Gold

stargazers

Hi guys,

I'm still really new to this forum so excuse the "newbie"-ness!

Anyhow, just wondering if anyone knows anything about buying GOLD?

A friend of mine swears by it.

I have around £4500 in an ISA but the going rates are all quite sad!

Just wondering if it would be better to sink all of that money into gold or just keep it in a low rate ISA. Any advice would be appreciated!

Thanks,

xox

j

nzseries1

A quick search of the forum will reveal that Gold has been discussed extensively (heaps and heaps last month). I'm sure you can find the answers to your questions in one of them.

http://forums.moneysavingexpert.com/showthread.html?t=1514271
http://forums.moneysavingexpert.com/showthread.html?t=1533481
http://forums.moneysavingexpert.com/showthread.html?t=1532537
http://forums.moneysavingexpert.com/showthread.html?t=1497521
http://forums.moneysavingexpert.com/showthread.html?t=1505703
http://forums.moneysavingexpert.com/showthread.html?t=1501505
http://forums.moneysavingexpert.com/showthread.html?t=1500945
http://forums.moneysavingexpert.com/showthread.html?t=1491571
http://forums.moneysavingexpert.com/showthread.html?t=1470243
http://forums.moneysavingexpert.com/showthread.html?t=1226655

Masomnia

What percentage of your savings does that amount add up to? How much of your savings are you risking? Conventional wisdom is that 5% of your savings could go into gold.

Gold is around 8% off its peak now, with no guarentee of going back up. Are you prepared to risk your capital that way?

nzseries1

Masomnia wrote: »

Gold is around 8% off its peak now,

May I ask how you know this, without the possession of a crystal ball or magic 8-ball?

EDIT: Ah... do you mean historical peak?

Masomnia

nzseries1 wrote: »

EDIT: Ah... do you mean historical peak?

I do indeed. Sorry for my imprecise English.

nrsql

http://www.theaustralian.news.com.au/business/story/0,28124,25204164-5005200,00.html

March 18, 2009
"We're not getting the flight to safety," Mr Epstein said. "The story they need is either safe haven, which is out of vogue right now, or inflation, which hasn't returned.

Mr Epstein put support for April gold around $US900 and for May silver around $US12.50

nzseries1

Masomnia wrote: »

I do indeed. Sorry for my imprecise English.

It's fine, I didn't mean to be pedantic, it's just that when I first posted I thought you were one of these people who claimed they knew 100% what the price of gold will do in the next year or so - there's a lot of people that say they're 100% confident and they all have different opinions!

Fur156

The best thing you could do is.

Take your time and watch the price of gold per troy oz. ( I have been watching for over 4 years now and though I keep a close eye, this does not make me a expert ).

Speak with an IFA about investing, they will be able to talk things over with you about the pro's and con's of the metal.

IMO gold is at a very high price per troy oz at the moment and if I had any I would more than likely sell at the moment than buy.

Also remember if you buy gold, you may have to wait for many years to make you a nice profit.....

Like everything else, an investment can go up or down.

TH1878

nzseries1 wrote: »

May I ask how you know this, without the possession of a crystal ball or magic 8-ball?

EDIT: Ah... do you mean historical peak?

Taking into account inflation, it's actually about $1200 off it's historical peak. In absolute terms it's close, but the last major peak was in the early 80s I believe.