increased the interest rate by 25 basis points from 5.5% annual to 5.75% effective from 3 April 2017.
The same adjustment has been made to interest paid on short-term deposits that has increased from 4% to 4.25% annual and the repos rate has also increased from 7% to 7.25% annual.
The decision was taken at the March meeting of the monetary policy committee, following a detailed analysis of the balance of risks, inflation, macroeconomic indicators, market expectations and the international environment as it relates to the local economy.
The press release said that the Central Bank reaffirms its commitment to achieve inflationary targets and maintain macroeconomic stability as well as stabilizing prices.
http://www.bancentral.gov.do/notas_p...ia-a-575-anual
Interest rates up
The Central Bank has increased the interest rate by 25 basis points from 5.5% annual to 5.75% effective from 3 April 2017.
The same adjustment has been made to interest paid on short-term deposits that has increased from 4% to 4.25% annual and the repos rate has also increased from 7% to 7.25% annual.
The decision was taken at the March meeting of the monetary policy committee, following a detailed analysis of the balance of risks, inflation, macroeconomic indicators, market expectations and the international environment as it relates to the local economy.
The press release said that the Central Bank reaffirms its commitment to achieve inflationary targets and maintain macroeconomic stability as well as stabilizing prices.
http://www.bancentral.gov.do/notas_p...ia-a-575-anual
Thanks for all the help, wish I had asked before. Oh well, better late than never
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I really want to buy gold bars, but because I'm a newbie I may start with coins. I don't intend to sell them for at least the next 3-5 years, which will probably be another problem, suppose I'll cross that bridge when I get to it. I have been watching the prices for a while now and the just seem to be going up and not down.
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Then papertrade the spot market for $hitsandgiggles.
https://www.fxcm.com/markets/commodities/why-trade-commodities/
Owning precious metals like owning real estate, equities etc. is part of a sound long term investment strategy. Let me know when you're on the north coast we can expound over some cocktails. Good luck.
Sounds good to me, I'm I've overdue a visit now. Perhaps before the summer I'll come down.
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Sounds more to me like payback time for some long term government bonds is looming....let's raise interest so people keep keep their money in renewed bonds, instead of having to pay the money back.
There is an on-line website that give info on buying DR issued gold coins, Chard.com
The situation has changed since the original post.
There is shortage of bullion in some locations. This is due to the fact, that bullion prices have traditionally been determined on the exchanges (London and NY) which mostly trade with certificates. Now, if you have a choice to buy metal or paper at the same price.. .what would you do?
Correct me if I am wrong but there is no shop with gold bars in Santo Domingo
There is shortage of bullion in some locations. This is due to the fact, that bullion prices have traditionally been determined on the exchanges (London and NY) which mostly trade with certificates. Now, if you have a choice to buy metal or paper at the same price.. .what would you do?
Correct me if I am wrong but there is no shop with gold bars in Santo Domingo
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