Thinking of buying gold bars !!

Ark_Welder

SergeyLEM wrote: »

But It's no need to have a lot of money to buy gold today. The minimum amount of buying gold is 1 gram.

1 gram of gold might be a very decadent luxury for those whose budgets are more concerned with food and heating.

sabretoothtigger

Is it possible to buy 1 gram of gold and pay 3% or less in fees. I thought that was unfeasible

For low amounts of money most people would be better off paying forward any bills like storing food that might go up in price and keeps well or fixing the house energy costs so its capped. You pay more near term and it secures a rise no more then +20% till 2014 or something like that

Barring that buy an indexed cert and lose the spread costs of buying gold. I dont think gold is especially practical for most people.
Hence I would take some alarm if the population in general was looking at gold as useful - thats true in places like Vietnam & should not ever be the case in UK

newDude

sabretoothtigger wrote: »

Is it possible to buy 1 gram of gold and pay 3% or less in fees. I thought that was unfeasible

You're right, it's a lot more than 10% minimum, and almost all the places selling 1gm have sold out.

jonesMUFCforever

People buying gold at record high prices whilst some shares are on the floor!
I know where I would be investing.

Where is the up side to investing in gold?

Geoff23

jonesMUFCforever wrote: »

People buying gold at record high prices whilst some shares are on the floor!
I know where I would be investing.

Where is the up side to investing in gold?

As far as I am concerned, gold isn't really an investment at all. I expect it only to hold its value whilst the value of fiat paper currencies falls. So it isn't really about the up-side to investing in gold...it's about the down-side of sitting on cash or assets denominated in fiat money whose value will fall if/when the currency devalues.

Gold is going up because people's faith in fiat currencies is going down. If you believe that the causes of this loss of faith are going to get worse, then you should own some gold.

There's a simpler answer: the upside to owning gold is that there is no counter-party risk. The same cannot be said of any form of wealth which depends on things like other people paying their debts off, or governments being trusted not to print excessive amounts of money, etc... The only risk you run is theft or confiscation.

padington

Bullionvault is the best way to buy gold digitally in my opinion.

sabretoothtigger

I have an account there but they wouldnt accept that I exist. Meanwhile the banks just use the election register.
They would be ideal if it werent for trading fees or if the fees scaled perfectly down to 1 gram. Do they compare well to the Perth Mint

I have heard of a credit card linked to gold. Your cash bills are settled against your gold account literally.

Also some banks have started taking gold as a deposit that can be borrowed against, held as cash to some extent.
Go back 300 years or so and we are repeating history here apparently

I do not believe UK shops will ever have the need to physically take gold coins. That is taking the whole story a bit far though I like Mad max movies as much as anyone

jonesMUFCforever wrote: »

People buying gold at record high prices whilst some shares are on the floor!
I know where I would be investing.

Yes nobody likes shares, they keep going down so whats the point :eek:
What is really strange is the gold price goes up but the gold miners who make the gold are worth less, the share means you own the mine and own the gold so how does that make any sense at all.

They even pay a dividend while you wait and gold cant do that so I see shares as way less popular and more sensible to own, totally agree

Where is the up side to investing in gold?

There is an upside to gold. I agree its value is flat over time. However right now its use is increasing which means demand is rising. We look at supply and its much the same increasing but at a lagging pace compared to much more volatile demand.

To see upside for this year and rest of the decade we just got to be sure demand for gold is solid.
So long as we have confused politics, economics and markets I think gold as a mediator is increasing



money supply to gold link
Euro is strong?

masonic

You certainly don't want to buy a gram of gold at those sites. With their minimum storage fees it would be gone within a year.

lvader

Gold dropping quite heavily today, $1650 by the end of the week?

Geoff23

lvader wrote: »

Gold dropping quite heavily today, $1650 by the end of the week?

I hope so...if there's going to be another serious dip, then it needs to come pretty quickly. The situation in the eurozone looks to me like it is deteriorating again.