Thinking of buying gold bars !!

edited 30 November -1 at 1:00AM in Savings & Investments
144 replies 33.7K views
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  • DiggerUKDiggerUK Forumite
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    buddy143 wrote: »
    .....Can we make any bargaining? .....

    No, you cannot bargain.
    If you do find someone who will haggle, trust me, they are charging way too much to start with.

    To calculate if you are being charged a fair price, go from most recent spot/fix prices and add up to 3/4% on top.
    You won't pay less, you should not pay more.
    Best of fortune.
    ..._
  • edited 27 July 2011 at 8:38PM
    jimjamesjimjames Forumite
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    edited 27 July 2011 at 8:38PM
    Ark_Welder wrote: »
    So your post #5 is misleading. There is no correlation to the debt ceiling and the price of gold. Selective scaling has been used on the data sets to imply a link, whereas there is none.


    Post elsewhere have already shown the following history of the debt ceiling going back to Paul Volker's time (1979-87):

    http://news.bbcimg.co.uk/media/images/54236000/gif/_54236326_us_debt_464_corr.gif

    And the post doesn't show inflation either.

    How much is that 1980 oz of gold in 2011 terms? Current price is certainly not a peak if you take inflation into account - which surely is the whole point of being told gold is a hedge against printing money?

    I certainly wouldn't want to have to wait over 30 years for my money to get back to where it started!
    Remember the saying: if it looks too good to be true it almost certainly is.
  • sabretoothtiggersabretoothtigger Forumite
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    If the price is high, all it means is that they are expensive to buy now.

    Price and value are separate. The gold price is not high relative to devaluation, that is a similar fallacy that has people 'saving' cash at 3% with inflation at 5%

    If it were that simple nobody would bother, gold is cheap if anything so far as I can tell. I'd only think otherwise if I heard of zero deficits and alot more sensible actions, whatever happens they appear to not be taking that option.
    All discussion about dollars relates to sterling more then the euro


    30 grams is roughly an ounce so 200 is about 6 ounces. Dont save more then you'd keep in cash is fair advice as gold is an investment in nothing hence its 'safety'
  • edited 28 July 2011 at 12:05AM
    Ark_WelderArk_Welder Forumite
    1.9K Posts
    edited 28 July 2011 at 12:05AM
    i did manage to find a graph that is plotted back to 1971 till 2010


    if you get time would you kindly link to the posts you mention as i have not managed to find them yet.

    The problem of the US debt ceiling thread in the 'Debates' Forum, so available only when logged on.


    The graph is nonsense. There is a presumption that the data on one axis causes the outcome of the other. There appears to be an arbitary decision taken to imply a relationship between $1000Bn of debt and $100 of gold price. Then, these two separate data sets are processed to provide a linear prediction of the supposed relationship, over which a plot of the gold price has been laid -as if to represent 'results'.

    The top of the page from which the graph is taken does state: 'WARNING: This is not financial advice, just a fun project for me.'

    [edit]
    I could probably knock up a similar looking graph where one of the axes is changed to represent my waistline in cm over the same timescale. That would probably plot a much closer set of 'results' against the US Debt figures than the price of gold does.
    Living for tomorrow might mean that you survive the day after.
    It is always different this time. The only thing that is the same is the outcome.
    Portfolios are like personalities - one that is balanced is usually preferable.



  • bobbi_obobbi_o Forumite
    4 Posts
    include PFI contracts,unfunded public sector pension commitments on top of official uk debt figures and our total debt figure is £5 trillion or 340 percent of GDP.

    our debt burden is so huge that we're incapable of growing the economy,infact its shrinking. we're pretty much stuffed. can't be long till we're printing zimbabwe like value notes
  • Ark_WelderArk_Welder Forumite
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    bobbi_o wrote: »
    ...

    Any facts to back up your statements and figures?

    http://www.economicshelp.org/blog/uk...national-debt/
    Living for tomorrow might mean that you survive the day after.
    It is always different this time. The only thing that is the same is the outcome.
    Portfolios are like personalities - one that is balanced is usually preferable.



  • pinkoo_2pinkoo_2 Forumite
    3 Posts
    I don't underatand why the gold is more and more expensive.Many people invest it.such as my grandmother.maybe it is agood choice at this moment
  • buddy143buddy143 Forumite
    92 Posts
    Just want to pick your brains again.
    Whats the difference between Pamp, Valcambi, Umicore, Emirates 100g gold bars ??
    Are they the same product from different countries? Will there be any difference in the quality. I presume 24carat gold is 999.99 gold !!
    There does seem to be a price difference between the whole lot.
  • buddy143 wrote: »
    Just want to pick your brains again.
    Whats the difference between Pamp, Valcambi, Umicore, Emirates 100g gold bars ??
    Are they the same product from different countries? Will there be any difference in the quality. I presume 24carat gold is 999.99 gold !!
    There does seem to be a price difference between the whole lot.

    Good question. I've bought Umicore in the past and noticed Metalor is always more expensive for the same weight. Some one said it is supply and demand, but gold is gold!
  • JegersmartJegersmart Forumite
    1.2K Posts
    The problem with gold is that a lot of cheap money has gone there as a result of massive QE, if that money finds a better place to be then the correction in gold may be fairly savage. We have to separate out the fundamentals from the speculative. I am not a buyer of gold at anything over 800usd per ounce personally, as the metal also has no actual practical use whatsoever. Silver, Palladium and so on with pratical applications perhaps.....

    all imho, dyor.
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