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Investing in Gold
john.john.john
Posts: 3 Newbie
I'm considering investing some money and have come across gold. A few weeks ago the price was around £14000 for 1Kg and I have just checked again and it is £21500 for 1Kg, does anyone know about the gold market, is it suitable for long term/short term investments? Thanks
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Comments
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Are you sure about those figures? I was under the impression that gold costs were much more consistant than that!I am a Chartered Financial Planner
Anything I say on the forum is for discussion purposes only and should not be construed as personal financial advice. It is vitally important to do your own research before acting on information gathered from any users on this forum.0 -
In fact, looking at some charts, the price in dollars has increased by about 5% in the last month. I think you must have got your figures wrong somehow!I am a Chartered Financial Planner
Anything I say on the forum is for discussion purposes only and should not be construed as personal financial advice. It is vitally important to do your own research before acting on information gathered from any users on this forum.0 -
sounds very much like a troll to me.0
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hmm, maybe I shouldn't have responded then!I am a Chartered Financial Planner
Anything I say on the forum is for discussion purposes only and should not be construed as personal financial advice. It is vitally important to do your own research before acting on information gathered from any users on this forum.0 -
whats a troll?0
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Gold has more than doubled in value since 2001. Around 26% per annum. Not a bad return.
Gold is mainly quoted in US dollars per ounce. Currently around $675 per ounce, was $270 in 2001.
Gold has remained steady for the last 12 months.
My opinion is that gold is going to take off again soon. All other commodities have taken off in the last 12 months. Golds turn is not far away.
The best way to take advantage of any move in gold is to buy shares in a gold producer.0 -
I think I'm already partly invested in gold through a natural resources managed fund. I prefer that approach to investing directly in it or its producers.I am a Chartered Financial Planner
Anything I say on the forum is for discussion purposes only and should not be construed as personal financial advice. It is vitally important to do your own research before acting on information gathered from any users on this forum.0 -
Sounds like theres some bullion merchants on the board.0
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And at least one of them was lying through his teeth, or woefully uninformed about the prices in his industrySounds like theres some bullion merchants on the board.
I am a Chartered Financial Planner
Anything I say on the forum is for discussion purposes only and should not be construed as personal financial advice. It is vitally important to do your own research before acting on information gathered from any users on this forum.0 -
Isn't back above 1980 levels yet... (and 10% off last years high).0
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