As Everyone Buys Gold...Buy Silver?

mini_lidi · 17 February 2009 at 11:22PM

As Everyone is busy buying gold is it worth while investing Silver?

Decadent_Fool · 17 February 2009 at 11:24PM

Do you want to make money, or just try and keep what financial worth you've got?

My opinion - there's better deals out there, but I want to make some serious cash and with that comes an appropriate risk.

mini_lidi · 17 February 2009 at 11:26PM

I want to make some money becuase im still young im only 17! i dont mind loosing some as i will just have to work more

JoeCrystal · 17 February 2009 at 11:27PM

*winces* Despite there are many risks to many ways of investing, I would say that investing in gold or silver to be risky since I believe it is a waste of money to fix into. At least with Saving Accounts/ISAs/Bonds/Shares, you can get your money back quickly if you need to (Of course, in case of Shares, less than usual if they went back).

I have to admit that age of seventeen is too young to invest into that kind of stuffs, just stick with usual ways of savings.

Decadent_Fool · 17 February 2009 at 11:49PM

mini_lidi wrote: »

I want to make some money becuase im still young im only 17! i dont mind loosing some as i will just have to work more

If I were you, for what my opinion is worth, I'd use the current market to lay some sound foundations for the future. I believe that there's some undervalued stock out there which has the potential to increase dramatically in the recovery. You could then sell this investment in the future to give yourself a bit more money to play with, but yes, it'll take patience

Why not do some research on funds that will buy in an area you think will do well, and make sure you invest in them in the most tax efficient manner possible, probably an ISA.

Perhaps spend 6 months running a virtual portfolio to see how you get on?

I hope I haven't come across as patronising, I really haven't meant to - and I think if you can focus your hunger for gains, you'll have fun in the future :beer:

mini_lidi · 17 February 2009 at 11:56PM

so where to start? Help!

Decadent_Fool · 17 February 2009 at 11:59PM

http://www.virtualtrader.co.uk/

http://www.virtualtrader.co.uk/content/default.asp?id=basics

Apologies mods if I shouldn't have posted these

mini_lidi · 18 February 2009 at 12:05AM

thanks

nrsql · 18 February 2009 at 2:10AM

JoeCrystal wrote: »

*winces* Despite there are many risks to many ways of investing, I would say that investing in gold or silver to be risky since I believe it is a waste of money to fix into. At least with Saving Accounts/ISAs/Bonds/Shares, you can get your money back quickly if you need to (Of course, in case of Shares, less than usual if they went back).

I have to admit that age of seventeen is too young to invest into that kind of stuffs, just stick with usual ways of savings.

One of the reasons for buying gold/silver would that you were worried you might not be able to get your money back quickly fromm Saving Accounts/ISAs/Bonds/Shares,
Not saying anyone should be worried (or not).

Diego · 5 March 2009 at 3:26PM

Gold, imho, is worth doing if you have some spare cash. In local shops and shopping arcades there are often second hand gold items for sale, competitively priced. Check out goldprice.org. I have no vested interest and there are loads of helpful info if you browse! Buy below scrap price! Sell it on.

tradetime · 5 March 2009 at 3:53PM

nrsql wrote: »

One of the reasons for buying gold/silver would that you were worried you might not be able to get your money back quickly fromm Saving Accounts/ISAs/Bonds/Shares,
Not saying anyone should be worried (or not).

You've been listening to Robert Prechter

As Everyone Buys Gold...Buy Silver?

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