I accessed my new Bullion Vault account Monday evening and made a bid for five grams of gold. Imagine my surprise when the bid was accepted and I now own five grams of gold stored in a Zurich vault. I'm was not surprised about the bid acceptance but rather the whole concept of someone with my resources buying gold and having it stored in Switzerland. Delusions of grandeur comes to mind. The five grams cost $244.46 including commission so we're not exactly shaking up the metals trading kingpins.
There were some bumps in the road getting to this point and we've got at least one more registration hurdle still outstanding. It took over a month and two emails to get the account funded. No explanation for the delays was provided. Bullion Vault's website was not that easy for me to use. In the States we're accustomed to pricing gold in ounces not kilograms. The site implies the minimum order is .01 kilograms, but that's not the case. The "Order Board" and "Market Depth" windows don't help me understand how my micro five gram bid got filled. In fairness, I need to spend more time learning about the Bullion Vault process before being overly critical. Alan's Money Blog has a more comprehensive and positive review.
The only other news to report is we purchased the Indonesian ETF (IDX) yesterday @ $31.12 a share. Happily, we're off to a good start as IDX was up about 1.5% today.
No comments:
Post a Comment