Help to invest in gold?

ColdIron

user1168934 wrote: »

why is the price going up pretty much constantly?

It isn't
https://www.kitco.com/charts/popup/au3650nyb.html

raffs

John_G_Jones wrote: »

That’s one of the most stupid plans I’ve ever heard, and suggests that you should ask a competent adult to take over your affairs for you, but if you want to go ahead with the plan that is as idiotic as yours then you can walk into the bullion dealers in Savoy Place and walk out with around a kilogram in exchange for your money.

Your argument, insomuch as it can be called one, is like someone saying that they are going tomholiday in the Lake District rather than Las Vegas as they don’t like rain and the last time they went to Vegas it was a bit showery.

Apologies for dancing around the subject, ai’d tell you what I really feel but need to avoid giving investment advice for professional reasons.

I am lost as how I have offended your sensibilities so much. I asked a simple question highlighted in bold to get some advice.

My sincere apologies that my financial acumen is not as exquisite as yours.

I stated I do not understand stocks and shares I am not that way inclined. I see gold as a safer option, is that dumb?

I suggest you ignore my comments if they offend such a supreme being like you. May your minions forever bathe your feet in !!! milk - with you around there should be no shortage of it.

And that last comment makes even less sense than the rest of your post.

raffs

A_T wrote: »

A post like this suggests no attempt has been made to do any research on the subject and just want to be told what to do without any desire to understand or to learn.

It might suggest that but I have looked at LISA's, ISA's,and Bitcoin.

I do not understand things and have read enough to fry my head, (I have health issues - hence early retirement - that effects my ability to think clearly).

I 'decided' on gold as it seemed to offer the least risk and thought that I might find a kindly soul to point me in the right direction.

It's so hard to see all those up there on their high horses!

raffs

Thanks to those adults on here that offered advice. I will certainly look at the suggestions mentioned.

I have been on many sites and met many people on them but I have to say I pity some people one here whose lives are so empty that they need to pick on someone who isn't as educated in certain areas as they are.

For those that think I am a fool I had a very successful career and have a degrees and specialist diplomas. None of them have anything to do with finance and that is why I don't understand it AND when coming to places to look for advice I am met with school yard name calling and belittling behaviour - way to show your smarts guys!

Before I leave you can I ask does anyone know of forums that can help educate a person as opposed to denigrating them?

Again many thanks to those who took time to help and to the others - you can to wallow in your filth and hate!

Lokolo

raffs wrote: »

It might suggest that but I have looked at LISA's, ISA's,and Bitcoin.

I do not understand things and have read enough to fry my head, (I have health issues - hence early retirement - that effects my ability to think clearly).

I 'decided' on gold as it seemed to offer the least risk and thought that I might find a kindly soul to point me in the right direction.

It's so hard to see all those up there on their high horses!

Why do you think gold seems the least risky? What has made you think that?

jimjames

raffs wrote: »

I 'decided' on gold as it seemed to offer the least risk and thought that I might find a kindly soul to point me in the right direction.

You may have decided that gold was least risk but as others have shown, this is not a correct assessment. How much income do you expect to get from your gold?

If income isn't a requirement for your money and you're happy for the value to fluctuate significantly then surely a balanced portfolio of funds would make more sense.

Some people hold gold but not as the entirety of their investments, it means you have all your eggs in one basket and no diversification.

raffs

Lokolo wrote: »

Why do you think gold seems the least risky? What has made you think that?

Maybe if I explain my thinking it might ease some of this animosity. My thoughts on it all were:

I have only had one experience with investing, as noted a stupid one, when I think of investing in stocks I think that with the uncertainty of Brexit shares might nose dive and take a hell of a long time to come out of the slump.

I believe that America's economy is based on debt and their cash is backed by their mouth so that seems an economy like that will eventually crash hard and cause problems around the world.

I think the value of the pound will fall as Brexit bites and want to protect my money from this.

Gold is a commodity and has value and will always be of use. There are plenty of sites that say it is a good way of holding on to your money:

https://moneyweek.com/2342/a-beginners-guide-to-investing-in-gold/

There are plenty of sites that say it is worth holding in times of uncertainty, (Brexit, China, USA, Russia and Pakistan/India all causes of uncertainty in the world at this moment):

https://www.investopedia.com/articles/basics/08/invest-in-gold.asp


It seemed to me to be a no brainer - put my sterling into gold and then if the US or UK economy tanks my money is still worth something.

I have read the investing guides on here and lots other places but they all felt more like they were selling their angle as opposed to giving a more 'general' view of the whole land so I thought I would come to a place like this and hopefully find knowledgeable people who would point me in the right direction.

Joe_Bloggs

You can put your money into gold. However their is no way for an individual to buy a can of beans with it and expect change in gold. Hence you can only deal with traders who can handle gold. These traders will require a margin on the sale as they have to hold it until some other person will buy it from them.

J_B.

Wookey

The only investment i made into gold was to buy a gold pan that i infrequently dip into the odd mountain stream, I'm still down about £8 (the cost of the pan) but on the bright side i'm potentially a millionaire if i ever get it out of the ground:)

Rheumatoid

As others have said. If you are risk averse, you are better off maximising returns on cash for the time being. Once you have learnt a bit more (by reading and being ridiculed ) then maybe you can look at other investments to put some of your assets in. But certainly don't bung it all in to gold now or ever.
R.