Gold Buying

Brenjamin

Does anyone know what's the safest way to buy gold? Sovereigns would be the way I'd be inclined to go.

shaun_from_Africa

About the only advice really is to make sure that you stick to reputable dealers and pick one that doesn't charge too high a mark up.
Below are a couple of places that I've bought from, and never had problems with either of them.
I've generally found Elm to be slightly cheaper than other dealers.

http://www.elminvestments.co.uk/gold-coins.html

http://www.taxfreegold.co.uk/

Be wary of buying from online auction sites as these are sometimes more expensive than dealers, and there is the possibility of getting fake coins that are worth far less than you pay, or could even be totally worthless.

http://www.goldsovereigns.co.uk/fakes.html

MacsReturns

Welcome, Brenjamin :beer:

I'd say follow your inclination What's worked for me has been getting to know a local, High St jeweller who has a 'cash for gold' sign outside the shop. I've paid premiums as low as 1% over spot that way for sovereigns - make sure you know the day's spot price before you go in though .

Otherwise Shaun has it all covered.

sabretoothtigger

Cheapest gold would be the stuff still underground I think. I dont think most gold miners are overvalued

DistortedVision

I'd recommend Baird & Co:

http://www.goldline.co.uk

They are assayers so you will be buying newly issued bullion bars or whatever you choose directly from the manufacturers. They also seem to have the lowest margins to the spot rate.

wombat42_2

Investec Global Gold Fund for me:
http://www.h-l.co.uk/funds/fund-discounts,-prices--and--factsheets/search-results/i/investec-global-gold-accumulation

97trophy

I would use a Gold ETF (such as US:GLD or UK:PHAU)

C_Mababejive

Why would you buy Gold now?

wombat42_2

C_Mababejive wrote: »

Why would you buy Gold now?

Gold is usually very seasonal, being flat or falling in the summer, July is usually the slackest month of the year. July last year was a fab buying opportunity. If i were you i would buy at the end of July. Most people think there is still a multi year bull market ahead for gold.

C_Mababejive

wombat42 wrote: »

Gold is usually very seasonal, being flat or falling in the summer, July is usually the slackest month of the year. July last year was a fab buying opportunity. If i were you i would buy at the end of July. Most people think there is still a multi year bull market ahead for gold.

I see..but i just cant get my head round this rush for gold.

OK so cash is no longer fashionable but it seems to me it would be better to buy into good quality equities and funds rather than investing directly in Gold.

People seem to keep advancing this "store of value" argument which just doesnt seem very real world to me.

I know its been debated ad infinitum here so i have no wish to launch another debate on the subject as id be wandering off topic.

wombat42_2

C_Mababejive wrote: »

I see..but i just cant get my head round this rush for gold.

OK so cash is no longer fashionable but it seems to me it would be better to buy into good quality equities and funds rather than investing directly in Gold.

People seem to keep advancing this "store of value" argument which just doesnt seem very real world to me.

I know its been debated ad infinitum here so i have no wish to launch another debate on the subject as id be wandering off topic.

Personally i invest in gold equities via Investec Global Gold http://www.h-l.co.uk/funds/fund-discounts,-prices--and--factsheets/search-results/i/investec-global-gold-accumulation
Quite a few people are bearish on equities in general as we may well be going back into recession. Gold should do well in deflation or inflation. If were you i would spend the rest of July deciding whether to invest in gold (or gold equities) and then invest at the end of July if you want to.