# Buying gold



## 335dAND110XS (Dec 17, 2010)

Anyone got money in gold?

I'm convinced our currency is going down the toilet (China has recently downgraded our credit rating - now the same as Belgium!!) and interest rates are pathetic.

Found a good company that seems pretty solid to buy physical gold in Zurich. Thinking maybe £20k as a starter just to see how it works out. 

Any hints/tips?!


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## empsburna (Apr 5, 2006)

It is a good, solid, long term inflation hedge but it is not somehwere that I would put my money.

If you fancy a dabble in a quick return have a look at diamonds instead.


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## McClane (Dec 9, 2010)

Erm, my take on this (I'm not a whizz by any means). Gold has gone up x 5 in the last three to four years. Some people got very rich by doing this at the right time. I rememember reading about that bloke who sold his 250k house and returned about 1.25 mil- getting in JUST at the right time.

Likewise, I rued my supposely clever swiss pension not investing, as the gold portion went up by 5.6 times, and all my units were put elsewhere to lose. :wall:

BUT - I think as confidence creeps back over the mid term, prices will fall again. Therefore, it would be a very expensive time to buy, with most of the potential downwards.

I could be wrong. But my view.


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## Steve Burnett (Apr 21, 2009)

Gold value very recently dropped, although it is picking up again. The drop was approx $150 per ounce ($1900 to $1750). A £20k investment would be hit hard with that drop.
Oil Futures? Oil dropped recently due to Lybia increasing output, so the price has lowered and winter is coming so prices should go up.

Scrub the above thought
"Oil prices fall on continuing global economy concerns" BBC News


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## empsburna (Apr 5, 2006)

I agree. With the price ready to go above $1,900/troy ounce again I don't think it can sustain the same level of growth.


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## 335dAND110XS (Dec 17, 2010)

Interesting comments chaps.

Just sick of getting F all interest on our hard earned savings - they are effectively ebbing away.

We're a bit weird though and still rent - we plan to buy a house outright soon so we don't have to pay interest to hateful banks! But fear not - our rent works out very cheap as we claim some back with the business (home office).

Anyway, just thoughts. Corporate bonds also appeal. Just need some cash offshore I reckon before our currency is worth naff all. Been checking various things out and our UK economy is looking like the 1970s - signs are all very similar.


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## bigmc (Mar 22, 2010)

Cash off shore is a good idea, I get 10% interest on mine. Unsure of gold so couldn't offer any advice.


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## davies20 (Feb 22, 2009)

bigmc said:


> Cash off shore is a good idea, I get 10% interest on mine. Unsure of gold so couldn't offer any advice.


Hasnt the government just been grated access to start taxing these accounts??

Swear i saw something in the news - i may be wrong though.


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## empsburna (Apr 5, 2006)

bigmc said:


> Cash off shore is a good idea, I get 10% interest on mine. Unsure of gold so couldn't offer any advice.


Which fund is that?


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## 335dAND110XS (Dec 17, 2010)

BigMc - would be interested to learn more about that!


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## bigmc (Mar 22, 2010)

Midlands Detailing said:


> Which fund is that?





335dAND110XS said:


> BigMc - would be interested to learn more about that!


I'll get the details from my accountant and post back.


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## robertdon777 (Nov 3, 2005)

335dAND110XS said:


> Interesting comments chaps.
> 
> Just sick of getting F all interest on our hard earned savings - they are effectively ebbing away.
> 
> ...


TBH you are probably better off renting at the moment, well any time over the last 6 years and ongoing for the next 5 or so I reckon.

As long as you invest the money that you are saving by renting. I know someone who bought gold about 4 years ago and I think this was the right time to buy.

Talk to a couple of Indi FA's to see what they come up with as slightly safer bets (if there is such a thing)


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## davies20 (Feb 22, 2009)

davies20 said:


> Hasnt the government just been grated access to start taxing these accounts??
> 
> Swear i saw something in the news - i may be wrong though.


With regards to this post I made earlier - this is what i was on about!

http://www.bbc.co.uk/news/business-14649194

Dont know if its the same thing your on about BigMC - sorry if i'm way off target!


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## ferted (May 7, 2011)

davies20 said:


> With regards to this post I made earlier - this is what i was on about!
> 
> http://www.bbc.co.uk/news/business-14649194
> 
> Dont know if its the same thing your on about BigMC - sorry if i'm way off target!


OMG:doublesho
That's my plans to stash my Lotto millions in a swiss account scuppered!!


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## empsburna (Apr 5, 2006)

From todays Financial Times....



> Gold hits record on eurozone debt fears





> Tuesday 08.30 BST. Gold has surged to a new high and yields of highly-rated government debt are tickling record lows as investors remain wary of "risk" assets on growing fears about the eurozone fiscal crisis.





> The precious metal has hit a new peak of $1,920 an ounce and is currently up 0.5 per cent to $1,910 an ounce.


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## McClane (Dec 9, 2010)

A good time for selling gold I'd say!


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## empsburna (Apr 5, 2006)

McClane said:


> A good time for selling gold I'd say!


I think the bubble will burst very soon.

Just have to wait and see what happens in Greece now.


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## R9SH G (Mar 14, 2011)

just a little whisper ive heard too that gold will probably rocket another 3 fold by december as markets continue to crash..


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## Bero (Mar 9, 2008)

R9SH G said:


> just a little whisper ive heard too that gold will probably rocket another 3 fold by december as markets continue to crash..


If gold goes to 4,800+ per Oz by Dec i'll buy you a Kg! :lol:


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## 335dAND110XS (Dec 17, 2010)

Well it's currently taking a battering...

Think we might stick to dull but safe savings/ISAs/etc!


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## kh904 (Dec 18, 2006)

I've heard tht the gold prices will tumble but i think some of that is market manipulation, as the debt crisis should mean that gold is a safer bet at the moment against inflation. IMO don't really trust what the 'official' figures are for inflation, i think it's much higher.


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## Obsessed Merc (Apr 10, 2011)

Bullion vault is a pretty easy place to trade gold/silver.

I set up an account pretty quickly and without too much fuss.

You buy actual metal and it's stored in a secure vault(s).

I've been buying gold every time it drops. Even recently today. Lots and lots of info on gold, some positive, some negative.

I think the euro / dollar are shaky and the stock Market is up n down like a tom's drawers, which is why I've opted for gold/silver. I've put my peps/isa's into a defensive position, but kept them.

Crystal ball anybody ?


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## Desertduck (Sep 30, 2008)

+1 for Bullion Vault :thumb: . 

Easy to use. Buy low sell high lol Oh and my advice would be buy gold in the Zurich vault. That way if our economy does crash the goverment can reclaim all privately owned gold to prop up the country. Gold in a Zurich vault can't be touched by them. (at the mo )


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## Goldbug (Sep 23, 2011)

I would say don't look at the charts - look at what is happening in the world. How confident about things do you feel?

I havVe bought most of my gold,6 years ago, but will continue to buy in smaller and smaller amounts.

It's not the price of gold I am worried about - it's more how devalued my paper money savings are becoming. Governments are going to continue to devalue, especially Europe, UK and US.


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## 335dAND110XS (Dec 17, 2010)

I nearly hit the button on a fair whack of physical Zurich Gold via BV but bottled out!


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## empsburna (Apr 5, 2006)

335dAND110XS said:


> I nearly hit the button on a fair whack of physical Zurich Gold via BV but bottled out!


Today or Yesterday? I think the US launching Operation Twist has helped drive the price down again as everyone is concerned about the dollar being debased and inflation skyrocketing.


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## kh904 (Dec 18, 2006)

Desertduck said:


> +1 for Bullion Vault :thumb: .
> 
> Easy to use. Buy low sell high lol Oh and my advice would be buy gold in the Zurich vault. That way if our economy does crash the goverment can reclaim all privately owned gold to prop up the country. Gold in a Zurich vault can't be touched by them. (at the mo )


Interesting about the Government claiming all private gold!
I know that they did that in the USA a few decades ago! What would happen to the private owners of gold? Do they get compensated in some way?


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## Bero (Mar 9, 2008)

kh904 said:


> Interesting about the Government claiming all private gold!
> I know that they did that in the USA a few decades ago! What would happen to the private owners of gold? Do they get compensated in some way?


Yeah - about 80 years ago, the USA did pay a fixed price per Oz. I think the chance of this happening now is infinitesimally small.


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## JJ_ (Oct 26, 2005)

Look at gold mining companies they are low value compared to the value of Gold the "gold" money will start to transfer to these shares. 

Or look outside the box, find what the drills are made from and by whom - invest. 

Gold is at an overvalued price just now and will not continue to grow at the SAME rate. If you leave it 30/40 years you will be fine, short term opt out. 

I don't do short term right enough its far too risky FOR ME you would have more chance jumping into a tank of piranhas.

I have it on good merit that you should address food and water for the long term.

Also I would buy physical gold. A company selling gold can go to the wall so to speak. I would only have gold/silver/platinum I can touch. Buy at auction highest quality gold and make sure it is not plated! Silver can be bought in aesthetically pleasing plates, silverware etc.


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## kh904 (Dec 18, 2006)

JJ_ said:


> Look at gold mining companies they are low value compared to the value of Gold the "gold" money will start to transfer to these shares.
> 
> Or look outside the box, find what the drills are made from and by whom - invest.
> 
> ...


Pretty much agree with everything, except for gold being overvalued. I don't believe it is imo, as it's usually a good hedge against inflation, and the US & probably the UK (along with other countries) will probably start another round of quantitative easing which will hurt my savings 

Your right about buying physical gold (in your possession), do these gold trading companies actually have the gold 100%? Who knows for sure!

I also agree with the food & water investments!
The cost of food will shoot up imo in the near future


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## JJ_ (Oct 26, 2005)

The thing is, the gold you are buying right now, the majority is not made (poured into pretty little bars or coins). The evidence is from the mines, the mine companies are at a much lower value but once they start to churn out the actual gold which people think they have bought then the mining prices will rise. A mining company will not rise in price if it's inactive or not making money.

Another bit of thought must go to the eastern countries where there are still un-discovered mines, PLUS we are still at a balancing point between discovering new mining techniques or just continuing with what we do. A company is on edge just now for new mining techniques, so stay tuned.

So say a mine is discovered next year which is 10% of the whole gold content in Europe, say its 20% who knows, thats why I feel Gold is long term.


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## JJ_ (Oct 26, 2005)

kh904 said:


> I also agree with the food & water investments!
> The cost of food will shoot up imo in the near future


How much was a pint of Milk in 1980 ? How much is it now, if you had invested in a wisemans etc etc then you could have made a lot of "good" money.

No war, no deaths etc

Also what is the morale ground on investing into food, oil, gold etc. We can't discuss investement without addressing the reality of "ring" around our investment product.

What I am doing is adapting to my surroundings. I would like to leave my money in a bank and let it grow at a good rate but I just don't get a good rate. My surroundings are pushing me to markets I don't want to support or invest but this is my choice if I want a nice retirement. :argie:


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