Gold and silver bars

Adly812

about ten years ago I was recommended to purchase silver and gold bars for future investment. Being very young and naive I followed the advice and bought some bars off uk.bullion. The gold has remained somewhat consistent in price and lost me a max of £100 for my bars. But my silver Umicore bar has lost me like £400 each. I’m gutted. Does anyone see a future market for gold or silver? Will prices ever increase or have I lost £££ in my investment without question?

A_T

noone knows

masonic

Both could rise in value from where they are now. How long this could take is anyone's guess and there is no guarantee it will be in your lifetime. Of almost equal likelihood is that they could fall in value from where they are now.

Gold tends to hold its value over multiple generations, as such it is thought of as a useful hedge against inflation, but in the short term is extremely volatile. Some people hold a small percentage of their investments in gold for diversification, but a little goes a long way.

What was your reason for buying them? How long did you want to hold them? What percentage of your net worth did you invest? Do you think they meet your investment objectives today?

The answers to those questions should help you decide if continuing to hold them makes sense.

Adly812

I was 19 and was looking for ideas of what I could invest in. My father was the “ wise “ soul who recommended I buy silver and gold , as it would make money. That was the first time I ever took his opinion on money and investment and the LAST. He’s not the wisest I have learnt, as I’ve grown older.
I have held them for ten years and they have not increased once, they have devalued.. sad..
My dad keeps saying wait, wait you’ll see..... I don’t lol

masonic

On the bright side he's taught you two important investing lessons:

1. Don't put your eggs in one basket
2. Don't invest in something you don't understand

It sounds like you are well on your way to learning another.

3. Know when to cut your losses

shaun_from_Africa

One thing to remember when buying silver bullion in the UK is that you pay 20% VAT on it. Once you add on the dealers markup, this means that the silver generally has to rise by about 22% to 25% (depending on the quantity) before you can start looking at any profit.

DiggerUK

Your gold should be ok, you would have bought at a lower price ten years ago. UK Bullion are a known outfit, not the cheapest, and not way over the top. Can you double check when you bought and what you paid..

You have bought without understanding what you were actually doing, lesson learned.

Digger Mansions has advised its children to buy gold, but we gave them an insurance policy....bank of mom and dad. Your dad should make good your silver losses, persuade him to pay what you paid.

Silver is not a good investment, never has been. Take the hit if your dad doesn't do the right thing. Your gold should be up at least £200 pounds an ounce, and I would hold.

Digger Mansions has 90%+ of our retirement savings and are happy with what we have done. Get back to us all with exactly what you bought and what you paid. Thanks..._

Apodemus

Like all investments, you should possibly look at today’s value and ask yourself: “If I had that in cash today, how would I invest it?” If the answer is “I would buy gold and silver”, then leave it as it is. Otherwise cash it in and follow your preferred option.

Adly812

Silver bars I bought cost me £1400 for two kilograms of umicore bars. They are worth like £350 each now sadly,

Yes I learnt a lot since then and individually I have made some wise choices alone when it comes to investing, making sure I know what my returns would be.

Being a kid you just listen to your parents, my dad has offered to pay his mistake, and buy back my silver, but I won’t let him. As he’s done a lot for me in life (minus this).

Gold looks stagnant, 1 oz was like £1000 and now it looks around £938, I bought a few oz.

masonic

Gold hasn't really been stagnant...
https://www.macrotrends.net/1333/historical-gold-prices-100-year-chart

wastedtalent

10 years ago Gold was about £650/oz it's not over £1000/oz.


Around 8 years ago, at the hieght of the financial crash it was slighjtly over £1000/oz and then dropped as the crash eased, maybe wait untilt he next crash, and sell on, or hold for a much longer term, Gold is definately a long term investment.