We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
Debate House Prices
In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non MoneySaving matters are no longer permitted. This includes wider debates about general house prices, the economy and politics. As a result, we have taken the decision to keep this board permanently closed, but it remains viewable for users who may find some useful information in it. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Why on earth would anyone buy gold. What can you do with it and just Why really?
Comments
-
Some gold charts, adjusted to Sterling.
http://www.goldpreciousmetals.com/charts_historic_gbp.asp
A lot of volatility in the last six months.--
Every pound less borrowed (to buy a house) is more than two pounds less to repay and more than three pounds less to earn, over the course of a typical mortgage.0 -
Nows a good time to go door to door buying up scrap gold, people need cash and will sell it for less than its worth, don't worry about the qualityof the jewellry or whether its an articulated clown pendant, or a pair of boxing gloves on a chunky chain... its still worth the same as any other gold
Just steer clear of the 'Elizabeth Duke from Argos' stuff - God only knows how much of it you'd have to melt down and refine to get a decent amount of real gold out of it
--
Every pound less borrowed (to buy a house) is more than two pounds less to repay and more than three pounds less to earn, over the course of a typical mortgage.0 -
If you buy gold, do Securicor turn up on the doorstep with a tonne of it for you to store in your garage?
Assuming not, who holds it for you and what if they go belly up? How do you really know you own any?0 -
If you buy gold, do Securicor turn up on the doorstep with a tonne of it for you to store in your garage?
Assuming not, who holds it for you and what if they go belly up? How do you really know you own any?
You can hold it physically or have someone else hold it for you.
If someone else holds it for you, if they go bust the gold is still yours. The problem comes if someone else is has told you they're holding it for you but never actually buy the gold.
If I was holding gold I'd do it as sovereigns or similar and hold them in a safe deposit box.0 -
You can hold it physically or have someone else hold it for you.
If someone else holds it for you, if they go bust the gold is still yours. The problem comes if someone else is has told you they're holding it for you but never actually buy the gold.
If I was holding gold I'd do it as sovereigns or similar and hold them in a safe deposit box.
I can understand that.
I suppose gold being so expensive you can tie up quite a lot of money in a relatively 'small and light' holding.
I mean, how much gold - in weight - would you get for £50,000?
Willit be 9ct or 18ct, or is jewellery stuff a different product to nuggets?0 -
If you buy gold, do Securicor turn up on the doorstep with a tonne of it for you to store in your garage?
Assuming not, who holds it for you and what if they go belly up? How do you really know you own any?
If you have physical ingots that you are holding long term for emergencies - bury it in the garden or plaster it into a wall somewhere. Oh, and don't tell anyone you have it
More practically, you can buy physical gold through someone like Bullionvault who hold it in their vaults (for a fee). You are the owner of the amount of gold though. You set up an account with them, transfer some cash in and can then trade it if you wish.
As Generali says, coins are a good way to invest in it. Plus if they are sovereigns, all profit at time of sale is tax free. Otherwise profits are subject to CGT ... individuals have a yearly exemption of almost 10k.--
Every pound less borrowed (to buy a house) is more than two pounds less to repay and more than three pounds less to earn, over the course of a typical mortgage.0 -
I can understand that.
I suppose gold being so expensive you can tie up quite a lot of money in a relatively 'small and light' holding.
I mean, how much gold - in weight - would you get for £50,000?
Currently about £15,300 per kg on bullionvault but you don't get to hold the gold yourself, it stays in their vaults:
http://www.bullionvault.com/gold_prices.do?considerationCurrency=GBP
You usually pay a premium to get the gold in your hand from dealers. Apparently there's a real shortage of physical gold right now so you'd pay a fair premium.--
Every pound less borrowed (to buy a house) is more than two pounds less to repay and more than three pounds less to earn, over the course of a typical mortgage.0 -
If you have physical ingots that you are holding long term for emergencies - bury it in the garden or plaster it into a wall somewhere. Oh, and don't tell anyone you have it
.
I bet your LL loves you when you move out.
Worlds biggest mole in the garden and krusty has knocked half the walls down.:D0 -
You can always ask a leprechaun to keep it at the end of his rainbow and I hear the Irish govt is guaranteeing 100% security on it .....--
Every pound less borrowed (to buy a house) is more than two pounds less to repay and more than three pounds less to earn, over the course of a typical mortgage.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.3K Banking & Borrowing
- 253.6K Reduce Debt & Boost Income
- 454.3K Spending & Discounts
- 245.3K Work, Benefits & Business
- 601.1K Mortgages, Homes & Bills
- 177.5K Life & Family
- 259.2K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards