Currency savings

DiggerUK

lvader wrote: »

With gold you are effectively buying US$, since that is what it is traded in. If the pound gains against the US$ your gold loses value.

No, when you buy gold you are buying every currency on the planet, gold is the universal money that can be converted in to any currency.
To date I have only ever bought gold in GBP.

lvader

You can buy in any currency, but since the gold price is set in US$ (like oil) you are effectively buying US$ when buying gold and selling US$ when selling gold. The amount of money you gain or loose is just as dependant at currency fluctuations as it is of the price of gold.

DiggerUK

lvader wrote: »

You can buy in any currency, but since the gold price is set in US$ (like oil) you are effectively buying US$ when buying gold and selling US$ when selling gold. The amount of money you gain or loose is just as dependant at currency fluctuations as it is of the price of gold.

Wrong.
Gold is like a McDonald's. Available in all countries in the local currency.

You don't really gain anything by owning gold, except to preserve your wealth against currency debasement.
As money, gold is the ultimate short against all currencies.
All paper money is in dire straits, which is why I am a big fan of gold.