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Is Buying gold still a good investment / insurance ?
Poison877
Posts: 42 Forumite
Hi , I have casually heard that there are some people who buy 24 KT. gold as an investement / insurance for the future for several reason : the price ( seems to ) doesn't change much over time , it can be exchanged everywhere in the world , banks can't control it etc.
Is there any of You who buys gold , who has bought gold in the past , who can give me some advise ?
Generally speaking I would like to know if it's a good idea or not.
Thanks
Is there any of You who buys gold , who has bought gold in the past , who can give me some advise ?
Generally speaking I would like to know if it's a good idea or not.
Thanks
If You got nothing nice to say , don't say anything at all
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Comments
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You could use the search function to find threads with gold in the title, the answers don't change much
https://forums.moneysavingexpert.com/search.php?searchid=1854639660 -
The only real argument I've heard for holding it is as a hedge against a crash in the value of cash but I'm not sure in what circumstances cash would go down and gold would go up.
Once I have a bigger pot of investments in equity and bonds and probably commercial property, I may then look into whether it would be wise to hold gold in a small proportion of my overall portfolio. I couldn't see if ever being a core component personally.0 -
chockydavid1983 wrote: »I'm not sure in what circumstances cash would go down and gold would go up.
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Inflation?
Even now cash is going down at a rate of - what- 2.5%/year?
Remember prices at the shops 10 years ago- 10 years is not so long - they are like a third higher now so your money is worth a third less - just like that ..The word "dilemma" comes from Greek where "di" means two and "lemma" means premise. Refers usually to difficult choice between two undesirable options.
Often people seem to use this word mistakenly where "quandary" would fit better.0 -
Inflation?
Even now cash is going down at a rate of - what- 2.5%/year?
Remember prices at the shops 10 years ago- 10 years is not so long - they are like a third higher now so your money is worth a third less - just like that ..
But the price of gold can vary by 2.5% in a day or two so it's not really comparable to cashRemember the saying: if it looks too good to be true it almost certainly is.0 -
Gold is not a good investment as it doesn't produce an income, and it doesn't appreciate in value reliably. You could lose a lot of money buying gold if you need to sell it at a low point in the market.The comments I post are my personal opinion. While I try to check everything is correct before posting, I can and do make mistakes, so always try to check official information sources before relying on my posts.0
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There's no need for gold any more. Now we have bitcoin
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What's the word 'still' doing in the thread title?!
It makes it a loaded question in the same vein as the traditional example of 'have you stopped beating your wife?'....0 -
the price ( seems to ) doesn't change much over time
are you sure about that? have you actually seen the fluctuations and the level of losses?I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
imho gold is not an 'investment' and never has been
what it is is an insurance policy against catastrophe and as such performs that function very well
try buying a chocolate bar with bitcoin in a bombed-out city...0 -
Just as long as the person selling the chocolate bar isn't bigger than you, and doesn't have a better insurance policy such as an offensive weapon.imho gold is not an 'investment' and never has been
what it is is an insurance policy against catastrophe and as such performs that function very well
try buying a chocolate bar with bitcoin in a bombed-out city...0
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