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Sterling gold price hits new high 03/05/2010

Asheron
Asheron Posts: 1,229 Forumite
in Debate House Prices & the Economy
The gold price has hit a new all-time high in sterling terms as concerns about a hung parliament in Britain and the debt crisis in Greece weighed on the pound.

Gold hit £773 an ounce last week, a rise of around 25pc over the past year. Bullion also surged in dollar terms too, hitting $1,181/oz on safe haven demand.

http://www.telegraph.co.uk/finance/personalfinance/investing/gold/7668425/Sterling-gold-price-hits-new-high.html
As an investor, you know that any kind of investment opportunity has its risks, and investing in Stocks or Precious Metals is highly speculative. All of the content I post is for informational purposes only.
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Comments

  • abaxas
    abaxas Posts: 4,141 Forumite
    Hi there, Hamish' gold loving brother.
  • MrEnglish
    MrEnglish Posts: 322 Forumite
    £800 soon, then 900 then a grand.

    This will seem very cheap by 2011 and 2012.


    Just like silver for 6 quid an oz silver seems cheap now its more than double that. I started buying silver at 6 pounds an oz but Im still putting 10% of my income into physical silver now.
  • Cleaver
    Cleaver Posts: 6,989 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    MrEnglish wrote: »
    Just like silver for 6 quid an oz silver seems cheap now its more than double that. I started buying silver at 6 pounds an oz but Im still putting 10% of my income into physical silver now.

    Do you not think it's just a tad risky to put 10% of your entire income in to one very specific asset?
  • DVardysShadow
    DVardysShadow Posts: 18,949 Forumite
    MrEnglish wrote: »
    I started buying silver at 6 pounds an oz but Im still putting 10% of my income into physical silver now.
    Obviously looking to offload silver while the going is good.
    Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam
  • Asheron
    Asheron Posts: 1,229 Forumite
    Cleaver wrote: »
    Do you not think it's just a tad risky to put 10% of your entire income in to one very specific asset?

    More risky keeping your paper money in the bank Cleaver.
    As an investor, you know that any kind of investment opportunity has its risks, and investing in Stocks or Precious Metals is highly speculative. All of the content I post is for informational purposes only.
  • Cleaver
    Cleaver Posts: 6,989 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    Asheron wrote: »
    More risky keeping your paper money in the bank Cleaver.

    You think so? I don't agree. I think investing 10% of your income in one asset is just as risky as keeping all your money as cash. Both are 'risky' strategies in my eyes.
  • Cleaver
    Cleaver Posts: 6,989 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    I don't expect you to actually tell anyone Asheron, but what percentage of your gross income do you save / invest and what percentage of that overall portfolio is directly invested in gold?
  • MrEnglish
    MrEnglish Posts: 322 Forumite
    DVardysShadow wrote: »
    Obviously looking to offload silver while the going is good.

    Im not selling any silver until it revalues to account for all the paper that has been printed.
  • Exocet
    Exocet Posts: 744 Forumite
    MrEnglish wrote: »
    Im not selling any silver until it revalues to account for all the paper that has been printed.
    Excellent - we have gold bugs and silver bugs. Could be a serious fight if these two get going.
  • MrEnglish
    MrEnglish Posts: 322 Forumite
    Exocet wrote: »
    Excellent - we have gold bugs and silver bugs. Could be a serious fight if these two get going.

    Not really, they are both going up.

    I think when gold gets to $2000 and silver gets back up to $50, the masses will be thinking $50 an oz silver has more chance to double than $2000 gold.
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