Buying gold?

[Aldebaran]

I know that there are many on the site better off than me, but I have some savings, and I'm thinking of buying some gold sovereigns in the hope that the price of gold goes up. It seems to be a pretty safe investment, but does anyone have any ideas on it, for or against?

[Squire Haggard]

I've done no research on it, but the price is at a high when you look at the 3, 5, or 10 year chart. This would put me off.

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[tintin100]

I've done no research on it, but the price is at a high when you look at the 3, 5, or 10 year chart. This would put me off.

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Well if you are so sure there is a down cycle, go and buy some put options.

[TheOtherChurchill]

I've done no research on it, but the price is at a high when you look at the 3, 5, or 10 year chart. This would put me off.

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outa pure curiosity: did you try doing what your avatar says?

[chrishornx]

I've done no research on it, but the price is at a high when you look at the 3, 5, or 10 year chart. This would put me off.

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but when you look at 40 years the only way is 'UP'

[chrishornx]

outa pure curiosity: did you try doing what your avatar says?

That is uncalled for he is entitled to hold a view

[Squire Haggard]

That is uncalled for he is entitled to hold a view

Exactly.

I've been asked before, some are polite about it, some very impolite. I'll answer this time by saying the reason has already been given, more than once

[Squire Haggard]

Well if you are so sure there is a down cycle, go and buy some put options.

I'm not so sure, so I wont.

Here's some technical analysis if you're interested.

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[Blackpool Rock]

Randomly found this assessment of the Pro's and Cons

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Gold is often looked upon as a "Safe Haven" in turbulent times but nothing is guaranteed about the value rising when other markets are doing badly etc, it doesn't make anything, it doesn't pay any dividend or interest however the price might (might) go up, or down 

Personally i'm hoping for a rebound in the price of Global Tech stocks in the next 12 months as the rate of inflation peaks then starts to drop back, the bad news should already be priced in 

[Malvolio]

I know that there are many on the site better off than me, but I have some savings, and I'm thinking of buying some gold sovereigns in the hope that the price of gold goes up. It seems to be a pretty safe investment, but does anyone have any ideas on it, for or against?

I don't like investing in things that don't give you any return until you sell them, but that's just me.  At least they will be small enough to stash somewhere in your home, as opposed to crates of wine that need to be kept at the correct temperature.  Before you take the plunge, make sure you investigate how to sell them on, and whether any costs are involved in doing that.

[maxQ]

I know that there are many on the site better off than me, but I have some savings, and I'm thinking of buying some gold sovereigns in the hope that the price of gold goes up. It seems to be a pretty safe investment, but does anyone have any ideas on it, for or against?

I buy at little Gold/Silver myself every now and then, I'm not really trying to make money. for me its just a little bit of money saved that might keep its value long term, for example about 10 years back I know some people who switched some of their cash into Kurgerrands because they thought there was a chance of Ireland leaving the Euro

[GreyDave]

   I work doing house and flat refurb and on a few jobs we have found sovriegns and most recently a  Krugerrand secreted away in places one was top of door another under a lose floorboard

the places were stripped clear before I went in and were empty... On down side of finding stuff in my job is a few times the past tennants Drug Dealer types have also left a stash which is chucked the next occupant has had trouble when they remember and try and return to collect it several times police have been called over this

If you buy them dont lose them or forget about them and theres always the chance they might get nicked  and if you do buy them its a bit like punting  DONT TALK ABOUT HAVEING THEM

 

[maxQ]

  I work doing house and flat refurb and on a few jobs we have found sovriegns and most recently a  Krugerrand secreted away in places one was top of door another under a lose floorboard

Oh now that is nice 

[PepeMAGA]

if you're looking to buy gold as an investment not an end of the world contingency I would buy through someone like Bullion vault. you are still buying physical gold but its held for you in a vault (you buy "part" of a gold bar or a full gold bar depending on how much you invest).
I would be wary atm as gold may drop in price as banks stabilise.

[chatbite]

Just chiming in on this as I have a little bit of knowledge in this area, please don't take this as financial advice though as you should always do your own research. Gold is a stable investment if you are prepared to hold longer term, zooming out on any gold chart will show you that over time it always goes up if you're patient during the occasional dip. With the premiums you pay on buying and selling you'll need to let it mature over time to ensure you don't make short term losses.

If I personally was spending on gold I'd look to diversify. Buying different bars of different sizes mean I'd be able to sell smaller amounts if I need to get a bit of cash out but still get the benefit of a reduced overall cost on the bigger pieces. That being said though my personal preference is sovereigns and britannias because they're legal tender and therefore capital gains tax exempt. Again the premium comes into play but with the CGT threshold coming down as per the latest budget it's a no brainier for even a modest investment.

Or you could blow the lot on hookers 

[sir wanksalot]

You probably already know this but you can also invest in gold via a gold index or via mining stocks

[GreyDave]

   Looked up an old school mate who I used to bump in to when he visted his old mum who still lives in town....

Died of Cancer 6 months younger than me  1 year ago......Im investing in Goldmines between WG`s legs 

[pbj46]

If you want exposure to the price of gold, why not buy an ETF instead of physical gold? With physical gold, the spreads are higher, there are delivery & storage costs, it takes time to buy and sell.  Gains are taxable.

You can trade in and out of an ETF instantly, within a stocks & shares ISA, meaning any profit is tax free.

e.g. SGLN
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[StingRay]

If you want exposure to the price of gold, why not buy an ETF instead of physical gold? With physical gold, the spreads are higher, there are delivery & storage costs, it takes time to buy and sell.  Gains are taxable.

You can trade in and out of an ETF instantly, within a stocks & shares ISA, meaning any profit is tax free.

e.g. SGLN
External Link/Members Only

Usually no delivery costs unless you buy actual numbered bars. The risks with just having a share of a plle of gold bars is that they belong to the bank and, in a worst case scenario, you could end just being a creditor of the bank if it goes tits up!   

[catweazle]

As an aside- but still sort of relevant- I saw an advert today for a commemorative coin for the Coronation.  It is 99.9% pure gold, ( the advert mentions that sovereign coins aren't that pure) and there are only 2,023 of them. It sells for a couple of pennies under £100.

Then I looked at the days gold price,  which was around £52/gram.  Going back to the advert, in small print it discloses  that this coin weighs in at 0.8 gram.   How tiny must this be?

[Munter84]

As an aside- but still sort of relevant- I saw an advert today for a commemorative coin for the Coronation.  It is 99.9% pure gold, ( the advert mentions that sovereign coins aren't that pure) and there are only 2,023 of them. It sells for a couple of pennies under £100.

Then I looked at the days gold price,  which was around £52/gram.  Going back to the advert, in small print it discloses  that this coin weighs in at 0.8 gram.   How tiny must this be?

Yep - some so-called bullion coins could be more accurately described as flakes. Seriously, you'd have to lift them on a single finger, and if you sneezed, bye bye!

The purity thing is true enough, Sovereigns are 22 carat gold (91.7%) for durability (they were once circulating coinage after all, albeit for the richest of the rich - and to this day remain legal tender, with a nominal value of one pound (!!!) despite being one of the few British coins with no declared face value).

I'm a (former) coin collector, if that wasn't obvious.

[WASA38]

  I work doing house and flat refurb and on a few jobs we have found sovriegns and most recently a  Krugerrand secreted away in places one was top of door another under a lose floorboard

the places were stripped clear before I went in and were empty... On down side of finding stuff in my job is a few times the past tennants Drug Dealer types have also left a stash which is chucked the next occupant has had trouble when they remember and try and return to collect it several times police have been called over this

If you buy them dont lose them or forget about them and theres always the chance they might get nicked  and if you do buy them its a bit like punting  DONT TALK ABOUT HAVEING THEM

 

-and if you're going to hide them away, be sure to inform your next of kin. If you were to shuffle off this mortal coil you don't want  GD, or some other refurbisher collecting your savings after the house is sold.

[Squire Haggard]

-and if you're going to hide them away, be sure to inform your next of kin. If you were to shuffle off this mortal coil you don't want  GD, or some other refurbisher collecting your savings after the house is sold.

Yup!  Someone's next of kin missed out.....

''Presumably a different ilk of ‘note’ to what the piano tuner had expected to find that day.

Amid the hammers and strings of a run-of-the-mill upright piano at a Shropshire college, a local piano tuner happened upon a rather large stash of treasure in a remarkable discovery a few years back.

More than 900 gold sovereigns were found inside a Broadwood, that had been donated to the school in 2016 by a couple who were downsizing their home and had no idea of what had been sitting under the roof.''

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[Boxotrix69]

Just chiming in on this as I have a little bit of knowledge in this area, please don't take this as financial advice though as you should always do your own research. Gold is a stable investment if you are prepared to hold longer term, zooming out on any gold chart will show you that over time it always goes up if you're patient during the occasional dip. With the premiums you pay on buying and selling you'll need to let it mature over time to ensure you don't make short term losses.

If I personally was spending on gold I'd look to diversify. Buying different bars of different sizes mean I'd be able to sell smaller amounts if I need to get a bit of cash out but still get the benefit of a reduced overall cost on the bigger pieces. That being said though my personal preference is sovereigns and britannias because they're legal tender and therefore capital gains tax exempt. Again the premium comes into play but with the CGT threshold coming down as per the latest budget it's a no brainier for even a modest investment.

Or you could blow the lot on hookers 

Why not both!

Done the same.  I buy gold and silver but purely long term.

I've got PEPEcoin to make me millions 😆