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Why massive queues for gold coins yet gold price going down ?

2

Comments

  • dunstonh
    dunstonh Posts: 120,188 Forumite
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    Ah, yes, sorry, I misread the question as " why are people rushing to buy gold coins ".

    That is a better question though ;)
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • Oblivion
    Oblivion Posts: 20,248 Forumite
    Part of the Furniture 10,000 Posts Photogenic
    sadabbott wrote: »
    you cant eat gold. better to stockpile baked beans.

    Time to invest in methane gas production then ... then again, perhaps not, the wife's a part-time eco-warrior :rotfl:

    Dave.
    ... Dave
    Happily retired and enjoying my 14th year of leisure
    I am cleverly disguised as a responsible adult.
    Bring me sunshine in your smile
  • StevieJ
    StevieJ Posts: 20,174 Forumite
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    Count_Dante wrote: »
    I suppose buying gold coins and bars is a hedge against complete economic collapse, causing paper money to be completely worthless. But it seems a bit extreme to be investing the entire proceeds of a house sale in the stuff. Is there not huge tax to pay in gold bullion as well?

    If the whole system has collapsed who is going to want gold? rice or potatoes maybe.
    'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher
  • amcluesent
    amcluesent Posts: 9,425 Forumite
    >If the whole system has collapsed who is going to want gold?<

    every society has created a means of exchange, shells, cows, gold...
  • Pssst
    Pssst Posts: 4,803 Forumite
    Part of the Furniture 1,000 Posts
    If you want to buy a slice of this over priced pie try here
    www.bullionvault.com
  • dunstonh
    dunstonh Posts: 120,188 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    I'm buying hula hoops. In a world of uncertainty its nice to know I can still get my fingers inside a hula hoop.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • project500
    project500 Posts: 61 Forumite
    Brilliant thanks for the tip. Right Hula hoops it is . I am out to buy loads up tomorrow!
  • dadsarmy
    dadsarmy Posts: 122 Forumite
    If gold is such a good investment - why are people selling it?

    Surely better to hang on to it and sell later if worth more?
  • ManAtHome
    ManAtHome Posts: 8,512 Forumite
    Part of the Furniture Combo Breaker
    dunstonh wrote: »
    I'm buying hula hoops. In a world of uncertainty its nice to know I can still get my fingers inside a hula hoop.
    Blimey, thought you meant the once popular excercise equipment rather than the popular packaged snack at first - could just picture you at your grand-piano keyboard (bit like the Lenny Henry (?) preacher).
  • cheerfulcat
    cheerfulcat Posts: 3,406 Forumite
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    dadsarmy wrote: »
    If gold is such a good investment - why are people selling it?

    Surely better to hang on to it and sell later if worth more?

    I would imagine that a lot of sales come from gold producers. Governments also sell gold from time to time...

    As to the investment part; there was a cracking case for investment five or six years ago - at today's prices I'm not so sure. But I suspect that the people reportedly queuing round the block for coins and bars are looking for a " safe " home for their money, not an investment as such.

    Interesting to note that even the IMF considers gold a store of value.
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