Do i buy gold or not??

smurph306 · 5 August 2008 at 9:13PM

I was interested in buying krugerrands. But im not sure if now is a good time? I have no savings, so i though gold is a good idea. If i put money in a savings account i will simply use it, plus it'd boring.

[Deleted User] · 5 August 2008 at 9:22PM

Not the best time to be buying gold but it would work out better then blowing it on champagne or a new car as at least youll have something there at the end of the day.

It is hard to find a investment that totally stops you getting at the money, so id recommend books on cognitive behavioural therapy to try and control your spending emotions and invest the money in high interest bonds/regular savers or investment funds.

wombat42_2 · 5 August 2008 at 9:26PM

smurph306 wrote: »

I was interested in buying krugerrands. But im not sure if now is a good time? I have no savings, so i though gold is a good idea. If i put money in a savings account i will simply use it, plus it'd boring.

Dont mess with gold if you have no savings. But for the benefit of others, Sept through to March most years are very good for the gold price partly because of local eastern customs in which they buy a lot of gold. August is the end of a slack period.

kingmonkey · 5 August 2008 at 9:27PM

Gold is pretty boring. Doesn't do anything. Just looks shiny.

6022tivo · 5 August 2008 at 11:20PM

Looking at buying gold also, either through some method on selftrade, or some krugerrands via ebay...

What sort of price should I be looking at today..

Any charts on the internet re price fluctuations.

a7man · 6 August 2008 at 9:51AM

Gold is an investment for the capital rich, not really for the average investor. If your looking for excitement, why not dabble in some equities/ funds? Or you could invest in a pooled investment that invests in gold rather than doing it directly.

6022tivo · 6 August 2008 at 9:54AM

Well, I am enjoying Selftrade at the moment. Taking advantage of the commision free mobile trades.

Did make a little on B&B near doubling the last month, got that out (Except for the 250 free ones I have had for years).

Just chucked a load of money on a couple of companies via selftrade this morning, have a hunch, and some little inside info on another.. We will see.

It is quite exciting really, gambling on a larger scale..