Gold

Crashtogether

is gold worth investing in at the moment? I'm looking to buy about £5k - £10k 's worth.

The alternative is putting it in a savings account which the best rate i can get is 5% gross per annum.

DiggerUK

Crashtogether wrote: »

is gold worth investing in at the moment? I'm looking to buy about £5k - £10k 's worth......

I was going to say no.
Then I remembered this thread.
https://forums.moneysavingexpert.com/discussion/2583121
What say you? If you have never considered gold before then there are plenty here who would be interested in knowing what your thoughts are.

Don't forget, this is the net. Nobody hears you blush in hyperspace anyway, so go for it.

Crashtogether

Never bought gold before and seems to always hold its value ( i can afford to hold it for a few years to regain value if lost). Seems to have had higher returns than 5% in recent months. no VAT!!

DiggerUK

Crashtogether wrote: »

Never bought gold before and seems to always hold its value ( i can afford to hold it for a few years to regain value if lost). Seems to have had higher returns than 5% in recent months. no VAT!!

Gold gets peoples juices going. Get a copy of Bogardes " The Treasure of the Sierra Madre" before you go any further. It is also a good movie.

If you do buy, then go a small amount at first just to see how it is all done. Would suggest that you buy about 2K+ for now as that will get free p&p off most net suppliers.
Also wear out a bit of shoe leather going round local coin dealers and pawnbrokers.

Do you have any idea of current prices?

sabretoothtigger

5 to 10% of your total wealth in gold is the usual mainstream advice I think, you can always do more but it would be speculating and nobody really knows that exactly

There is no interest on gold, you are gaining on the depreciation of British cash more or less. If that seems likely I think its ok to do

seems to always hold its value

not always but over decades apparently yes it does