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Buying in to Gold
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Tradetime,
I prefer your explanation. It's readable.
Now where's my tea leaves gone!!!Hope for the best.....Plan for the worst!
"Never in the history of the world has there been a situation so bad that the government can't make it worse." Unknown0 -
TT
Wine and gold under 600 has got me and Mrs D well vixed.0 -
Just gone under 600 an ounce.
Hold out or buy.
We are into our second bottle of wine.
HELP
Ive no idea if it'll go higher, I would guess yes but doesnt mean there isnt better places to invest money and gold isnt a 'proper investment' (imo) unless you like mines
gold and oil should probably go together as I think the cost of gold mining rises as energy costs do and also oil stocks give a nice yield to oppose golds no yield
Wine field investments tanked in australia I heard but at least you can drink itthough I heard they threw away stocks as demand fell
low or moving lower then it suggests complacency is creeping into the market.
We are back to Sept 08 in terms of 'stability' or long term, Sept 01
2006 was a ten year low in perception of risk apparently, its all about personal opinion0 -
STT,
We are (rounded off) 6 gold, 3 Index linked, 1 ISA.
We are more than likely going to scrap the older car before we buy gold. Trouble is it still runs well. Long term it seems the better option. I think it's any day soon that the scrap scheme starts.
(Mrs.D just said it's today.)
Signing off today before I do something silly with CID site. See you again.0 -
2006 was a ten year low in perception of risk apparently, its all about personal opinionHope for the best.....Plan for the worst!
"Never in the history of the world has there been a situation so bad that the government can't make it worse." Unknown0 -
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Bluey890,
Here is info on prices. The Kitco site is a mine of intel. Forum has a good spread of headbangers as well as good advice.
http://www.kitco.com/
These sites give prices.
http://www.coininvestdirect.com/main.php
http://www.goldinvestments.co.uk/shop/
http://www.goldline.co.uk/
http://hattongardenmetals.com/0 -
So whats best? Coins or bullion bars? I understand that there is no CGT on UK coins but what about bullion?
I intend to purchase small amounts sporadically (£500 ish at a time, perhaps 2/3 times a year) and just leave them in the safe for the long term then to resell in 10yrs or so. So a pretty collectors type coin is not important to me. If I were to look at coins, whats the difference between a UK sovereign that is only 917/1000 and another country at 999/1000 (ignoring CGT) - I assume sovereigns have a better resale in the UK than other coins despite the slight drop in gold content or am I barking up the wrong tree.
There is so much info out there, its taking a while to sift through it all - so anything direct and to the point would be great! (As long as that point in NOT you're mad!!)0 -
MDM,
If your investing in gold, then it is the gold content you are interested in.
The amounts you are talking about, then coins seem appropriate.
Precious metals are in troy ounces, (31.1 gms)
If you go to the CID link you will see that they give gold content in grammes, you can then do a calculation to compare to spot, or fix prices.
The Kitco site has real time spot fluctuations. This link has London fix and will explain more.
http://www.lbma.org.uk/statistics_current.htm
If you click on gold fixings at top left you can see it does seem to be an opportune time to buy in UK, buyers are hoping for it to go down further. Who knows.
Don't forget to track in GBP, after all that's the money in our pocket. Currency moves such as pound strengthening against $ means price of gold (pog) goes in our favour. Today being a case in point.
All gold in Europe is VAT free.
All UK legal tender coins are CGT free. Brits and sovs fall in this category, as do the numismatist issues of everyday coins. If you go to the Royal Mint site you will see the boutique mark up they charge. Best avoided for what you want, but if you see one at a bargain price, grab it.
Brits and sovs are internationally recognised and easily sold.
Hope this helps.0 -
Gold isnt the only commodity you could buy. If you will hold for ten years you might want to get a couple more practical ones to balance yourself
I think gold relys on the weakness of other currencies, it doesnt have much strength or demand for itself apart from jewellery.
I dont think global gdp will be depressed for ten years. So if some country(s) begin to do very well in the next ten years then it will be more attractive to hold their currency and get some interest on it then keep holding gold and getting nothing but security fees
The cost of mining gold is apparently about $270 per ounce so we have a big gap that might occur. The price will probably rise with dollar weakness or inflation wherever but for actual growth I dont think it will be worth having for ten years like you wouldnt open a short position for ten years on even a terrible company, it wont take that long for the position to peak in its worth
Old discussion of gdp vs present
http://www.treasury.gov.au/documents/1190/HTML/docshell.asp?URL=05_boom.asp0
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