The DON'T buy gold thread

gozomark

Lol_UK wrote: »

I can make more money in a day than the current percentage interest an ISA would pay in 5 years so no point in that. So I should sell my gold (that I'm 15% up on in 4 months)?

you can also lose more in a day than etc etc

Stavros_3

Lol_UK wrote: »

So I should sell my gold (that I'm 15% up on in 4 months)?

That is a decision only you can make. If you are only invested in gold, then that is a high risk strategy One week your up, the next your down (take pb's out of the equation). You need to ask yourself, what is it you want, if its to increase your capital over a period of time then you need to consult an expert (I am no expert, that is why I pay an IFA) If your wanting to make fast bucks (or lose) then play the stock market, or put all your brass on red in a casino, either strategy is high risk and could end in tears, or beers.

jon3001

Thefunkygibbons wrote: »

The problem with Gold is that it does not earn an income

Why is that a problem?

Thefunkygibbons wrote: »

However, it is no different than an ETF in oil, basically a punt on whether the price willl go up or down

Wrong. Collateralised commodity futures can generate returns even when spot prices are static.

Lol_UK_2

gozomark wrote: »

you can also lose more in a day than etc etc

Yes, but we all know which way gold is going to go, don't we? (Heh heh):D

http://www.youtube.com/watch?v=Z-Id1_BlkME

gozomark

watching it now - he said gold should be about 10x the price of oil - oil then was 120, so he said should be 1,200 - oil's now at 40 odd, so does he think gold should be at 400 ???

stv1x

Sorry Stavros, but for as many IFA's that exist you could probably say that there are an equal amount of contradictory words of advice.

You seem to think that your IFA is going to be right, all of the time (because you pay him good money....pmsl) and that in itself is a dangerous position to be.

For what it's worth, my IFA advises to buy gold and has provided me with documentaion to back up his advice. Do I walk blindly into every piece of advice that he gives me without doing my own research? Not on your nelly!

sabretoothtigger

I heard peter 'liquidate the fed' schiff say he has 10% of his assets in gold, sounds relatively conservative

dizzie

:rotfl: Quote by Pssst "Invest in Chocolate. I have. I now have a huge box of Lilley O briens to chomp through .."

Ha ha... looking at the FT website, it looks like cocoa has been been doing quite well in the commodities markets! Just how many boxes of Lilly O'Brien's have you been munching through Pssst?

sabretoothtigger

gold price as of 20th Feb 09 - white is the nominal price, green is inflation-adjusted

Lol_UK_2

sabretoothtigger wrote: »

gold price as of 20th Feb 09 - white is the nominal price, green is inflation-adjusted

Which only show where gold has been - times are changing, global finances are unpredictable, the poo has yet to really hit the fan. As the experts are wont to say 'past performance is no reflection of future performance'....