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The DON'T buy gold thread
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Stavros_3
Posts: 1,288 Forumite
Fed up with reading countless threads about buying gold. Without naming the Numpty on here who keeps punting buy, buy, buy gold. I thought I would post the opposite. My IFA of 30yrs, My fund manager who I have more faith in than a certain Numpty on here and his entourage who keep prostituting the yellow metal are going nowhere into investing in G**d. My portfolio which doesn't include G**d is comfortably up. So I suppose my message is to those of you who want to make a quick fast buck and become Klondike Pete, is to think long and hard b4 you enter this volitile investment. Its ok if you want a nice sov or Britannia to admire in its presentation box but be VERY careful before you part with a shed load of hard earned brass on this 'precious metal' that might not meet your expectations
Liquidity is when you look at your investment portfolio and **** your pants
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I found it's really hard to predict the future of the gold, not only because it's going nowhere, but also the exchange rate between $ and £.
I was actually monitoring the price of the gold both in $ and £. I can say gold price in $ was lower than the gold price in £.0 -
Would an IFA ever recommend Gold though
Your too late on the dont buy gold thing, its falling back so now it makes more sense to gradually start buying again :laugh:
A quick look at the stats does show a downward trend though, so I would expect further falls if such things are predictable at all
Gold is so highly rated now that london mint ltd pulled a crafty on me and sent me some sort of golden dime instead of a sovereign, the tricksters. I guess the gold price made it too much of a bargain for them to go through with their offer
Cool this TA site agrees with me
http://uk.stoxline.com/q_uk.php?s=gldPrice and moving averages has closed above its Short term moving average. Short term moving average is currently below mid-term; AND below long term moving averages. From the relationship between price and moving averages; we can see that: This stock is NEUTRAL in short-term; and BEARISH in mid-long term.0 -
I think the general rule bounded about is - keep less that 5% of your diversified portfolio in gold as a hedge against superinflation.0
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sabretoothtigger wrote: »Would an IFA ever recommend Gold though
Yeah - maybe we'll get some expert answers but I don't think they're authorised to recommend precious metal investments. And probably not even a diversified commodity futures fund (probably considered too much of an 'alternative investment') - despite the beneficial diversification it offers to a portfolio.0 -
Another pointless thread
:T
.....although I do enjoy seeing people put their neck on the line regardless of whether they shout buy, or don't buy, gold. :rolleyes:0 -
Buy gas, electric, coal, nuclear & green technologies.
Spread bet!Not Again0 -
kingmonkey wrote: »I think the general rule bounded about is - keep less that 5% of your diversified portfolio in gold as a hedge against superinflation.
as long as we agree 0% is less than 5%, then I concur with the rule, and have always abided by it :beer:0 -
Fed up with reading countless threads about buying gold. Without naming the Numpty on here who keeps punting buy, buy, buy gold. I thought I would post the opposite. My IFA of 30yrs, My fund manager who I have more faith in than a certain Numpty on here and his entourage who keep prostituting the yellow metal are going nowhere into investing in G**d. My portfolio which doesn't include G**d is comfortably up. So I suppose my message is to those of you who want to make a quick fast buck and become Klondike Pete, is to think long and hard b4 you enter this volitile investment. Its ok if you want a nice sov or Britannia to admire in its presentation box but be VERY careful before you part with a shed load of hard earned brass on this 'precious metal' that might not meet your expectations
As you seem so against buying gold, please tell us what a good savings strategy would be in these uncertain times? Lots of people on these forums want to protect their falling investments and pensions, so it would seem prudent to offer positive advice rather than negative. Tell us the secret of your success!A cynic is a man who knows the price of everything but the value of nothing. (Oscar Wilde)
We all pay for life with death, so everything in between should be free. (Bill Hicks)0 -
Tell us the secret of your success!
By getting a good IFA, choosing a diverse investment strategy and having a Fund manager with a proven track record. What I don't do is listen to people on here who are neitherLiquidity is when you look at your investment portfolio and **** your pants0
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