Electronic Gold

Many of you will be vaguely aware that I am playing online in some pretty high risk ventures (which is why I am not playing with much… some risk thousands… UGH). For most of these, an e-gold account is needed to fund the venture (and for most, you only need about $10 to get started).

But this post isn’t about those risky ventures. Its about the value of gold itself. I have a Konfabulator widget (now Yahoo widget since Yahoo bought them out) sitting on my desktop which tells me the price of gold: it checks about every 30 minutes. As I write, its $683.89 US dollars an ounce. I wish I had thousands in my egold account because with the way gold is rising (about $90 in 3 weeks) you could make profits just by buying it thru egold.

A word about gold purchase online: you need to do it through an exchanger. The best one for Australians is e-forexgold. I am not much aware of others, because I use e-forexgold: I can use BPay or a deposit card at the post office to fund the account and that suits me well.

Its worth considering: When I signed up for egold and put money in the first time, the price was $US544… now its $US683. Nice profits if you can get them, in just four months.

CAUTION: The price can fall just as quickly. YMMV.

Update 10/5/06: The price of gold topped $700/ounce today. How far is this going to go? And how much is it tied to the oil prices? One wonders about artificial inflation.

Update 11/5/06: Added kitco charts. The first is a 24 hour chart, the second an 8 hour chart (US Dollars). You can see how the price fluctuates over the day, but the overall direction is UP

Update 15/5/06> Gold just took a dive from $716 to $687. Glad I only had $2.74 in egold. Now its worth only $2.45. Thats life. Glad I had not been paid yet, by any of my programs.

I’m not looking anymore, its too nerveracking.


2 thoughts on “Electronic Gold

  1. Voipscout 03/06/2006 / 6:19 am

    Hello, sir,

    Would you kindly confirm that e-forexgold.com is still in operation or at least can you verify positevily the last time you used them ?
    I would be extremely gratefull for your input, i have recently placed an order with them for 10k usd and have not heard from them in 3 days, not an acknowledgement of my email, practically nothing, i’m concerned that they are a scam….
    Any of your thoughts on the matter would be very much appreciated, thank you for your time, sir.


  2. kyte 03/06/2006 / 6:56 am

    I last used e-forexgold in February, but I have a friend who used them about 2 weeks ago.

    They are not a scam (at least I hope they aren’t, I’m planning on buying their debit card), but they are slow. My last transfer took about 7 business days, and required an additional email.

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