Buying gold - websites to recommend

newsaver2008

And I think the reason buying gold being suddenly so much more popular in Turkey was due to the 2005 banking crash (where people DID lose money) and obviously people lost confidence big-time in the banking system.

sabretoothtigger

Gold is recommended as a hedge against the apocalypse. Under normal business 5% of your wealth should be in it I have read however unless you are rich it would not normally be worth buying physically unless you like it as a jewellery I guess

Its basically inefficient, to buy £1000 worth, you'd end up with like £800 worth of gold, the rest is a premium paid to the maker, seller, distributor of the bar or coins apparently.

Hence why TT says 50k worth, buying less then that would lose more money then anything else in the short term and under normal business.
If you think the dollar or whatever will half in value over the next year then it could still make sense.

I did read a really good article on various costs to buy it physically but I didnt save the link so try google maybe, think it was a newspaper

Here is the guy who said a few years ago the us economy would crash due to the housing bubble causing a bad debt cascade effect.
Now he says you will be able to buy the dow for 1 ounce of gold (this was true in 1980 ), gold will double or more in price

http://in.youtube.com/watch?v=pGHODRNJqRo

dobefan

sabretoothtigger wrote: »

Its basically inefficient, to buy £1000 worth, you'd end up with like £800 worth of gold, the rest is a premium paid to the maker, seller, distributor of the bar or coins apparently.

I purchase bullion coins a single at a time, and even with paying a premium etc. the last ones I bought only several weeks ago are in profit ... though I don't look at it like that... I buy them to keep them as a sort of pension.

All my other ''Investments'' :eek: shares, home, pension are a joke if it wasn't so serious ... taking a little chance with some gold cann't be any more risky.

AIMHO I'm not saying its for everyone, because there wouldn't be enough to go around ... I'm trying to get a nice little stack while I can.

Cheers

sabretoothtigger

I was just reading gold sovereign are not subject to vat or cgt

If a gram of gold is worth $27, your coin is 7 grams and worth $200?

Pension sounds a dangerous idea when you look how low the price fell in the past but as insurance with other investments I understand


I see them on sale for $250 each here, I guess you are considering resale value not the melt down weight which is fair enough



http://www.taxfreegold.co.uk/2002sovereigns.html

http://www.moneyweek.com/investments/precious-metals-and-gems/why-you-should-buy-british-gold-sovereigns-16088.aspx

mzqa395

ten ways to invest in gold

http://www.telegraph.co.uk/finance/personalfinance/investing/3530663/Ten-ways-to-invest-in-gold.html

tradetime

Persoanally I think the simplest most cost effective way for the average individual to invest in gold is through an etf. For high net worth individuals then there is a case to made for holding bullion via a gold vault.

sabretoothtigger

I agree except didnt lehmans operated etf and barclays is the worlds largest etf dealer? Whats the risk of loss there


Heres a vid talking about gold, 5000 dollars an ounce by the end of obamas term is one prediction.
Schiff says silver is due for a greater rally as it usually tracks gold more closely
http://in.youtube.com/watch?v=pkINEzrlsOQ&feature=rec-HM-r2

tradetime

sabretoothtigger wrote: »

I agree except didnt lehmans operated etf and barclays is the worlds largest etf dealer? Whats the risk of loss there

As far as I know Barclays now operates Lehman's etfs, at the end of the day it is an asset that is likely to be taken over in the event of an institutional failure. Investors should take care though to understand what it is they are investing in, for example I believe Lehman ran a few ETN's, these are a different animal based on their design, they disappeared along with Lehman. Having said that, most of the major banks left would now be classed as too big to fail.

newsaver2008

Tradetime, excuse my ignorance, what is an etf?

tradetime

newsaver2008 wrote: »

Tradetime, excuse my ignorance, what is an etf?

ETF = Exchange Traded Fund. Essentially they are funds that track an index, they trade like a stock, can be bought and sold through any brokerage, costs tend to be considerably lower than mutual funds since they are generally not actively managed. They are a great way for individual investors to gain diversification without buying dozens of different company stocks, they range from very broad etf's such as SPY which tracks the S&P500 down to quite specialized sector funds such as SMH which tracks the Semi-conductor Index. There are also etfs that track individual commodities, such as GLD (street tracks gold) and currency etfs such as FXY which tracks the Japanese Yen. A very useful product group. Note these examples are all etfs which trade on US exchanges, similar products with different ticker symbols are available to trade on UK markets.