Gold surging again

wombat42_2

following on from Friday

Gold up 3.44%
Gold mining shares up around 15%

Lokolo

Have you made any money yet so I can get my share?

purch

Copper Futures up 8-9% too.

Keep an eye on Copper..........it's a good lead indicator

Reaper

Everything is up, not just gold. As I write the stock market is up nearly 10% on the day and it was up about 4% on Friday too (from memory). So I've yet to be convinced I should be in gold.

Ephemera

Reaper wrote: »

Everything is up, not just gold. As I write the stock market is up nearly 10% on the day and it was up about 4% on Friday too (from memory). So I've yet to be convinced I should be in gold.

Trouble is, by the time you've been convinced everyone else may have come to the same conclusion...

Might be worth a bit of speculation...but not all of your portfolio!

jon3001

Reaper wrote: »

Everything is up, not just gold. As I write the stock market is up nearly 10% on the day and it was up about 4% on Friday too (from memory). So I've yet to be convinced I should be in gold.

Gold can have a role as portfolio insurance. Did your portfolio do okay without the insurance?

Masomnia

wombat42 wrote: »

following on from Friday

Gold up 3.44%

My RBS shares did better so ner ner ner ner ner.

v.rajput

Hi,

I dont suppose you could tell me the first thing about investing in gold?

Ephemera

Depends on how much you want to invest and how long you want to hang on to it.

I buy sovereigns, as coinage, there's no Capital Gains tax to pay when you sell them, and they are easy to buy, downside is they are more expensive than billet gold, but then again if you're investing tens of thousands then billet might be a better buy...

Try here for sovereigns but bear in mind the prices are very out of date, you will need to call them for the latest rates. They are a very professional company, have dealt with them myself and very happy with the service.

For gold bars, etc you may be better buying 'virtual gold' that someone else stores for you - I've no experience in that myself, so do a little research on companies and then post the info for others to comment on...I'm a very small-time investor!!

All the best,

Eph xx

v.rajput

Thanks very much, there are websites that you "buy" gold and they hold it for you, but has can they be trusted?
Id be very intrested in coins too: I know that in india my parents made up heavy gold bangles, just plain no labour skill involved-to sell when times where bad.

Would this be the same principle as the coins?

Ephemera

I've not used the sites that hold gold for you, there will be reputable ones out there but personally I like to know where my investments are...!

With coins, traditionally in the UK sovereigns were mounted into jewellery in the same way as your parents did, to securely store and transport wealth. Recently the coins are used only as decorative items, and instead of multiple coins just one is used.

If you chose to do this you will not be able to drill holes in the coins without affecting their value, so mounting will need to be done in a different way. And bear in mind that carrying a lot of gold around leaves the wearer open to attack if someone else knows they are carrying a lot of money...

All the best,

Eph.