Buying Gold

dreem

Any thoughts on whether its too late to get into gold now the price is so high? I've seen fairly credible articles about gold potentially heading over $2,000 / oz over the next year but looking at charts like on thegoldbullion.co.uk/gold-price-chart on the 7 day chart I see the price dropped 10% in two days!

Lokolo

Have you ever invested before?

jimjames

10% drop in 2 days shows how volatile it can be. If you are prepared to invest and lose at least that amount of money in 2 days then something to think about as part of a balanced portfolio.

King_Of_Bling

dreem wrote: »

looking at charts like on thegoldbullion.co.uk/gold-price-chart on the 7 day chart I see the price dropped 10% in two days!

I don't see a 10% drop within the last seven days???

Reaper

Neither do I. According to the chart it went from £994.28 to £982.96 in 2 days (hover over the graph to see the amounts).

That's a decrease of just over 1%.

Randvegeta

Where would one invest in gold in the UK? Are their gold accounts offered by banks? How much do they cost? I could invest in gold using my overseas accounts.. but I'm curious how one would go about it here in the UK...

On a side note, if someone were to pay you in gold, how would it be TAXed?

Ark_Welder

Reaper wrote: »

Neither do I. According to the chart it went from £994.28 to £982.96 in 2 days (hover over the graph to see the amounts).

That's a decrease of just over 1%.

I think the OP is confusing % with £

atush

you can buy gold several ways from physically owning it (coins and bars bought thru a seller of coins etc) to owning it physucally thru your broker (i bought it via my Barclays acct). You can buy shares in ETFs which either hold gold, or synthetic ETFs which trade in derivatives and don't hold physical gold.

There are risks involved in holding your own gold in your house, and in holding synthetic ETFs.